Mplx (NYSE:MPLX) Issues Earnings Results, Meets Expectations

04 Aug 2026, 16:58 by Kim Johansen · The Markets Daily

Mplx (NYSE:MPLX – Get Free Report) released its quarterly earnings results on Tuesday. The pipeline company reported $1.06 earnings per share for the quarter, meeting the consensus estimate of $1.06, Zacks reports. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Mplx had a net margin of 36.38% and a return on equity of 32.74%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.03 earnings per share.

Here are the key takeaways from Mplx’s conference call:

Adjusted EBITDA rose 5% year over year to $1.8 billion in the second quarter, despite the 2025 Rockies asset divestiture. MPLX returned more than $1.1 billion to unitholders.
Strong producer demand drove high utilization, including 96% in Marcellus processing and 86% across the Delaware Basin processing system. Secretariat I entered service in April, while Harmon Creek III began operations in August, supporting expected sequential growth through year-end.
MPLX reiterated its outlook for mid-single-digit adjusted EBITDA growth in 2026, with additional contributions expected from BANGL, Blackcomb, Bay Runner and the Titan sour-gas treating expansion. Management said the projects entering service in late 2026 should also provide a platform for strong 2027 growth.
2026 capital spending was increased by $500 million to $2.9 billion, primarily because Gulf Coast fractionation spending is being accelerated from early 2027 into late 2026; management said the project remains on budget and is expected online in 2028.
Management expects another 12.5% distribution increase in both 2026 and 2027 while maintaining at least 1.3x coverage. Executives said organic projects already provide sufficient growth to meet the 2027 coverage objective without requiring acquisitions.

Mplx Stock Performance

MPLX stock traded up $0.92 during midday trading on Tuesday, reaching $59.83. 752,211 shares of the company’s stock traded hands, compared to its average volume of 1,792,423. The company has a current ratio of 1.10, a quick ratio of 1.05 and a debt-to-equity ratio of 1.71. Mplx has a 52-week low of $47.80 and a 52-week high of $60.00. The stock has a market cap of $60.71 billion, a P/E ratio of 12.94, a PEG ratio of 5.56 and a beta of 0.48. The stock’s 50-day moving average is $56.78 and its 200 day moving average is $56.61.

Mplx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, August 7th will be issued a dividend of $1.0765 per share. This represents a $4.31 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date of this dividend is Friday, August 7th. Mplx’s dividend payout ratio is currently 93.29%.

Hedge Funds Weigh In On Mplx

Institutional investors have recently bought and sold shares of the stock. Wiser Advisor Group LLC purchased a new position in Mplx during the third quarter valued at $38,000. Prosperity Bancshares Inc bought a new position in shares of Mplx in the fourth quarter worth about $43,000. WFA of San Diego LLC bought a new position in shares of Mplx in the second quarter worth about $52,000. Heritage Wealth Advisors raised its stake in shares of Mplx by 20.2% in the fourth quarter. Heritage Wealth Advisors now owns 1,452 shares of the pipeline company’s stock worth $78,000 after buying an additional 244 shares during the period. Finally, Garton & Associates Financial Advisors LLC purchased a new position in shares of Mplx during the 4th quarter valued at about $87,000. 24.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wells Fargo & Company decreased their price objective on shares of Mplx from $63.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Zacks Research upgraded shares of Mplx from a “strong sell” rating to a “hold” rating in a research report on Friday, June 5th. Weiss Ratings downgraded shares of Mplx from a “buy (a)” rating to a “buy (a-)” rating in a research note on Monday, May 18th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Mplx in a research report on Thursday, July 2nd. Finally, Morgan Stanley decreased their target price on Mplx from $62.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Mplx has a consensus rating of “Moderate Buy” and a consensus price target of $61.60.

Check Out Our Latest Report on MPLX

Mplx Company Profile

(Get Free Report)

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.