MPLX (MPLX)
Moves and processes crude oil, refined products, natural gas, and NGLs.
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Moves and processes crude oil, refined products, natural gas, and NGLs across the United States. Two linked midstream businesses span logistics and storage for crude and products, plus gathering, treating, processing, transportation, and fractionation for gas and NGLs.
Crude Oil and Products Logistics moves crude oil and refined products through pipelines, terminals, storage, marine logistics, refining logistics, and fuels distribution across the United States. Natural Gas and NGL Services gathers, treats, processes, transports, fractionates, stores, and markets gas and natural gas liquids from producing basins toward downstream markets.
Integration across product value chains, operational safety, and selective projects and transactions define execution. The platform links Appalachian gas processing and fractionation with expanding Permian-to-Gulf Coast infrastructure, while recent portfolio actions added Northwind and full ownership of BANGL and exited Rockies operations.
Marathon Petroleum controls the general partner, owns most common units, supplies the operating workforce through affiliates, and is the largest customer. Cash flows retain contract-specific commodity and volume exposure, while expansion depends on construction, commissioning, integration, and throughput.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 21, 2026 | RBC Capital | Reiterate | Rating: —Target: $60 | Target: $64 |
| Aug 12, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $60 | Target: $66 |
| Aug 6, 2026 | Barclays | Reiterate | Rating: —Target: $58 | Target: $63 |
| Aug 5, 2026 | Wells Fargo | Reiterate | Rating: —Target: $61 | Target: $63 |
| Jul 29, 2026 | Wolfe Research | Downgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.03B · Total debt $25.90B · Total assets $42.97B · Shareholders' equity $14.03B
- Revenue
- $3.31B
- Operating income
- $1.38B
- Net income
- $1.09B
HistoryDividendAnnual yield
| Institutions | 19.33% | 196.28M shares | |
|---|---|---|---|
| 651 holders · as of Jun 30, 2026 | |||
| Insiders | 0.12% | 1.17M shares | |
| 17 holders · as of Aug 18, 2026 | |||
| Strategic holders | 6.69% | 67.92M shares | |
| 1 holder · as of Feb 16, 2021 | |||
| Other | 73.86% | 749.83M shares | |
| remainder | |||
1.02B company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
The Blackstone Group Inc.Strategic | 6.69% | 67.92M | filed Feb 16, 2021 |
Alps Advisors IncInstitution | 2.82% | 28.60M | as of Jun 30, 2026 |
Invesco Ltd.Institution | 1.80% | 18.27M | as of Jun 30, 2026 |
Blackstone Inc.Institution | 1.28% | 12.96M | as of Jun 30, 2026 |
Goldman Sachs Group IncInstitution | 1.12% | 11.33M | as of Jun 30, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
- Enterprise Products Partners
Integrated rival across gas, NGL, crude and refined-products logistics
- Energy Transfer
Broad pipeline and terminal rival across both MPLX value chains
- ONEOK
Integrated NGL, gas and liquids-logistics rival
- Targa Resources
Permian gas-processing and Gulf Coast NGL rival
- Williams
Appalachian gathering, processing and NGL-services rival
- Kinder Morgan
Gas, refined-products and terminal infrastructure rival
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| MPLX | $59.79 | +1.18% | $59.96B | 12.7 | 13.0 | 4.7 | +10.6% |
| Enterprise Products Partners | $38.59 | +0.30% | $83.23B | 13.4 | 12.6 | 1.4 | +60.8% |
| Energy Transfer | $20.89 | −0.07% | $71.92B | 13.0 | 12.8 | 0.7 | +78.4% |
| ONEOK | $91.97 | +0.19% | $57.85B | 15.8 | 15.5 | 1.5 | +52.8% |
| Targa Resources | $292.66 | +1.14% | $62.11B | 27.6 | 26.0 | 3.7 | +10.3% |
| Williams | $71.87 | +0.31% | $87.64B | 28.4 | 30.0 | 7.2 | +10.2% |
| Kinder Morgan | $31.62 | −0.32% | $70.63B | 20.3 | 21.4 | 3.9 | +10.8% |
| Median | 18.1 | 18.5 | 2.6 | +31.8% |