Mplx (NYSE:MPLX) Issues Quarterly Earnings Results

Mplx (NYSE:MPLX) posted its quarterly earnings results on Tuesday. The pipeline company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02, Zacks reports. Mplx had a net margin of 32.91% and a return on equity of 30.27%. The business had revenue of $3.32 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same period in the prior year, the business posted $1.52 earnings per share. The company’s revenue was down .4% on a year-over-year basis.

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

• Third-quarter adjusted EBITDA rose 5% year over year to $1.9 billion, or 7.3% excluding the Rockies divestiture, supported by higher volumes, rates, and strong execution across the integrated natural gas and NGL businesses.
• MPLX increased its quarterly distribution by 12.5% for the third consecutive year to an annualized $4.84 per unit and returned approximately $1.1 billion to unitholders during the quarter.
• The company expects stronger EBITDA growth in 2027 as projects ramp, including Harmon Creek III, Secretariat, Titan, Blackcomb, BANGL, and Bay Runner. MPLX also expects the Solitude Pipeline System to add 4.5 Bcf/d of Permian egress capacity, with service targeted for late 2029.
• MPLX agreed to sell midstream assets supporting MPC’s St. Paul Park and Mandan refineries for $750 million, with proceeds to be redeployed into Permian and Marcellus growth opportunities; however, the divestiture creates a headwind to 2027 EBITDA.
• Incentive compensation expense increased $37 million year over year in the third quarter and was $48 million higher year to date, reducing 2026 adjusted EBITDA growth by approximately 1%; management also cautioned that another 12.5% distribution increase in 2027 may not be achievable.

Mplx Price Performance

Shares of Mplx stock opened at $56.26 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 1.71. Mplx has a 52 week low of $50.22 and a 52 week high of $60.95. The stock’s 50-day simple moving average is $58.33 and its 200-day simple moving average is $57.25. The company has a market capitalization of $57.04 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 5.48 and a beta of 0.48.

Mplx Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, November 6th will be issued a dividend of $1.2111 per share. This is a boost from Mplx’s previous quarterly dividend of $1.0765. This represents a $4.84 dividend on an annualized basis and a yield of 8.6%. The ex-dividend date of this dividend is Friday, November 6th. Mplx’s payout ratio is 92.69%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Morgan Stanley cut their target price on Mplx from $66.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 13th. Stifel Nicolaus began coverage on Mplx in a report on Thursday, September 10th. They issued a “hold” rating and a $65.00 target price for the company. JPMorgan Chase & Co. started coverage on shares of Mplx in a report on Tuesday, October 20th. They set a “neutral” rating and a $62.00 price objective for the company. Weiss Ratings raised Mplx from a “buy (a-)” rating to a “buy (a)” rating in a report on Friday, October 30th. Finally, Wells Fargo & Company raised their target price on Mplx from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.80.

Mplx Company Profile

MPLX LP (NYSE:MPLX) is a master limited partnership that owns and operates midstream energy infrastructure in the United States. The company provides services for the gathering, processing, transportation, storage and marketing of crude oil, natural gas and natural gas liquids (NGLs).

MPLX’s assets include crude oil and refined-products pipelines, natural gas gathering and processing systems, NGL fractionation facilities, storage terminals and marine transportation infrastructure. Through its logistics and storage operations, the company supports the movement of hydrocarbons from producing regions to refineries, export facilities and other domestic markets.

The company serves several major U.S.