NYSE:MPLX

Stock Analysis Report

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Executive Summary

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. More Details


Snowflake Analysis

Reasonable growth potential with mediocre balance sheet.


Similar Companies

Share Price & News

How has MPLX's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MPLX has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-2.1%

MPLX

-6.8%

US Oil and Gas

-4.1%

US Market


1 Year Return

-34.3%

MPLX

-48.3%

US Oil and Gas

12.0%

US Market

Return vs Industry: MPLX exceeded the US Oil and Gas industry which returned -48.3% over the past year.

Return vs Market: MPLX underperformed the US Market which returned 12% over the past year.


Shareholder returns

MPLXIndustryMarket
7 Day-2.1%-6.8%-4.1%
30 Day8.1%-3.1%-0.2%
90 Day-6.8%-17.3%2.8%
1 Year-26.9%-34.3%-45.0%-48.3%14.6%12.0%
3 Year-35.1%-50.1%-49.5%-56.2%35.8%26.8%
5 Year-40.6%-59.7%-46.6%-57.0%75.2%55.6%

Price Volatility Vs. Market

How volatile is MPLX's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is MPLX undervalued compared to its fair value and its price relative to the market?

32.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MPLX ($17.02) is trading below our estimate of fair value ($25.32)

Significantly Below Fair Value: MPLX is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: MPLX is unprofitable, so we can't compare its PE Ratio to the US Oil and Gas industry average.

PE vs Market: MPLX is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate MPLX's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: MPLX is overvalued based on its PB Ratio (1.5x) compared to the US Oil and Gas industry average (0.7x).


Next Steps

Future Growth

How is MPLX forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

55.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MPLX is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2.2%).

Earnings vs Market: MPLX is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: MPLX's is expected to become profitable in the next 3 years.

Revenue vs Market: MPLX's revenue (6.5% per year) is forecast to grow slower than the US market (10% per year).

High Growth Revenue: MPLX's revenue (6.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MPLX's Return on Equity is forecast to be high in 3 years time (20.1%)


Next Steps

Past Performance

How has MPLX performed over the past 5 years?

5.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MPLX is currently unprofitable.

Growing Profit Margin: MPLX is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: MPLX is unprofitable, but has reduced losses over the past 5 years at a rate of 5.5% per year.

Accelerating Growth: Unable to compare MPLX's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: MPLX is unprofitable, making it difficult to compare its past year earnings growth to the Oil and Gas industry (-35%).


Return on Equity

High ROE: MPLX has a negative Return on Equity (-13.67%), as it is currently unprofitable.


Next Steps

Financial Health

How is MPLX's financial position?


Financial Position Analysis

Short Term Liabilities: MPLX's short term assets ($1.4B) exceed its short term liabilities ($1.2B).

Long Term Liabilities: MPLX's short term assets ($1.4B) do not cover its long term liabilities ($21.6B).


Debt to Equity History and Analysis

Debt Level: MPLX's debt to equity ratio (144.4%) is considered high.

Reducing Debt: MPLX's debt to equity ratio has reduced from 151.1% to 144.4% over the past 5 years.

Debt Coverage: MPLX's debt is well covered by operating cash flow (20.6%).

Interest Coverage: MPLX is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet


Next Steps

Dividend

What is MPLX current dividend yield, its reliability and sustainability?

16.16%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: MPLX's dividend (16.16%) is higher than the bottom 25% of dividend payers in the US market (1.69%).

High Dividend: MPLX's dividend (16.16%) is in the top 25% of dividend payers in the US market (4.78%)


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, MPLX has been paying a dividend for less than 10 years.

Growing Dividend: MPLX's dividend payments have increased, but the company has only paid a dividend for 8 years.


Current Payout to Shareholders

Dividend Coverage: MPLX is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: MPLX's dividends in 3 years are not forecast to be well covered by earnings (109.8% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.7yrs

Average management tenure


CEO

Mike Hennigan (61 yo)

0.92

Tenure

US$7,656,867

Compensation

Mr. Michael J. Hennigan, also known as Mike, serves as Chairman of the Board of MPLX GP LLC at MPLX LP since April 29, 2020. He serves as Director at Marathon Petroleum Corporation since April 29, 2020. He ...


CEO Compensation Analysis

Compensation vs Market: Mike's total compensation ($USD7.66M) is below average for companies of similar size in the US market ($USD11.21M).

Compensation vs Earnings: Mike's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Michael Hennigan
Chairman of the Board0.92yrUS$7.66m0.011%
$ 2.0m
Pamela K. Beall
Executive VP6.75yrsUS$2.70m0.0041%
$ 710.9k
Gregory Floerke
Executive VP of Gathering0.17yrUS$2.54m0.0081%
$ 1.4m
Suzanne Gagle
General Counsel of MPLX GP LLC3yrsUS$2.74m0.0029%
$ 507.0k
Shawn Lyon
Vice President of Operations - MPLX GP LLC1.92yrsno datano data
Kristina Kazarian
Vice President of Investor Relations - MPLX GP LLC2.75yrsno datano data
Molly Benson
VP, Chief Securities4.58yrsno datano data
Timothy Aydt
Executive VP of Pipelines0.17yrno data0.0017%
$ 303.2k
Raymond Brooks
Senior Vice President of MPLX GP LLC2.58yrsno datano data
Phillip Anderson
Senior Vice President of Business Development of MPLX GP LLC2yrsno datano data
Rick Hessling
Senior Vice President of MPLX GP LLC2.75yrsno datano data
Brian Partee
Senior Vice President of MPLX GP LLC2.75yrsno datano data

2.7yrs

Average Tenure

54yo

Average Age

Experienced Management: MPLX's management team is considered experienced (2.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Michael Hennigan
Chairman of the Board0.92yrUS$7.66m0.011%
$ 2.0m
Pamela K. Beall
Executive VP6.75yrsUS$2.70m0.0041%
$ 710.9k
Christopher Helms
Independent Director of MPLX GP LLC8yrsUS$260.00k0.0038%
$ 660.3k
Dan Sandman
Independent Lead Director of MPLX GP LLCno dataUS$270.00k0.010%
$ 1.8m
Frank Semple
Independent Director of MPLX GP LLC4.83yrsUS$287.50k0.055%
$ 9.7m
John Surma
Independent Director of MPLX GP LLC8yrsUS$200.00k0.0039%
$ 686.5k
Michael Beatty
Independent Director of MPLX GP LLC4.83yrsUS$255.00k0.0047%
$ 818.9k
Garry Peiffer
Independent Director of MPLX GP LLC8.33yrsUS$217.50k0.0090%
$ 1.6m
J. Stice
Independent Director of MPC Investment LLC2.5yrsUS$200.00k0.0016%
$ 285.7k
Donald Templin
Director of MPLX GP LLC8.33yrsUS$3.62m0.011%
$ 1.9m

6.8yrs

Average Tenure

66yo

Average Age

Experienced Board: MPLX's board of directors are considered experienced (6.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

MPLX LP's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: MPLX LP
  • Ticker: MPLX
  • Exchange: NYSE
  • Founded: 2012
  • Industry: Oil and Gas Storage and Transportation
  • Sector: Energy
  • Implied Market Cap: US$17.423b
  • Market Cap: US$17.704b
  • Shares outstanding: 1.04b
  • Website: https://www.mplx.com

Location

  • MPLX LP
  • 200 East Hardin Street
  • Findlay
  • Ohio
  • 45840-3229
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MPLXNYSE (New York Stock Exchange)YesCommon UnitsUSUSDOct 2012
M0XDB (Deutsche Boerse AG)YesCommon UnitsDEEUROct 2012

Biography

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/30 04:28
End of Day Share Price2020/10/29 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.