MPLX is a partnership that owns pipelines and gathering and processing assets with extensive holdings in the Appalachian and Permian regions. The asset base is made up of crude oil and refined products assets dropped down from Marathon Petroleum, its sponsor, and natural gas and natural gas liquids gathering and processing assets that were purchased or built.
MARATHON PETROLEUM CORPORATION
Enterprise Products Partners L.P.
Energy Transfer LP Common Units representing limited partner interests
Plains All American Pipeline, L.P. Common Units representing Limited Partner Interests
Plains GP Holdings, L.P. Class A Units representing Limited Partner Interests
Antero Midstream Corporation Common Stock
Western Midstream Partners, LP
Oneok, Inc.
Targa Resources Corp.
DT Midstream, Inc.
The chart shows the growth of an initial investment of $10,000 in MPLX LP, comparing it to the performance of the S&P 500 index.
All prices have been adjusted for splits and dividends.
MPLX LP (MPLX) has returned 5.00% so far this year and 21.50% over the past 12 months. Looking at the last ten years, MPLX has achieved an annualized return of 7.09%, underperforming the Benchmark (SPY), which averaged 12.23% per year.
The table below presents the monthly returns of MPLX LP (MPLX) with color gradation from worst to best to easily spot seasonal factors.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.00% | 6.58% | -4.04% | -1.10% | ||||||||
| 2025 | 8.56% | 7.18% | -1.35% | -4.80% | -0.12% | 0.08% | 1.72% | -3.20% | -1.58% | 1.54% | 6.43% | -1.17% |
| 2024 | 4.76% | -0.80% | 7.56% | 0.31% | -2.77% | 4.77% | -0.42% | 0.07% | 4.12% | -0.05% | 15.99% | -7.53% |
| 2023 | 6.69% | -1.31% | -0.75% | 0.40% | -4.74% | 1.95% | 4.78% | -2.13% | 1.51% | 0.98% | 1.14% | 0.88% |
| 2022 | 10.32% | -0.55% | 1.07% | -3.29% | 1.35% | -11.80% | 11.34% | 0.77% | -7.23% | 9.41% | -0.76% | -3.38% |
| 2021 | 4.43% | 0.76% | 5.56% | 4.86% | 4.41% | 2.14% | -5.37% | -1.39% | 0.99% | 5.31% | -3.27% | -0.44% |
| 2020 | -6.27% | -13.66% | -43.73% | 65.60% | 7.23% | -9.05% | 6.34% | -3.49% | -13.04% | 9.55% | 19.41% | 1.64% |
| 2019 | 17.11% | -5.80% | -1.41% | -2.24% | -5.44% | 4.68% | -9.69% | -6.72% | 1.60% | -5.86% | -8.93% | 7.20% |
| 2018 | 4.49% | -7.13% | -4.56% | 7.00% | 1.24% | -4.96% | 6.68% | -2.31% | -2.03% | -3.97% | -2.56% | -10.12% |
| 2017 | 8.73% | -1.46% | -3.99% | -2.38% | -6.35% | 0.78% | 8.51% | -6.02% | 1.83% | 1.50% | 0.93% | -1.69% |
| 2016 | 13.15% | -1.21% | 6.86% | -2.79% | 3.11% | 2.51% | 1.22% | -3.44% | 4.12% |
The charts below present risk-adjusted performance metrics for MPLX LP (MPLX) and compare them to a Benchmark (SPY). These indicators evaluate an investment's returns against its associated risks.
The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.
These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns.
The chart below shows the rolling Sharpe ratio of MPLX compared to the benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.
The current MPLX LP volatility is 0.93%, representing the standart deviation of percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.
The Drawdowns chart displays portfolio losses from any high point along the way. It shows the maximum percentage drop from a peak to a trough over a specified period, indicating the risk of significant losses.
Although chart shows positive values, it represents the percentage drop from the peak, so a value of 10% means the portfolio has dropped 10% from its highest point.
The income statement provides a summary of a company's revenues, expenses, and profits over a specific period. It shows how much money the company earned (revenues) and how much it spent (expenses), leading to the net income or profit. This statement is crucial for understanding a company's financial performance and profitability.
| 2025 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Liabilities And Equity (USD) | 43.01B | 36.53B | 35.67B | 35.51B | 36.41B | 40.43B | 22.78B | 19.50B | 16.65B | 15.68B | 1.21B | 1.21B |
| Temporary Equity Attributable To Parent (USD) | - | 895.00M | - | - | - | - | - | - | - | - | - | - |
| Temporary Equity (USD) | - | 895.00M | - | 965.00M | 968.00M | 968.00M | 1.00B | 1.00B | 1.00B | - | - | - |
| Equity Attributable To Parent (USD) | 14.30B | 12.45B | 12.31B | 11.81B | 12.77B | 16.36B | 6.71B | 9.83B | 10.30B | 9.24B | 458.20M | 646.20M |
| Equity Attributable To Noncontrolling Interest (USD) | 227.00M | 235.00M | 237.00M | 241.00M | 245.00M | 249.00M | 156.00M | 146.00M | 18.00M | 13.00M | 5.50M | 467.90M |
| Equity (USD) | 14.53B | 12.69B | 12.55B | 12.05B | 13.02B | 16.61B | 6.86B | 9.97B | 10.32B | 9.25B | 463.70M | 1.11B |
| Noncurrent Liabilities (USD) | 25.23B | 20.32B | 19.75B | 19.14B | 20.34B | 20.72B | 13.73B | 7.22B | 4.62B | 5.81B | 650.20M | 11.00M |
| Other Current Liabilities (USD) | 3.14B | 2.47B | 2.18B | 3.18B | 1.93B | 1.89B | 1.02B | 1.15B | 581.00M | 523.00M | 58.40M | 52.90M |
| Accounts Payable (USD) | 108.00M | 153.00M | 224.00M | 172.00M | 152.00M | 242.00M | 162.00M | 151.00M | 123.00M | 89.00M | 42.20M | 30.50M |
| Current Liabilities (USD) | 3.25B | 2.62B | 2.40B | 3.35B | 2.09B | 2.13B | 1.19B | 1.30B | 704.00M | 612.00M | 100.60M | 83.40M |
| Liabilities (USD) | 28.48B | 22.95B | 22.15B | 22.49B | 22.43B | 22.85B | 14.91B | 8.53B | 5.33B | 6.42B | 750.80M | 94.40M |
| Other Non-current Assets (USD) | 15.92B | 13.80B | 14.21B | 13.13B | 12.72B | 15.53B | 6.82B | 6.30B | 4.68B | 5.05B | 108.70M | 106.80M |
| Intangible Assets (USD) | 1.40B | 654.00M | 705.00M | 831.00M | 959.00M | 1.27B | 424.00M | 453.00M | 492.00M | 466.00M | - | - |
| Fixed Assets (USD) | 21.70B | 19.26B | 18.85B | 20.04B | 21.22B | 22.15B | 14.64B | 12.19B | 10.73B | 9.68B | 1.01B | 966.60M |
| Noncurrent Assets (USD) | 39.01B | 33.72B | 33.76B | 34.00B | 34.90B | 38.95B | 21.88B | 18.94B | 15.91B | 15.20B | 1.12B | 1.07B |
| Current Assets (USD) | 3.99B | 2.81B | 1.91B | 1.51B | 1.52B | 1.48B | 897.00M | 559.00M | 740.00M | 474.00M | 97.20M | 135.10M |
| Assets (USD) | 43.01B | 36.53B | 35.67B | 35.51B | 36.41B | 40.43B | 22.78B | 19.50B | 16.65B | 15.68B | 1.21B | 1.21B |
MPLX, a master limited partnership operating midstream energy infrastructure, offers a 7.3% dividend yield with stable cash flows insulated from volatile oil prices. The company generates $5.8 billion in annual cash flow, covers its distribution 1.4 times over, and has multiple expansion projects under construction expected to drive mid-single-digit earnings growth through the decade.
Despite oil prices surging to nearly $100/barrel following the Iran conflict, MPLX has declined 1% because it operates a volume-based logistics business with limited direct commodity price exposure. Higher oil prices could actually reduce volumes flowing through its crude infrastructure. The company's primary growth driver is natural gas and NGL services, not crude oil, making it better suited as a durable income investment yielding 7%+ rather than a play on rising oil prices.
The article recommends three master limited partnership (MLP) pipeline stocks as strong long-term income investments: Energy Transfer (ET), Hess Midstream (HESM), and MPLX. These companies offer high dividend yields (7-8%), stable revenue streams, and consistent distribution growth, benefiting from rising natural gas demand driven by AI data center expansion.
The article recommends six energy infrastructure and royalty companies offering high distribution yields (6.1%-14.8%), positioning them as reliable income sources regardless of oil price volatility. The author favors 'toll taker' pipeline companies that collect fees based on throughput rather than commodity prices, while also highlighting an MLP ETF as a tax-efficient alternative.
MPLX, a master limited partnership in the pipeline sector, offers a nearly 8% dividend yield with a strong financial profile and visible growth through 2029. The company generated $5.8 billion in distributable cash flow, covering its distribution 1.4 times over, and invested $5.5 billion in growth projects including acquisitions and expansion initiatives. With a leverage ratio of 3.7x and multiple projects coming online through 2029, MPLX is positioned to continue increasing its distribution at mid-single-digit rates.
The article highlights five ultra-high-yield dividend stocks recommended for 2026 income generation. These include energy infrastructure companies and REITs with strong dividend growth histories and yields ranging up to 7.7%. The stocks are positioned as solid investments for building passive income streams, with expectations of continued dividend increases and operational improvements in 2026.
MPLX LP's board of directors declared a quarterly cash distribution of $1.0765 per common unit for Q4 2025, equivalent to $4.31 annualized. The distribution will be paid on February 17, 2026, to unitholders of record as of February 9, 2026. The announcement includes qualified tax notice provisions for non-U.S. investors regarding federal income tax withholding.
Matt Frankel discusses his largest dividend stock position in Realty Income (O), expressing strong confidence in it as a long-term investment. His colleague Tyler Crowe highlights MPLX as his top dividend stock pick. Both stocks are presented as attractive dividend investments for investors seeking regular income.
MPLX, a master limited partnership in the energy midstream sector, offers a 7.7% distribution yield significantly higher than the S&P 500's 1.1%. Investors would need 232 units (approximately $13,000) to generate $1,000 in annual distribution income. The company maintains stable cash flows backed by long-term contracts, conservative leverage ratios, and has increased distributions annually since 2012, including an 11.6% compound annual growth rate since 2022.
The article recommends two midstream master limited partnerships (MLPs) for income-focused investors: Western Midstream Partners (WES) with a 9.2% yield and strong balance sheet, expanding into produced water disposal; and MPLX with a 7.33% yield and impressive 10%+ annual distribution growth. Both companies have well-covered distributions, solid leverage ratios, and attractive valuations for long-term dividend investors.