MPLX LP

NYSE:MPLX Stock Report

Market Cap: US$48.7b

MPLX Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of MPLX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MPLX ($47.67) is trading below our estimate of fair value ($93.84)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MPLX?

Key metric: As MPLX is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for MPLX. This is calculated by dividing MPLX's market cap by their current earnings.
What is MPLX's PE Ratio?
PE Ratio11.3x
EarningsUS$4.29b
Market CapUS$48.65b

Price to Earnings Ratio vs Peers

How does MPLX's PE Ratio compare to its peers?

The above table shows the PE ratio for MPLX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average21.6x
LNG Cheniere Energy
13.5x-8.3%US$49.4b
ET Energy Transfer
13.4x13.5%US$61.5b
TRGP Targa Resources
36.1x16.0%US$44.4b
OKE ONEOK
23.6x11.0%US$66.1b
MPLX MPLX
11.3x3.6%US$48.7b

Price-To-Earnings vs Peers: MPLX is good value based on its Price-To-Earnings Ratio (11.3x) compared to the peer average (21.6x).

Price to Earnings Ratio vs Industry

How does MPLX's PE Ratio compare vs other companies in the US Oil and Gas Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
AXAS Abraxas Petroleum
0.09xn/aUS$10.27m
BYRO.F Byron Energy
0.03x-10.3%US$312.17k
USOP.Y U.S. Oil and Gas
n/an/aUS$6.00
No more companies available in this PE range
MPLX 11.3xIndustry Avg. 11.8xNo. of Companies16PE0612182430+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MPLX is good value based on its Price-To-Earnings Ratio (11.3x) compared to the US Oil and Gas industry average (11.8x).

Price to Earnings Ratio vs Fair Ratio

What is MPLX's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MPLX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11.3x
Fair PE Ratio13.1x

Price-To-Earnings vs Fair Ratio: MPLX is good value based on its Price-To-Earnings Ratio (11.3x) compared to the estimated Fair Price-To-Earnings Ratio (13.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst MPLX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$47.67
US$49.43
+3.7%
7.2%US$55.00US$43.00n/a16
Nov ’25US$44.21
US$47.68
+7.8%
5.7%US$52.00US$43.00n/a16
Oct ’25US$44.68
US$46.62
+4.3%
5.4%US$51.00US$42.00n/a16
Sep ’25US$42.88
US$46.54
+8.5%
5.1%US$50.00US$42.00n/a16
Aug ’25US$42.58
US$45.98
+8.0%
5.1%US$50.00US$41.00n/a16
Jul ’25US$42.88
US$45.48
+6.1%
5.7%US$50.00US$41.00n/a16
Jun ’25US$40.68
US$45.29
+11.3%
5.2%US$49.00US$41.00n/a16
May ’25US$41.59
US$44.95
+8.1%
5.4%US$49.00US$40.00n/a16
Apr ’25US$41.32
US$42.51
+2.9%
6.2%US$47.00US$38.00n/a17
Mar ’25US$39.00
US$42.33
+8.5%
6.7%US$47.00US$38.00n/a17
Feb ’25US$38.85
US$41.80
+7.6%
7.4%US$47.00US$36.00n/a17
Jan ’25US$36.72
US$40.62
+10.6%
6.6%US$45.00US$36.00n/a17
Dec ’24US$36.61
US$40.45
+10.5%
6.8%US$45.00US$36.00n/a17
Nov ’24US$36.06
US$40.45
+12.2%
6.8%US$45.00US$36.00US$44.2117
Oct ’24US$35.57
US$40.33
+13.4%
6.6%US$45.00US$36.00US$44.6815
Sep ’24US$35.00
US$40.29
+15.1%
6.9%US$45.00US$36.00US$42.8814
Aug ’24US$35.53
US$39.93
+12.4%
7.2%US$44.00US$34.00US$42.5814
Jul ’24US$33.94
US$39.57
+16.6%
7.4%US$44.00US$34.00US$42.8814
Jun ’24US$33.33
US$39.50
+18.5%
7.3%US$44.00US$34.00US$40.6814
May ’24US$34.88
US$39.14
+12.2%
6.7%US$44.00US$35.00US$41.5914
Apr ’24US$34.45
US$38.80
+12.6%
7.0%US$44.00US$34.00US$41.3215
Mar ’24US$34.48
US$38.53
+11.8%
6.8%US$44.00US$34.00US$39.0015
Feb ’24US$34.80
US$38.17
+9.7%
8.5%US$44.00US$31.00US$38.8515
Jan ’24US$32.84
US$37.75
+15.0%
8.4%US$44.00US$31.00US$36.7214
Dec ’23US$33.84
US$38.00
+12.3%
7.9%US$44.00US$31.00US$36.6113
Nov ’23US$34.49
US$37.31
+8.2%
8.8%US$43.00US$31.00US$36.0613

Analyst Forecast: Target price is less than 20% higher than the current share price.

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