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MPLX

NYSE:MPLX
Snowflake Description

Solid track record and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MPLX
NYSE
$25B
Imp Market Cap
  1. Home
  2. US
  3. Energy
Company description

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. The last earnings update was 15 days ago. More info.


Add to Portfolio Compare Print
  • MPLX is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
MPLX Share Price and Events
7 Day Returns
-0.7%
NYSE:MPLX
0.3%
US Oil and Gas
0.2%
US Market
1 Year Returns
-12.3%
NYSE:MPLX
-15.4%
US Oil and Gas
2.9%
US Market
MPLX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
MPLX (MPLX) -0.7% -3.9% -7.3% -12.3% -4.1% -45.4%
US Oil and Gas 0.3% -5.9% -0.9% -15.4% -1.6% -32.5%
US Market 0.2% -1.6% 2.4% 2.9% 36.1% 41%
1 Year Return vs Industry and Market
  • MPLX outperformed the Oil and Gas industry which returned -15.4% over the past year.
  • MPLX underperformed the Market in United States of America which returned 2.9% over the past year.
Price Volatility
MPLX
Industry
5yr Volatility vs Market

MPLX Value

 Is MPLX undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of MPLX to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for MPLX.

NYSE:MPLX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.9%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:MPLX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.9
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.902 (1 + (1- 21%) (56.24%))
1.203
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.203 * 5.96%)
9.9%

Discounted Cash Flow Calculation for NYSE:MPLX using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for MPLX is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:MPLX DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.9%)
2019 1,004.94 Est @ 25.18% 914.42
2020 1,190.31 Est @ 18.45% 985.53
2021 1,353.75 Est @ 13.73% 1,019.89
2022 1,494.96 Est @ 10.43% 1,024.82
2023 1,616.35 Est @ 8.12% 1,008.23
2024 1,721.47 Est @ 6.5% 977.08
2025 1,813.94 Est @ 5.37% 936.82
2026 1,897.00 Est @ 4.58% 891.47
2027 1,973.34 Est @ 4.02% 843.81
2028 2,045.09 Est @ 3.64% 795.72
Present value of next 10 years cash flows $9,397.80
NYSE:MPLX DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $2,045.09 × (1 + 2.73%) ÷ (9.9% – 2.73%)
$29,304.32
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $29,304.32 ÷ (1 + 9.9%)10
$11,402.02
NYSE:MPLX Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $9,397.80 + $11,402.02
$20,799.82
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $20,799.82 / 794.35
$26.18
NYSE:MPLX Discount to Share Price
Calculation Result
Value per share (USD) From above. $26.18
Current discount Discount to share price of $31.19
= -1 x ($31.19 - $26.18) / $26.18
-19.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of MPLX is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for MPLX's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are MPLX's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:MPLX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $2.29
NYSE:MPLX Share Price ** NYSE (2019-05-23) in USD $31.19
United States of America Oil and Gas Industry PE Ratio Median Figure of 101 Publicly-Listed Oil and Gas Companies 13.71x
United States of America Market PE Ratio Median Figure of 3,085 Publicly-Listed Companies 17.79x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of MPLX.

NYSE:MPLX PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:MPLX Share Price ÷ EPS (both in USD)

= 31.19 ÷ 2.29

13.6x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • MPLX is good value based on earnings compared to the US Oil and Gas industry average.
  • MPLX is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does MPLX's expected growth come at a high price?
Raw Data
NYSE:MPLX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.6x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
4.9%per year
United States of America Oil and Gas Industry PEG Ratio Median Figure of 76 Publicly-Listed Oil and Gas Companies 0.49x
United States of America Market PEG Ratio Median Figure of 2,123 Publicly-Listed Companies 1.54x

*Line of best fit is calculated by linear regression .

NYSE:MPLX PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 13.6x ÷ 4.9%

2.76x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • MPLX is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on MPLX's assets?
Raw Data
NYSE:MPLX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $8.41
NYSE:MPLX Share Price * NYSE (2019-05-23) in USD $31.19
United States of America Oil and Gas Industry PB Ratio Median Figure of 195 Publicly-Listed Oil and Gas Companies 1.14x
United States of America Market PB Ratio Median Figure of 5,201 Publicly-Listed Companies 1.84x
NYSE:MPLX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:MPLX Share Price ÷ Book Value per Share (both in USD)

= 31.19 ÷ 8.41

3.71x

* Primary Listing of MPLX.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • MPLX is overvalued based on assets compared to the US Oil and Gas industry average.
X
Value checks
We assess MPLX's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. MPLX has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

MPLX Future Performance

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

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
4.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is MPLX expected to grow at an attractive rate?
  • MPLX's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • MPLX's earnings growth is positive but not above the United States of America market average.
  • MPLX's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:MPLX Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:MPLX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 4.9%
NYSE:MPLX Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts -3.4%
United States of America Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 12.7%
United States of America Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 4.6%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:MPLX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:MPLX Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 5,726 3,658 2,116 2
2020-12-31 7,183 3,473 2,130 3
2019-12-31 6,630 3,201 1,989 2
NYSE:MPLX Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 6,402 2,994 1,821
2018-12-31 6,185 2,826 1,743
2018-09-30 5,571 2,596 1,455
2018-06-30 4,880 2,353 1,078
2018-03-31 4,267 1,980 744
2017-12-31 3,789 1,907 411
2017-09-30 3,603 1,854 347
2017-06-30 3,477 1,665 307
2017-03-31 3,343 1,547 172
2016-12-31 3,103 1,491 1
2016-09-30 2,582 1,057 -81
2016-06-30 1,965 837 -122

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • MPLX's earnings are expected to grow by 4.9% yearly, however this is not considered high growth (20% yearly).
  • MPLX's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:MPLX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from MPLX Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:MPLX Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 2.65 2.75 2.49 3.00
2020-12-31 2.64 2.81 2.52 5.00
2019-12-31 2.48 2.51 2.43 3.00
NYSE:MPLX Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 2.29
2018-12-31 2.29
2018-09-30 2.19
2018-06-30 1.91
2018-03-31 1.62
2017-12-31 1.07
2017-09-30 0.93
2017-06-30 0.86
2017-03-31 0.50
2016-12-31 0.00
2016-09-30 -0.29
2016-06-30 -0.57

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • MPLX is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess MPLX's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
MPLX has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

MPLX Past Performance

  How has MPLX performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare MPLX's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • MPLX has delivered over 20% year on year earnings growth in the past 5 years.
  • MPLX's 1-year earnings growth exceeds its 5-year average (144.8% vs 66.8%)
  • MPLX's earnings growth has exceeded the US Oil and Gas industry average in the past year (144.8% vs 31.8%).
Earnings and Revenue History
MPLX's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from MPLX Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:MPLX Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 6,402.00 1,821.00 304.00
2018-12-31 6,185.00 1,743.00 291.00
2018-09-30 5,571.00 1,455.00 273.00
2018-06-30 4,880.00 1,078.00 256.00
2018-03-31 4,267.00 744.00 241.00
2017-12-31 3,789.00 411.00 230.00
2017-09-30 3,603.00 347.00 230.00
2017-06-30 3,477.00 307.00 227.00
2017-03-31 3,343.00 172.00 233.00
2016-12-31 3,103.00 1.00 228.00
2016-09-30 2,582.00 -81.00 192.00
2016-06-30 1,965.00 -122.00 161.00
2016-03-31 1,397.00 -38.00 119.00
2015-12-31 1,098.00 99.00 95.00
2015-09-30 766.80 145.60 85.90
2015-06-30 690.80 140.20 76.20
2015-03-31 611.70 119.80 71.10
2014-12-31 793.00 115.00 81.00
2014-09-30 534.80 108.10 60.40
2014-06-30 520.60 101.50 58.10
2014-03-31 508.90 92.20 56.10
2013-12-31 486.00 76.00 53.00
2013-09-30 489.00 -32.50 52.10
2013-06-30 486.30 -16.60 50.30
2013-03-31 474.80 -5.10 53.40
2012-12-31 462.20 12.90 49.80
2012-09-30 438.00 126.60 49.50
2012-06-30 426.20 129.00 49.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst MPLX has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • MPLX used its assets more efficiently than the US Oil and Gas industry average last year based on Return on Assets.
  • MPLX has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess MPLX's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
MPLX has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

MPLX Health

 How is MPLX's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up MPLX's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • MPLX's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • MPLX's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of MPLX's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from MPLX Company Filings, last reported 1 month ago.

NYSE:MPLX Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 7,933.00 14,327.00 93.00
2018-12-31 7,868.00 13,392.00 68.00
2018-09-30 7,956.00 12,889.00 37.00
2018-06-30 7,955.00 11,874.00 3.00
2018-03-31 7,978.00 11,861.00 2.00
2017-12-31 10,973.00 7,331.00 5.00
2017-09-30 11,086.00 7,050.00 3.00
2017-06-30 10,909.00 6,666.00 293.00
2017-03-31 10,700.00 6,654.00 265.00
2016-12-31 12,110.00 4,422.00 234.00
2016-09-30 11,154.00 4,411.00 208.00
2016-06-30 10,466.00 4,400.00 35.00
2016-03-31 9,655.00 5,153.00 4.00
2015-12-31 9,667.00 5,263.00 43.00
2015-09-30 493.10 753.30 90.40
2015-06-30 492.40 753.40 130.40
2015-03-31 476.00 757.80 132.50
2014-12-31 463.00 644.00 27.00
2014-09-30 833.30 265.00 32.20
2014-06-30 828.70 265.20 43.20
2014-03-31 821.10 280.40 40.60
2013-12-31 1,114.10 10.50 54.10
2013-09-30 1,121.80 10.70 86.90
2013-06-30 1,128.60 10.90 115.30
2013-03-31 1,236.20 11.10 227.90
2012-12-31 1,226.80 11.30 216.70
2012-09-30 1,175.60 11.40 68.50
2012-06-30 1,435.30 11.60 0.60
  • MPLX's level of debt (180.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (34.1% vs 180.6% today).
  • Debt is well covered by operating cash flow (20.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.1x coverage).
X
Financial health checks
We assess MPLX's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. MPLX has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

MPLX Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
8.43%
Current annual income from MPLX dividends. Estimated to be 9.21% next year.
If you bought $2,000 of MPLX shares you are expected to receive $169 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • MPLX's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • MPLX's dividend is above the markets top 25% of dividend payers in United States of America (3.7%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:MPLX Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
United States of America Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 66 Stocks 3.7%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2005 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:MPLX Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 3.33 2.00
2022-12-31 3.17 2.00
2021-12-31 3.01 6.00
2020-12-31 2.87 13.00
2019-12-31 2.68 12.00
NYSE:MPLX Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-29 2.630 8.306
2019-01-25 2.590 7.755
2018-10-26 2.550 7.772
2018-07-25 2.510 7.007
2018-04-25 2.470 7.049
2018-01-26 2.430 7.042
2017-10-25 2.350 6.523
2017-08-03 2.250 6.568
2017-07-27 2.250 6.230
2017-04-26 2.160 6.320
2017-01-25 2.080 5.621
2016-10-25 2.060 6.150
2016-07-22 2.040 6.261
2016-04-19 2.020 6.218
2016-01-25 2.000 7.756
2015-10-20 1.880 5.320
2015-08-03 1.760 3.973
2015-07-30 1.760 3.151
2015-04-20 1.640 2.373
2015-01-20 1.530 2.005
2014-10-21 1.430 2.158
2014-07-22 1.370 2.287
2014-04-22 1.310 2.206
2014-01-24 1.250 2.576
2013-10-22 1.190 3.058
2013-07-23 1.140 3.158
2013-04-30 1.090 2.922
2013-01-25 1.050 2.936

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, MPLX has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but MPLX only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of MPLX's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (0.9x coverage).
X
Income/ dividend checks
We assess MPLX's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can MPLX afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. MPLX has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

MPLX Management

 What is the CEO of MPLX's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Gary Heminger
COMPENSATION $2,862,459
AGE 65
TENURE AS CEO 6.9 years
CEO Bio

Mr. Gary R. Heminger has been Chief Executive Officer and Director of Tesoro Logistics Logistics GP, LLC since October 1, 2018. Mr. Heminger is the Chief Executive Officer of MarkWest New Mexico L.L.C. He also serves as Chairman of the Board at Andeavor Logistics LP since 2018. Mr. Heminger has been the Chief Executive Officer of Marathon Petroleum Corporation since June 30, 2011 and as its Chairman of the Board since April 27, 2016. Mr. Heminger has been the Chairman and Chief Executive Officer at MPLX GP LLC, a General Partner of MPLX LP since June 2012. He served as the President of Marathon Petroleum Corporation from June 30, 2011 to July 1, 2017. He served as an Executive Vice President of Downstream at Marathon Oil Corporation from September 2001 to June 30, 2011 and served as its Executive Vice President since January 2005. He served as the President of Marathon Petroleum Company LP since September 2001, Executive Vice President of Supply, Transportation & Marketing since January 2001, Senior Vice President of Business Development since 1999 and Vice President of Business Development since January 1998. He served as an Executive Vice President of Downstream at Marathon Petroleum Company LP. He joined Marathon Petroleum Company LP in 1975. He spent over 40 years in a variety of leadership, financial and marketing positions with Marathon Petroleum Company LP. He served as President of Marathon Ashland Petroleum LLC since September 2001, he was named Vice President of Business Development upon its formation in 1998, and Senior Vice President of Business Development in 1999. He also served as President of Refining, Marketing & Transportation Operations of Marathon Petroleum Company LP. He served for 37 years at Marathon serving in a variety of groups and functions. Along with five years in various financial and administrative roles, he served for three years in London, England as an Audit Supervisor of the Brae Project. He served as the Vice President of Western Division of Emro Marketing (predecessor of Speedway SuperAmerica LLC) since 1991 and served in several marketing and commercial roles, for eight years. From 1995 to 1996, He served as the President of Marathon Pipe Line Company and also served as Manager of Business Development & Joint Interest of Marathon Petroleum Company LP since November 1996. He served as the Chairman of the Board of Trustees at Tiffin University from 1996 to 2014. He was Chairman of Louisiana Offshore Oil Port. Mr. Heminger has been a Director of Fifth Third Bank since December 20, 2006 and Marathon Petroleum Corporation since 2011. He has been Director at PPG Industries, Inc. since July 20, 2017. He is an emeritus Trustee of the Board of trustees at Tiffin University and has been its Trustee since joining in 1991. He serves as a Director of American Chemistry Council Inc. and of JobsOhio. Mr. Heminger has been a Director at Fifth Third BanCorp since December 20, 2006 and MPLX GP LLC., since 2012. He served as Director of Northern Tier Energy LP until July 2012. He was a Member of the Oxford Institute for Energy Studies. He served as Chairman of the American Petroleum Institute (API) Downstream Committee. He serves on the Executive Committee in the U.S.-Saudi Arabian Business Council. Mr. Heminger holds an MBA from the University of Dayton in 1982. Mr. Heminger holds Executive Management Program from the University of Pennsylvania - The Wharton School. Mr. Heminger holds Bachelor’s Degree in Accounting from Tiffin University in 1976.

CEO Compensation
  • Gary's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Gary's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the MPLX management team in years:

2.3
Average Tenure
56
Average Age
  • The tenure for the MPLX management team is about average.
Management Team

Gary Heminger

TITLE
Chairman of the Board & CEO of MPLX GP LLC
COMPENSATION
$3M
AGE
65
TENURE
6.9 yrs

Mike Hennigan

TITLE
President & Director of MPLX GP LLC
COMPENSATION
$5M
AGE
59
TENURE
1.9 yrs

Pam Beall

TITLE
Executive VP
COMPENSATION
$2M
AGE
62
TENURE
2.6 yrs

John Swearingen

TITLE
Executive Vice President of Logistics & Storage of MPLX GP LLC
COMPENSATION
$2M
AGE
59
TENURE
3.4 yrs

Greg Floerke

TITLE
Executive Vice President of Gathering & Processing of MPLX GP LLC
COMPENSATION
$2M
AGE
55
TENURE
3.4 yrs

Shawn Lyon

TITLE
Vice President of Operations of MPLX GP LLC
AGE
50
TENURE
0.5 yrs

Kristina Kazarian

TITLE
Vice President of Investor Relations - MPLX GP LLC
AGE
35
TENURE
1.3 yrs

Molly Benson

TITLE
VP, Chief Securities
AGE
51
TENURE
3.2 yrs

Sue Gagle

TITLE
General Counsel of MPLX GP LLC
AGE
52
TENURE
1.6 yrs

Ray Brooks

TITLE
Senior Vice President of MPLX GP LLC
AGE
57
TENURE
1.3 yrs
Board of Directors Tenure

Average tenure and age of the MPLX board of directors in years:

6.6
Average Tenure
64
Average Age
  • The tenure for the MPLX board of directors is about average.
Board of Directors

Gary Heminger

TITLE
Chairman of the Board & CEO of MPLX GP LLC
COMPENSATION
$3M
AGE
65
TENURE
6.9 yrs

Mike Hennigan

TITLE
President & Director of MPLX GP LLC
COMPENSATION
$5M
AGE
59
TENURE
1.9 yrs

Pam Beall

TITLE
Executive VP
COMPENSATION
$2M
AGE
62
TENURE
5.3 yrs

Garry Peiffer

TITLE
Director of MPLX GP LLC
COMPENSATION
$191K
AGE
67
TENURE
6.9 yrs

Chris Helms

TITLE
Director of MPLX GP LLC
COMPENSATION
$190K
AGE
64
TENURE
6.6 yrs

Dan Sandman

TITLE
Lead Director of MPLX GP LLC
COMPENSATION
$200K
AGE
69

Don Templin

TITLE
Director of MPLX GP LLC
COMPENSATION
$4M
AGE
55
TENURE
6.9 yrs

Tim Griffith

TITLE
Director of MPLX GP LLC
COMPENSATION
$521K
AGE
49
TENURE
4.2 yrs

John Surma

TITLE
Director of MPLX GP LLC
COMPENSATION
$175K
AGE
64
TENURE
6.6 yrs

Frank Semple

TITLE
Director of MPLX GP LLC
COMPENSATION
$191K
AGE
66
TENURE
3.4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess MPLX's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. MPLX has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

MPLX News

Simply Wall St News

With An ROE Of 16.8%, Has MPLX LP's (NYSE:MPLX) Management Done Well?

and want to begin learning the link between company’s fundamentals and stock market performance. … This can be measured by looking at the company’s financial leverage. … Peeling the layers of ROE – trisecting a company’s profitability

Simply Wall St -

Does MPLX LP's (NYSE:MPLX) PE Ratio Signal A Selling Opportunity?

But can investors make a closing judgement of the company’s value based on this bigger multiple. … The answer is no, since important variables like the company’s potential to grow and debt levels are ignored in the PE’s calculation … This article will cover some key aspects we should consider in order to determine the best multiple to be used for

Simply Wall St -

Does MPLX LP's (NYSE:MPLX) PE Ratio Signal A Selling Opportunity?

The content of this article will benefit those of you who are starting to educate yourself about investing in the stock market. … and want to better understand how you can grow your money by investing in MPLX LP (NYSE:MPLX). … Although some investors may jump to the conclusion that you should avoid the stock or sell if you own it, understanding the assumptions behind the P/E ratio might change your mind.

Simply Wall St -

Be Careful About Buying MPLX LP (NYSE:MPLX) For The 6.80% Dividend

View our latest analysis for MPLX How I analyze a dividend stock When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas: Is their annual yield among the top 25% of dividend payers? … If there's one type of stock you want to be reliable, it's dividend stocks and their stable income-generating ability. … Relative to peers, MPLX generates a yield of 6.80%, which is high for Oil and Gas stocks.Next Steps: After digging a little deeper into MPLX's yield, it's easy to see why you should be cautious investing in the company just for the dividend.

Simply Wall St -

Does MPLX LP's (NYSE:MPLX) PE Ratio Signal A Selling Opportunity?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for MPLX Price per share = $34.79 Earnings per share = $1.618 ∴ Price-Earnings Ratio = $34.79 ÷ $1.618 = 21.5x On its own, the P/E ratio doesn’t tell you much; however, it becomes extremely useful when you compare it with other similar companies. … Ultimately, our goal is to compare the stock’s P/E ratio to the average of companies that have similar attributes to MPLX, such as company lifetime and products sold. … For example, if you are inadvertently comparing riskier firms with MPLX, then MPLX’s P/E would naturally be higher than its peers since investors would reward its lower risk with a higher price.

Simply Wall St -

MPLX LP (NYSE:MPLX): Ex-Dividend Is In 3 Days, Should You Buy?

See our latest analysis for MPLX 5 questions I ask before picking a dividend stock When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas: Is it paying an annual yield above 75% of dividend payers? … But if you are not exclusively a dividend investor, the stock could still be an interesting investment opportunity. … Given that this is purely a dividend analysis, you should always research extensively before deciding whether or not a stock is an appropriate investment for you.

Simply Wall St -

With An ROE Of 7.62%, Has MPLX LP's (NYSE:MPLX) Management Done Well?

See our latest analysis for MPLX Breaking down ROE — the mother of all ratios Firstly, Return on Equity, or ROE, is simply the percentage of last years’ earning against the book value of shareholders’ equity. … Return on Equity = Net Profit ÷ Shareholders Equity ROE is measured against cost of equity in order to determine the efficiency of MPLX’s equity capital deployed. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity NYSE:MPLX Last Perf Mar 16th 18 Basically, profit margin measures how much of revenue trickles down into earnings which illustrates how efficient the business is with its cost management.

Simply Wall St -

Only 3 Days Left Before MPLX LP (NYSE:MPLX) Will Start Trading Ex-Dividend, Is It Worth Buying?

See our latest analysis for MPLX How I analyze a dividend stock When researching a dividend stock, I always follow the following screening criteria: Is it the top 25% annual dividend yield payer? … NYSE:MPLX Historical Dividend Yield Jan 29th 18 How well does MPLX fit our criteria? … If dividend is a key criteria in your investment consideration, then you need to make sure the dividend stock you're eyeing out is reliable in its payments.

Simply Wall St -

What Investors Should Know About MPLX LP's (MPLX) Financial Strength

MPLX's debt-to-equity ratio stands at 63.59%, which means, while the company’s debt could pose a problem for its earnings stability, it is not at an alarmingly high level yet. … NYSE:MPLX Historical Debt Dec 5th 17 A basic way to evaluate MPLX's debt management is to see whether the cash flow generated from the business is at a relatively high level compared to the debt capital invested. … At its current level of cash flow coverage, investors should ask themselves if they believe MPLX can sustainably improve cash flows to better cushion for events which may require debt repayment.

Simply Wall St -

An Intrinsic Value Calculation For MPLX LP (MPLX) Shows It's 38.55% Undervalued

5-year cash flow forecast 2017 2018 2019 2020 2021 Levered FCF (USD, Millions) $-602.00 $571.00 $2,387.00 $2,542.00 $2,622.00 Source Analyst x1 Analyst x1 Analyst x1 Analyst x1 Analyst x1 Present Value Discounted @ 11.1% $-541.83 $462.57 $1,740.46 $1,668.24 $1,548.76 Present Value of 5-year Cash Flow (PVCF)= $4,878 We now need to calculate the Terminal Value, which accounts for all the future cash flows after the five years. … Terminal Value (TV) = FCF2021 × (1 + g) ÷ (r – g) = $2,622 × (1 + 2.5%) ÷ (11.1% – 2.5%) = $31,119 Present Value of Terminal Value (PVTV) = TV / (1 + r)5 = $31,119 / ( 1 + 11.1%)5 = $18,381 The total value is the sum of cash flows for the next five years and the discounted terminal value, which results in the Total Equity Value, which in this case is $23,259. … NYSE:MPLX Intrinsic Value Nov 17th 17 Important assumptions Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows.

Simply Wall St -

MPLX Company Info

Description

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. The company also provides fuels distribution services. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; and transportation, storage, and distribution of crude oil and refined petroleum products. MPLX LP also engages in the inland marine business, which transports light products, heavy oils, crude oil, renewable fuels, chemicals, and feedstocks in the Midwest and Gulf Coast regions through inland marine vessels. The company’s assets include approximately 8,000 miles of crude oil and refined product pipelines across 17 states; terminal facilities for refined petroleum products with a combined total shell capacity of approximately 23.7 million barrels primarily located in the Midwest, Gulf Coast, and Southeast regions; tank farm assets with a storage capacity of approximately 56 million barrels; and 48 rail and truck racks, 21 docks, and gasoline blenders. Its storage caverns consist of butane, propane, and liquefied petroleum gas storage with a combined capacity of 4,175 million barrels located in Neal, West Virginia; Woodhaven, Michigan; and Robinson, Illinois. The company's marine business owns and operates 23 boats, 256 barges, and third-party chartered equipment, as well as a marine repair facility located on the Ohio River. MPLX GP LLC acts as the general partner of MPLX LP. MPLX LP was founded in 2012 and is based in Findlay, Ohio.

Details
Name: MPLX LP
MPLX
Exchange: NYSE
Founded: 2012
$25,474,779,645
$24,775,752,327
794,349,225
Website: http://www.mplx.com
Address: MPLX LP
200 East Hardin Street,
Findlay,
Ohio, 45840,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE MPLX Common Units New York Stock Exchange US USD 26. Oct 2012
DB M0X Common Units Deutsche Boerse AG DE EUR 26. Oct 2012
LSE 0S2U Common Units London Stock Exchange GB USD 26. Oct 2012
Number of employees
Current staff
Staff numbers
0
MPLX employees.
Industry
Oil and Gas Storage and Transportation
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/24 00:31
End of day share price update: 2019/05/23 00:00
Last estimates confirmation: 2019/05/23
Last earnings filing: 2019/05/09
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.