Track market-moving stories before they get noisy

MPLX LP (MPLX - Free Report) closed at $59.13 in the latest trading session, marking a +1.63% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.52%. Meanwhile, the Dow experienced a drop of 1.24%, and the technology-dominated Nasdaq saw a decrease of 0.21%.

The company's stock has climbed by 0.34% in the past month, falling short of the Oils-Energy sector's gain of 5.63% and outpacing the S&P 500's loss of 1.21%.

Market participants will be closely following the financial results of MPLX LP in its upcoming release. The company plans to announce its earnings on November 3, 2026. It is anticipated that the company will report an EPS of $1.12, marking a 26.32% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $3.29 billion, down 9.04% from the prior-year quarter.

MPLX's full-year Zacks Consensus Estimates are calling for earnings of $4.25 per share and revenue of $13.2 billion. These results would represent year-over-year changes of -11.83% and +1.59%, respectively.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for MPLX LP. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.13% downward. Right now, MPLX LP possesses a Zacks Rank of #3 (Hold).

Looking at its valuation, MPLX LP is holding a Forward P/E ratio of 13.69. This denotes a discount relative to the industry average Forward P/E of 18.44.

It is also worth noting that MPLX currently has a PEG ratio of 5.54. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Oil and Gas - Production and Pipelines industry was having an average PEG ratio of 1.89.

The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 86, finds itself in the top 35% echelons of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

Treasury yields are near multi-decade highs. The S&P 500 (^GSPC -1.09%) Shiller CAPE ratio is close to the second-highest level ever. Inflation is resurging. The case for owning high-yield energy stocks has rarely been more compelling.

That's especially true for pipeline stocks. The midstream sector continues to trade at historically attractive valuations, even after delivering a strong year-to-date performance. Here are three high-yield energy stocks in the midstream sector to load up on in October.

Image source: Getty Images.

1. Enterprise Products Partners LP Enterprise Products Partners LP (EPD +3.51%) just might be the top midstream stock for income investors. No other midstream company boasts a stronger balance sheet. Enterprise's management team is arguably the best in the industry.

Sure, you can find higher yields. However, Enterprise Products Partners' forward distribution yield of 6.3% remains attractive. More importantly, the distribution is reliable, with Enterprise's distribution coverage ratio of 1.9x.

EPD Enterprise Products Partners$36.82+$1.25 (+3.51%)

NYSE · As of 4:00 PM ET 10/16/26

It also helps that Enterprise Products Partners has increased its distribution for 28 consecutive years. This record puts the limited partnership in an elite group of midstream Dividend Champions.

Like other midstream operators, Enterprise benefits from multiple tailwinds. In particular, artificial intelligence (AI) data centers are driving tremendous demand for natural gas. The LP's pipelines and Permian Basin gas processing facilities, along with its liquid natural gas (LNG) export terminals, will enable it to capitalize on these AI opportunities.

2. Energy Transfer LP Energy Transfer LP (ET +1.91%) edges Enterprise Products Partners on a couple of fronts. First, its yield of 6.8% is higher. Second, the company's distributable cash flow (DCF) coverage ratio of 2.28x in the first half of 2026 was also higher.

Want more good news? Energy Transfer plans to increase its distribution by 3% to 5% per year over the long term. The LP recently bumped up its distribution payout by more than 3%, its 19th consecutive quarterly distribution increase.

ET Energy Transfer$20.26+$0.38 (+1.91%)

TXSE · As of 4:00 PM ET 10/16/26

Energy Transfer's business is more diversified than most of its peers. The company transports crude oil, natural gas, and natural gas liquids (NGLs), and has other operations. None of its business segments generates more than 30% of total adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA).

The LP has an obvious growth catalyst. Its 442-mile Hugh Brinson Pipeline is now operational, transporting natural gas from West Texas processing facilities to existing pipelines south of the Dallas-Fort Worth area. Phase 2, which includes additional downstream compression, should go into service in the first quarter of 2027.

3. MPLX LP For investors who want to turbocharge their income, check out MPLX LP (MPLX +1.82%). This midstream energy leader pays a forward distribution yield of roughly 7.5%.

Granted, MPLX's distribution coverage ratio of 1.3x is lower than those of Enterprise Products Partners and Energy Transfer. However, that's still more than enough to keep the distributions flowing. And they're growing, too: MPLX increased its distribution by 12.5% in 2024 and 2025. It's targeting similar increases in 2026 and 2027.

MPLX MPLX$58.16+$1.04 (+1.82%)

NYSE · As of 4:00 PM ET 10/16/26

Like its peers, MPLX continues to reap the rewards from the AI data center boom that's driving natural gas demand. Unsurprisingly, the company is allocating over 90% of its growth capital this year to investments in its natural gas and NGL segments.

Several of those investments are already beginning to pay off or will do so soon. MPLX's Harmon Creek III processing plant began operations in August 2026. In the fourth quarter of this year, the company should complete its Belvieu Alternative Natural Gas Liquids (BANGL) pipeline and Delaware sour gas treating facility expansions.

Three pipeline stocks, three juicy distributions A $10,000 investment each in Enterprise Products Partners, Energy Transfer, and MPLX would generate annual income of around $2,068. Even better, all three midstream energy companies are likely to increase their distributions going forward.

None of these pipeline stocks need oil prices to remain elevated to continue paying income investors. They don't need the Federal Reserve to keep rates unchanged, either. All they require is for the natural gas and other fuels to keep flowing through their pipelines. That should be a safe bet.

MPLX LP (MPLX - Free Report) closed at $58.06 in the latest trading session, marking a +1.65% move from the prior day. This move outpaced the S&P 500's daily loss of 1.09%. Meanwhile, the Dow lost 0.34%, and the Nasdaq, a tech-heavy index, lost 2.15%.

Shares of the company have depreciated by 2.56% over the course of the past month, underperforming the Oils-Energy sector's gain of 0.3%, and the S&P 500's gain of 2.44%.

Investors will be eagerly watching for the performance of MPLX LP in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 3, 2026. The company is predicted to post an EPS of $1.12, indicating a 26.32% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.29 billion, down 9.1% from the year-ago period.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.26 per share and a revenue of $13.2 billion, indicating changes of -11.62% and +1.57%, respectively, from the former year.

Investors should also pay attention to any latest changes in analyst estimates for MPLX LP. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.03% higher within the past month. Right now, MPLX LP possesses a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that MPLX LP has a Forward P/E ratio of 13.42 right now. This indicates a discount in contrast to its industry's Forward P/E of 18.24.

We can additionally observe that MPLX currently boasts a PEG ratio of 5.43. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. MPLX's industry had an average PEG ratio of 1.85 as of yesterday's close.

The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 23, this industry ranks in the top 10% of all industries, numbering over 250.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

October's top GVAS dividend stocks offer projected net gains of 27.17% to 67.83% by October 2027, with an average estimated return of 42.47%. Thirteen of twenty-seven 'safer' lowest-priced GVAS stocks are currently fair-priced and considered ideal for purchase, balancing positive free cash flow and dividend yields. Yield-focused strategies highlight energy and shipping names, but caution is advised for stocks paying dividends from borrowed funds or with negative free cash flow margins.

Investors with an interest in Oil and Gas - Production and Pipelines stocks have likely encountered both Transportadora De Gas Sa Ord B (TGS - Free Report) and MPLX LP (MPLX - Free Report) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.

We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits.

Transportadora De Gas Sa Ord B has a Zacks Rank of #2 (Buy), while MPLX LP has a Zacks Rank of #3 (Hold) right now. The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that TGS has an improving earnings outlook. But this is only part of the picture for value investors.

Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.

Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years.

TGS currently has a forward P/E ratio of 9.83, while MPLX has a forward P/E of 13.48. We also note that TGS has a PEG ratio of 0.54. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. MPLX currently has a PEG ratio of 5.46.

Another notable valuation metric for TGS is its P/B ratio of 1.6. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. For comparison, MPLX has a P/B of 4.08.

Based on these metrics and many more, TGS holds a Value grade of B, while MPLX has a Value grade of C.

TGS is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. And, based on the above valuation metrics, we feel that TGS is likely the superior value option right now.

A 7.6% yield on a pipeline partnership sets off alarm bells for most income investors, but MPLX's cash flow numbers tell a surprisingly different story about what that payout actually signals.

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

MPLX (NYSE:MPLX | MPLX Price Prediction) pays an annualized distribution of $4.306 per unit. At a recent price of $56.39, that works out to a yield of roughly 7.6%. A yield that high usually signals stress (we listed the seven warning signs a big payout is about to be cut in a free report here). At MPLX, the cash flow data points the other way.

Coverage Ratio Settles the Safety Question Partnerships like MPLX are judged on distributable cash flow (DCF), which is the cash left for unitholders after interest and maintenance spending. The coverage ratio divides DCF by distributions paid. In Q2 2026, DCF came in at $1.45 billion against $1.092 billion in distributions paid, which is about 1.33x coverage. Management told analysts:

“Absolutely. We continue to target our 1.3 coverage ratio for both 2026 and 2027 and frankly beyond.”

Leverage, measured as debt to EBITDA, stood at 3.7x, still under the 4.0x target. It has climbed, though: the ratio rose from 3.1x during 2025 after deals. Q1 interest expense also rose to $291 million from $229 million.

Toll Road Economics With Some Commodity Exposure Midstream works like a toll road. MPLX takes in fees based on the volumes moving through its pipes and plants, so it depends far less on commodity prices than a driller does. Gathering volumes rose 15% year over year, and Marcellus processing ran at 96% utilization. The call did not give a fee-based revenue percentage. Commodity exposure does exist, though: butane blending added over $20 million on strong prices. Crude pipeline throughput fell 5%.

Peers Show What MPLX Gives Up for Growth Enterprise Products Partners (NYSE:EPD) reported Q2 coverage of 1.9 times but raised its distribution only 2.8%. Energy Transfer (NYSE:ET) delivered its nineteenth consecutive quarterly increase, which was more than 3% over a year earlier. MPLX, by contrast, raises its payout 12.5% a year and accepts a smaller margin to do it.

Marathon Petroleum Holds the Controlling Stake Marathon Petroleum (NYSE:MPC) owns a majority of MPLX’s common units and is its main customer. A controlling parent can act in its own interest, and that is a real risk for minority unitholders. For now, Marathon’s interests line up with theirs, since the distribution sends cash back to the parent. Management said:

“We do not see any reason to change that relationship.”

Tax Rules Retirees Need to Know MPLX investors own partnership units. At tax time they receive a Schedule K-1 instead of the usual 1099. K-1s often arrive late in tax season, which can delay a return you prepare yourself. Most of each distribution counts as a return of capital. That reduces your cost basis and postpones the tax, but it creates a larger taxable gain when you sell.

Holding units in an IRA brings in unrelated business taxable income (UBTI). Above an IRS threshold, the account itself can owe tax and may have to file its own return. Because an IRA already postpones taxes, the partnership’s built-in tax advantage mostly goes to waste there.

Conclusion and the Trigger to Watch The distribution is safe. Coverage sits above target, leverage is below its ceiling, and management says the projects needed for 2027 are already in hand:

“2027, we’re not looking for inorganic M&A to be able to meet that.”

Growth this year is weighted to the second half. Management says “third quarter should be stronger than the second quarter.” If coverage falls below 1.3x while leverage moves above 4.0x, the planned 12.5% raises are at risk, and the conclusion changes.

Contact [email protected] for any questions or corrections.

Key Takeaways Kinder Morgan relies on take-or-pay contracts to generate stable fee-based revenues.MPLX benefits from long-term shipper contracts and fee-based gathering systems.Williams connects key U.S. basins and serves demand for natural gas and clean-energy generation. The outlook for the U.S.-Iran conflict is uncertain, so the crude pricing environment will remain volatile. West Texas Intermediate crude, which was trading above $100 per barrel, has declined and is now hovering around $90. However, not all stocks are exposed to the vulnerability in crude price movements. Three midstream players like Kinder Morgan, Inc. (KMI - Free Report) , MPLX LP (MPLX - Free Report) and The Williams Companies, Inc. (WMB - Free Report) are well-poised to weather the Middle East tension-induced uncertainty. Let's delve deeper.

Resilient Business Model of Midstream BusinessStocks in the midstream space have lower exposure to volatility in commodity prices than oil and gas producers. This is because midstream players generate stable fee-based revenues since the transportation and storage assets are being booked by shippers for the long term. Hence, their business model is relatively low-risk, which indicates considerably less exposure to oil and gas prices and volume risks.

3 Pipeline Stocks to Keep an Eye on: KMI, MPLX & WMBKinder Morgan: With its operating interests in oil and gas pipeline networks spread across 78,000 miles, KMI is a leading energy infrastructure company in North America. It derives most of its earnings from take-or-pay contracts, generating stable fee-based revenues.

The midstream energy major, carrying a Zacks Rank #3 (Hold), is likely to grow on the back of its business model, which is relatively resilient to volume and commodity price risks. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

MPLX: MPLX’s midstream business comprises transporting crude oil and refined products. The #3 Ranked partnership generates stable cash flows from its long-term contracts with the shippers. Its crude oil and natural gas gathering systems also generate stable fee-based revenues.

The Williams Companies: The company is well-poised to capitalize on the mounting demand for clean energy since it is engaged in transporting, storing, gathering and processing natural gas and natural gas liquids.

With its pipeline networks spread across more than 30,000 miles, The Williams Companies, with a Zacks Rank of 3, connects premium basins in the United States to the key market. WMB’s assets can meet a considerable proportion of the nation’s natural gas consumption, which is utilized for heating purposes and clean-energy generation.

In the latest trading session, MPLX LP (MPLX - Free Report) closed at $56.32, marking a -1.28% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 0.25% for the day. Meanwhile, the Dow lost 0.86%, and the Nasdaq, a tech-heavy index, added 0.24%.

The stock of company has fallen by 3.45% in the past month, lagging the Oils-Energy sector's loss of 0.62% and the S&P 500's loss of 0.42%.

Investors will be eagerly watching for the performance of MPLX LP in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 3, 2026. In that report, analysts expect MPLX LP to post earnings of $1.13 per share. This would mark a year-over-year decline of 25.66%. Meanwhile, the latest consensus estimate predicts the revenue to be $3.3 billion, indicating a 8.71% decrease compared to the same quarter of the previous year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.26 per share and a revenue of $13.22 billion, signifying shifts of -11.62% and +1.71%, respectively, from the last year.

Any recent changes to analyst estimates for MPLX LP should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.53% fall in the Zacks Consensus EPS estimate. MPLX LP currently has a Zacks Rank of #3 (Hold).

In terms of valuation, MPLX LP is currently trading at a Forward P/E ratio of 13.41. This expresses a discount compared to the average Forward P/E of 18.26 of its industry.

One should further note that MPLX currently holds a PEG ratio of 5.43. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Oil and Gas - Production and Pipelines industry stood at 1.76 at the close of the market yesterday.

The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 68, placing it within the top 28% of over 250 industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

Dividend-oriented investors carefully look at a stock's dividend yield. There's often a high-but-safe spot, generally around 3% to 4%, and stocks that deliver yields above that are generally considered riskier.

However, when you look at pipeline or midstream energy stocks, the yield is higher, generally between 5% and 8%, because these companies generate highly predictable, fee-based cash flows backed by long-term, take-or-pay contracts.

Two of the most popular pipeline stocks with high yields are MPLX (MPLX -2.04%) and Energy Transfer (ET -0.69%), both of which deliver dividends above 6%. Let's see which has the safer dividend.

Image source: Getty Images.

Energy Transfer is on a dividend hot streak Energy Transfer, based in Dallas, operates more than 140,000 miles of pipeline and associated energy infrastructure. In July, it raised its dividend for the 19th consecutive quarter to $0.34 per share, and at the stock's current price, the yield is around 6.56%. That's superior to most of its midstream competitors. Its payout ratio, as of the second quarter, is 56%, well within the safety limits for a pipeline stock.

Today's Change

(

-0.69

%) $

-0.14

Current Price

$

20.19

The company grew distributable free cash flow (FCF) by 32% year over year in the second quarter to $2.59 billion. That means its FCF per share is around $0.79, implying an FCF distribution ratio of around 43%.

The company has a diverse set of customers and benefits from the increased need for natural gas infrastructure driven by more data centers, power grid growth, and Gulf Coast natural gas liquids (NGL) export facilities. The master limited partnership has expanded its pipeline capacity.

MPLX's dividend is fueled by a cash machine MPLX, based in Findlay, Ohio, operates a network of crude oil and refined product pipelines, an inland marine business, light-product terminals, storage caverns, refinery tanks, docks, loading racks, associated piping, and crude and light-product marine terminals.

Since it went public through an initial public offering (IPO) in 2012, MPLX has raised its dividend every year. That's a longer streak than Energy Transfer, which trimmed its dividend by 50% in 2020. On top of that, MPLX's yield is higher -- 7.39% at its current share price.

Today's Change

(

-2.04

%) $

-1.18

Current Price

$

56.80

In its second-quarter report, it said it expects dividend increases of 12.5% in 2026 and 2027.

MPLX, also a master limited partnership, reported second-quarter net income of $1,077, up 2.7% year over year, and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $1,775, an increase of 5% over the year-ago period.

One weakness is that its distribution coverage is 1.3x, compared to around 1.8x for Energy Transfer, but again, its dividend is relatively safe at that ratio. The company carries significantly less long-term debt than Energy Transfer and has a lower debt-to-equity ratio.

MPLX is sponsored by Marathon Petroleum (MPC +0.66%). A vast majority of MPLX's logistics and storage revenue comes from long-term, fee-based commitments directly with MPC. This captive relationship ensures steady demand regardless of broader commodity price shifts.

It's tough to go wrong with either stock Energy Transfer's shares are up more than 24% so far this year, while MPLX's have risen just a little more than 9%.

Both companies deliver solid, dependable dividends and are spending big on expansion. Purely from a dividend safety standpoint, I prefer MPLX for its longer track record of dividend growth, cleaner balance sheet, and greater financial flexibility due to lower debt.

MPLX LP (MPLX - Free Report) closed the most recent trading day at $57.98, moving -1.41% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.03%. Meanwhile, the Dow experienced a drop of 0.31%, and the technology-dominated Nasdaq saw an increase of 0.01%.

Prior to today's trading, shares of the company had lost 0.86% lagged the Oils-Energy sector's loss of 0.34% and the S&P 500's gain of 0.53%.

The investment community will be paying close attention to the earnings performance of MPLX LP in its upcoming release. The company is slated to reveal its earnings on November 3, 2026. In that report, analysts expect MPLX LP to post earnings of $1.13 per share. This would mark a year-over-year decline of 25.66%. At the same time, our most recent consensus estimate is projecting a revenue of $3.3 billion, reflecting a 8.71% fall from the equivalent quarter last year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.26 per share and revenue of $13.22 billion. These totals would mark changes of -11.62% and +1.71%, respectively, from last year.

Any recent changes to analyst estimates for MPLX LP should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.53% lower. At present, MPLX LP boasts a Zacks Rank of #3 (Hold).

Looking at valuation, MPLX LP is presently trading at a Forward P/E ratio of 13.82. This indicates a discount in contrast to its industry's Forward P/E of 18.87.

Also, we should mention that MPLX has a PEG ratio of 5.59. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Production and Pipelines industry currently had an average PEG ratio of 1.82 as of yesterday's close.

The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 108, this industry ranks in the top 44% of all industries, numbering over 250.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

The Solitude Pipeline System has gotten the green light. You probably haven't heard of it, but the project will help connect natural gas production in the Permian Basin to demand on the Gulf Coast. Given the current global demand for natural gas, this could be a valuable capital investment project.

But what's most interesting here is that the Solitude Pipeline System is being backed by companies that are actually rivals, including pipeline owners MPLX LP (MPLX +1.40%) and Western Midstream Partners (WES +0.28%), and upstream producers Diamondback Energy (FANG -2.29%) and Devon Energy (DVN -0.23%). Here's why these competitors are teaming up.

Image source: Getty Images.

Pipeline projects are big deals Building a new pipeline can cost hundreds of millions of dollars and often more. They take years to develop. For example, the Solitude Pipeline, which received the go-ahead in mid-August of 2026, won't start transporting any product until the second half of 2029 if everything goes as planned. And that's just the first phase of the capital investment project, with a second phase expected to be completed in 2030. While cost figures haven't been provided, the key is that no revenue will be produced until gas is moving through the pipeline.

Step back and consider that fact for a second. There is a huge up-front cost and no revenue until the project is finished. That's a big burden for a company to take on. It helps greatly if you can share that burden, even if it means partnering with your competitors. That's basically what is going on with MPLX LP and Western Midstream Partners. MPLX LP will own 10% of the pipeline, with Western Midstream owning 7.5%. A private energy infrastructure company, Whitewater, owns 50%. So MPLX LP and Western Midstream Partners are actually teaming up with a third midstream competitor.

Today's Change

(

1.40

%) $

0.82

Current Price

$

59.44

Helping to ensure there's demand That's 67.5% of the project accounted for. What about the rest? Well, that's where Diamondback Energy and Devon Energy, two rivals in the upstream production side of the energy sector, come in. Upstream companies use pipelines to get their products to market, and helping fund projects ensures they have access to pipelines to support production growth. Devon Energy will own 25% of the pipeline, with Diamondback Energy at 7.5%, rounding out the final 32.5%.

All in all, this is good news for all the companies involved. And spreading the financial burden will help to ensure the project is a success. Deals like this often go unnoticed, showing up as a simple line item in a midstream operator's capital investment plans. But the group dynamic here is often how business gets done in the energy sector.

Most investors seem to be chasing the same energy infrastructure story right now. Surging power demand by AI data centers is fueling the need for more natural gas pipelines and power-generating facilities. That's causing the market to sleep on more crude-oil-focused names at a time when the oil market is experiencing its biggest supply disruption in decades due to the ongoing conflict in the Middle East.

As a result, investors may be missing out on potentially lucrative income streams. Here are three high-yield pipeline stocks you won't want to overlook if you want a big-time income stream.

Image source: Getty Images.

MPLX MPLX (MPLX -0.84%) is a diversified master limited partnership (MLP; an entity that sends a Schedule K-1 Federal tax form) formed by refining giant Marathon Petroleum. It operates crude oil and petroleum products logistics assets to support Marathon's operations and those of other third-party customers. These assets generated nearly $2.3 billion in adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the midstream company during the first half of this year, about 65% of the total. The company also has a smaller natural gas and NGL services platform that accounts for the remaining 35% of its adjusted EBITDA.

The MLP's focus on crude oil and refined products leads to it being overlooked relative to other midstream companies. As a result, it has a lower valuation and higher distribution yield than its more gas-focused rivals (currently around 7.4%).

Today's Change

(

-0.84

%) $

-0.49

Current Price

$

57.93

While MPLX currently makes most of its money providing crude oil and refined products logistics services, gas is its biggest growth driver. It's investing 90% of its organic growth capital on projects to meet growing gas and NGL infrastructure needs, including new gas processing plants, additional pipelines, and NGL fractionation and export facilities. These expansions support MPLX's growing distribution. It has increased its payout by a 12.5% in each of the past two years, and expects to continue growing it at that rate in 2026 and 2027.

Hess Midstream Hess Midstream (HESM -0.68%) is a growth-oriented midstream company that owns oil, gas, and water-handling assets in the Williston Basin of North Dakota, one of the country's most prolific oil-producing regions. Its assets support its parent company, Chevron (which acquired its former parent, Hess, last year), as well as third-party customers.

Premium Feature

Moneyball Superscore

71/100

Today's Change

(

-0.68

%) $

-0.27

Current Price

$

39.58

The pipeline company currently yields 7.8%. It's targeting to grow that payout by around 5% annually through 2028. It has delivered dividend growth above that target since 2022.

Hess Midstream invested heavily to build out its infrastructure position in the Williston Basin, which is now paying dividends. It expects minimal capital investments going forward to support its customers' contracted volume growth over the next several years. That positions it to generate strong, growing cash flows, providing significant visibility into its dividend growth plan. Hess Midstream's strong financial position also enables it to return additional cash to investors through share repurchases.

Delek Logistics Partners Delek Logistics Partners (DKL -0.76%) has the highest yield in this trio at 8%. It's very similar to MPLX as refiner Delek U.S. Holdings formed the company to support its infrastructure needs. Its operations currently span crude oil, refined products, natural gas, and water.

Today's Change

(

-0.76

%) $

-0.43

Current Price

$

56.26

The MLP has been diversifying its operations to reduce its reliance on its parent. It now gets around 70% of its EBITDA from third-party customers, up from 41% in 2023.

One thing that investors won't want to miss about Delek is the consistency of its distribution growth. The MLP has increased its distribution for 54 consecutive quarters (more than 13 straight years). It has grown through a combination of organic expansions and acquisitions. It's currently nearing completion of the integrated sour gas processing, treating, and handling solution at its Libby Gas Complex to support growing customer demand. While it has a weaker financial position than others in the midstream sector, it's solid enough to provide the financial flexibility to continue investing in the expansion of its operations.

Interesting income options to consider MPLX, Hess Midstream, and Delek Logistics Partners don't get as much attention as their more gas-focused peers. As a result, they currently trade at lower valuations and higher yields. However, the trade-off is that they might not grow as fast as others in the pipeline sector. That aside, they're interesting options for investors seeking some under-the-radar high-yield dividend stocks that could provide lucrative income streams.

When a frothy stock market threatens your retirement income, four overlooked dividend giants offer yields that dwarf what most investors settle for, and one REIT has refused to cut its payout through every financial storm since 2009.

Investors love dividend stocks because they provide dependable passive income streams and an excellent opportunity for solid total return. Total return includes interest, capital gains, dividends, and distributions realized over time. In other words, the total return on an investment or portfolio consists of income and stock appreciation. At 24/7 Wall St., we have focused on dividend stocks for over 15 years because, despite the stock market’s ups and downs, many people need reliable passive income streams to supplement their income from employment or other sources such as Social Security and pensions.

While interest rates have risen over the past year, many quality ultra-high-yield names have traded higher, so yields have fallen below 7%. We screened our 24/7 Wall St. ultra-high-yield dividend stock database for quality stocks with long-term track records that Boomers and retirees with a higher risk tolerance can load into tax-sheltered accounts, with dividends pouring in while potentially generating solid total return. Four companies hit our screens that we have followed for years, and all make sense now for growth and income investors looking for an edge in a frothy, overbought stock market.

Why Do We Cover Ultra-High-Yield Dividend Stocks?

While these stocks aren’t for everyone, investors building strong passive income streams can do exceptionally well with some of these top companies in their portfolios. Paired with more conservative blue-chip dividend giants, investors can use a barbell approach to generate substantial passive income.

Ares Capital Ares Capital (NASDAQ: ARCC | ARCC Price Prediction) specializes in providing financing solutions for the middle market, and with seven analysts rating it a Buy and a 9.76% dividend yield, it’s a solid idea now. This high-yielding business development company (BDC) specializes in acquisitions, recapitalizations, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions for middle-market companies. It is widely considered one of the highest-quality BDCs due to its massive scale and defensive track record through multiple economic cycles. The company has a long history of regular payouts and supplemental distributions since its 2004 market entry.

It also makes growth capital and general refinancing. It prefers to invest in companies in basic and growth manufacturing, business services, consumer products, healthcare products and services, and information technology.

The fund will also consider investments in industries such as:

Restaurants Retail Oil and gas Technology It focuses on investments in the Northeast, Mid-Atlantic, Southeast, and Southwest regions from its New York office; the Midwest region from its Chicago office; and the Western region from its Los Angeles office.

The fund typically invests between $20 million and $200 million, with a maximum of $400 million, in companies with annual EBITDA between $10 million and $250 million. It makes debt investments between $10 million and $100 million.

The fund invests through:

Revolvers First-lien loans Warrants Unitranche structures Second-lien loans Mezzanine debt Private high yield Junior Capital Subordinated debt Non-control preferred and common equity The fund also selectively considers third-party-led senior and subordinated debt financings and opportunistically acquires stressed and discounted debt positions.

Ares Capital prefers to act as an agent and lead transactions in which it invests. The fund also seeks board representation in its portfolio companies.

MPLX MPLX (NYSE: MPLX) is a diversified, large-cap master limited partnership formed by Marathon Petroleum. This company is a top holding in the Alerian MLP Energy exchange-traded fund and pays a healthy 7.15% dividend. The company primarily transports crude oil and refined products, with terminals in the U.S. Midwest and Gulf Coast regions, and gathers and processes natural gas in the Northeast, following its 2015 acquisition of MarkWest Energy. MPLX owns pipeline and logistics infrastructure primarily backed by long-term, fee-based contracts with its parent company, Marathon Petroleum. Management is targeting a 12.5% distribution growth rate and maintains a highly comfortable 1.3x distribution coverage ratio.

The company’s assets include:

Network of crude oil and refined product pipelines Inland marine business Light-product terminals Storage caverns Refinery tanks Docks Loading racks and associated piping Crude and light-product marine terminals MPLX also owns crude oil and natural gas gathering systems, as well as pipelines, natural gas, and NGL processing and fractionation facilities in key U.S. supply basins.

Starwood Property Trust This off-the-radar global real estate giant boasts a 12.30% dividend yield and is led by real estate legend Barry Sternlicht. Starwood Property Trust (NYSE: STWD) operates as a real estate investment trust (REIT) in the United States, Europe, and Australia. It is the largest commercial mortgage REIT in the U.S. and has not lowered its dividend since its inception in 2009. It has navigated the current high-interest-rate real estate environment by shifting heavily into infrastructure lending and triple-net lease properties.

The company operates through four segments. The Commercial and Residential Lending segment:

Originates, acquires, finances, and manages commercial first mortgages Non-agency residential mortgages Subordinated mortgages Mezzanine loans Preferred Equity Commercial mortgage-backed securities (CMBS) Residential mortgage-backed securities The Infrastructure lending segment originates, acquires, finances, and manages infrastructure debt investments. The Property segment primarily develops and manages equity interests in stabilized commercial real estate properties, including multifamily and net-leased commercial properties, held for investment purposes.

The Investing and Servicing segment:

Manages and works out problem assets Acquires and contains unrated, investment-grade, and non-investment-grade rated CMBS comprising subordinated interests of securitization and re-securitization transactions Originates conduit loans to sell these loans into securitization transactions and acquire commercial real estate assets, including properties from CMBS trusts Universal This somewhat off-the-radar company is another of the world’s leading tobacco merchants, operating as a global tobacco leaf supplier rather than a cigarette manufacturer. Universal (NYSE: UVV) has reported strong demand, has been in business for almost 150 years, and pays a 7.36% dividend. Universal processes and supplies leaf tobacco and plant-based ingredients worldwide. It operates as a global leaf tobacco supplier, using a remarkably stable, slow-moving industry model to fund payouts. The company also has Dividend King status, with 50+ consecutive years of annual dividend increases.

The company operates through two segments:

Tobacco Operations Ingredients Operations It procures, finances, processes, packs, stores, and ships leaf tobacco for sale to manufacturers of consumer tobacco products. The company:

Contracts, purchases, processes, and sells flue-cured, burley, and oriental tobaccos that are primarily used in the manufacture of cigarettes Dark air-cured tobaccos are used to manufacture naturally wrapped cigars, cigarillos, and smokeless and pipe tobacco products Universal also provides value-added services, including:

Blending, chemical, and physical tobacco testing Service cutting for various manufacturers Manufacturing reconstituted leaf tobacco Just-in-time inventory management services Electronic nicotine delivery systems Customer smoke testing services Contact [email protected] for any questions or corrections.

With S&P 500 dividend yields at historic lows, finding a payout above 5% that Wall Street still trusts feels nearly impossible. Five stocks cleared every hurdle, and the one sitting at number one combines a near double-digit yield with a…

Income investors have had to work harder for yield in 2026 as tightening credit spreads and rising equity valuations compressed payouts across the S&P 500. That has pushed serious dividend hunters to a narrow shelf of names still throwing off cash well above the market, without triggering the usual red flags of a value trap. The screen for this list is straightforward: a current yield comfortably above 5%, a Wall Street consensus that still skews to Buy, a recent distribution increase, and coverage metrics that suggest the payout is durable.

Five names cleared every hurdle. We counted them down from #5 to #1.

#5. MPLX: Highest Yield in the Group, Most Divided Analyst Bench MPLX (NYSE:MPLX | MPLX Price Prediction) offers the fattest headline yield of the midstream trio at 7.15%, comfortably in ultra-high-yield territory above 6%. The MLP raised its Q2 2026 distribution to $1.0765 per common unit, a 12.5% year-over-year increase, and CEO Maryann Mannen reaffirmed that MPLX plans to grow the payout “at this rate again in 2026 and in 2027” while targeting 1.3x coverage. Leverage sits at 3.7x versus a 4.0x target. The rub: the analyst bench is split. The consensus breaks down to 2 Strong Buys, 5 Buys, 7 Holds and 1 Strong Sell, with an average target of $62.85 against a current price of $59.86. The risk is concentration: parent Marathon Petroleum still drives a large slice of throughput.

#4. British American Tobacco: Sterling Payer, Slower Growth British American Tobacco (NYSE:BTI) yields 6.09% and trades at a forward P/E of 10x. The FY2025 dividend of 245.04p per ordinary share was +2.0% versus 2024, and management is running a £1.3 billion share buyback in 2026. The bull case is the smokeless pivot: Velo revenue rose 48% at constant currency globally, and Modern Oral hit $1.165 billion, up 47.4%. Analysts lean bullish with 1 Strong Buy, 5 Buys and 1 Hold, target $70.43. Risk: combustibles still shrink, and FY2026 revenue guidance sits at the lower end of 3% to 5%.

#3. Enterprise Products Partners: Coverage King Enterprise Products Partners (NYSE:EPD) yields 5.61%, the lowest here, but its payout is arguably the safest in the group. Q2 2026 delivered record adjusted EBITDA of $2.83 billion and 1.9x distribution coverage. The quarterly distribution moved up to $0.56, from $0.55. Leverage is at the 3.0x target on a net basis, with a 4.7% weighted average cost of debt and a 17-year average maturity. The stock is up 26.94% year to date. Consensus: 3 Strong Buys, 8 Buys, 9 Holds, 1 Sell, target $41.37. Risk: commodity-linked marketing gains that flattered Q2 may not repeat.

#2. Energy Transfer: 19 Straight Raises and the Strongest Buy Skew Energy Transfer (NYSE:ET) yields 6.2% after lifting its Q2 2026 distribution to $0.34 per common unit, the 19th consecutive quarterly increase. Q2 EPS of $0.59 beat consensus by 60%, revenue jumped 78.4% year over year, and management raised FY2026 adjusted EBITDA guidance to $18.8 billion to $19.1 billion. The analyst tally is the most bullish in this group: 5 Strong Buys, 14 Buys, 2 Holds and zero Sells, with a target of $24.55. Shares are up 37.74% year to date. Note: reporting indicates ET is moving its listing to the Texas Stock Exchange from NYSE. Risk: leverage stays at 4 to 4.5 times EBITDA, higher than peers.

#1. Ares Capital: The Ultra-High-Yield Anchor Ares Capital (NASDAQ:ARCC) tops the list with an ultra-high yield of 9.76%, the highest in this basket and still backed by a clean Buy consensus of 4 Strong Buys, 7 Buys and 3 Holds, target $20.77. The Q3 2026 dividend of $0.48 per share extends a streak management describes as 68 consecutive quarters of stable or increasing regular dividends. Core EPS held at $0.47, and the BDC is carrying approximately $988 million, or $1.38 per share in spillover income as a payout cushion. Portfolio yield on debt at amortized cost is 10.3%, with 71% floating rate exposure. Risk: non-accruals ticked up to 2.4% at amortized cost from 1.8% at year-end 2025, and NAV per share slipped to $19.35 from $19.94.

Bringing the Screen Full Circle The opening premise was to find dividend payers still throwing off yields above 5% that Wall Street has not walked away from. Ares Capital earns the top spot because it pairs the largest yield in the group with a majority-Buy analyst book, nearly $1 billion of spillover income, and a 17-year dividend track record. Each of the five names cleared every screen, but ARCC combines the biggest income check with the strongest confirmation that the market still believes the payout will hold.

Contact [email protected] for any questions or corrections.

3.94K Followers

Analyst’s Disclosure: I/we have a beneficial long position in the shares of ET either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

16.19K Followers

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

A month has gone by since the last earnings report for MPLX LP (MPLX - Free Report) . Shares have lost about 0.5% in that time frame, outperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is MPLX LP due for a breakout? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent catalysts for MPLX LP before we dive into how investors and analysts have reacted as of late.

MPLX Q2 Earnings & Revenues Beat Estimates on Gas & NGL Volume GrowthMPLX reported second-quarter 2026 earnings of $1.06 per unit, up 2.9% from $1.03 a year ago. The bottom line surpassed the Zacks Consensus Estimate of $1.04 per unit by 1.9%.

Total revenues and other income increased 10.3% to $3.31 billion from $3 billion a year earlier. The top line beat the consensus estimate of $3.19 billion by 3.8%.

The strong quarterly results were driven by higher gathering and fractionation volumes. Adjusted EBITDA increased 5% to $1.78 billion.

MPLX's Income Rises Despite Higher CostsNet income attributable to MPLX increased to $1.08 billion from $1.05 billion in the year-ago quarter. Income from operations improved 6.6% to $1.38 billion, driven by higher contributions from both operating segments.

Total costs and expenses increased 13.1% to $1.93 billion from $1.71 billion recorded in the prior-year quarter. Operating expenses, including purchased product costs, increased to $1.01 billion from $821 million, while depreciation and amortization rose to $365 million from $324 million. Net interest and other financial costs increased 23.5% to $289 million.

MPLX's Logistics Business Delivers GrowthCrude Oil and Products Logistics segment adjusted EBITDA increased 2% to $1.16 billion. Higher rates across the business and increased butane blending more than offset lower crude pipeline throughput and higher operating expenses.

Total pipeline throughput declined 4% to 5.88 million barrels per day (MMBbl/d). Crude oil pipeline volumes fell 5% to 3.83 MMBbl/d from 4.01 MMBbl/d, while product pipeline volumes decreased 2% to $2.05 MMBbl/d from $2.09 MMBbl/d in the prior-year quarter.

Terminal throughput increased 2% to 3.26 MMBbl/d, and the average pipeline tariff rate edged up 1% to $1.07 per barrel.

MPLX's Gas & NGL Services Operations Gain MomentumNatural Gas and NGL Services segment adjusted EBITDA advanced 11% to $614 million. The increase reflected higher volumes, contributions from equity affiliates and acquisitions. These benefits were partly offset by the 2025 divestiture of non-core Rockies gathering and processing assets.

Gathering throughput rose 5% to 6.86 billion cubic feet per day (Bcf/d), while fractionation volumes increased 7% to 680,000 barrels per day (Bbl/d). Natural gas processed declined 2% to 9.59 Bcf/d. Excluding divested assets, gathering and processing volumes increased 15% and 5%, respectively.

MPLX’s Cash Flow Funds Capital ReturnsNet cash provided by operating activities totaled $1.70 billion compared with $1.74 billion a year ago. Distributable cash flow increased to $1.45 billion from $1.42 billion, while adjusted free cash flow totaled $668 million.

MPLX declared a distribution of $1.0765 per unit, up from 95.65 cents a year earlier, resulting in 1.3X coverage. The partnership returned more than $1.1 billion to unitholders, including $50 million through unit repurchases. Management expects distribution increases of 12.5% in 2026 and 2027.

MPLX Maintains Balance SheetThe partnership ended June with $1.03 billion in cash, $2.5 billion available under its revolving credit facility and $1.5 billion available through its intercompany loan agreement with Marathon Petroleum. Total debt was $25.64 billion, while leverage remained at 3.7X.

MPLX's Projects Support Second-Half GrowthMPLX placed the 200-million-cubic-feet-per-day (MMcf/d) Secretariat I processing plant into service in April. The partnership exited the quarter with 86% utilization across its Delaware Basin processing system. Marcellus processing utilization reached 96%, supporting record volumes across the system.

Harmon Creek III began operations in August, adding 300 MMcf/d of processing capacity and 40,000 Bbl/d of de-ethanization capacity. The BANGL pipeline expansion to 300,000 Bbl/d, Blackcomb pipeline and Titan sour gas treating expansion are expected to enter service in the fourth quarter.

MPLX's Capital Spending Outlook IncreasesThe partnership raised its 2026 capital spending outlook by $500 million to $2.9 billion. The increase primarily reflects accelerated work on its Gulf Coast fractionation project, pulling forward spending previously planned for early 2027.

More than 90% of organic growth capital is directed toward natural gas and natural gas liquids infrastructure. Management expects the project sequence to drive stronger adjusted EBITDA in the third quarter than the second quarter, followed by sequential growth in the fourth quarter. MPLX continues to target mid-single-digit adjusted EBITDA growth for 2026.

How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a flat trend in estimates revision.

VGM ScoresCurrently, MPLX LP has a subpar Growth Score of D, however its Momentum Score is doing a lot better with a B. Charting a somewhat similar path, the stock has a score of C on the value side, putting it in the middle 20% for value investors.

Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook MPLX LP has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry PlayerMPLX LP belongs to the Zacks Oil and Gas - Production and Pipelines industry. Another stock from the same industry, Pembina Pipeline (PBA - Free Report) , has gained 3.1% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026.

Pembina Pipeline reported revenues of $1.55 billion in the last reported quarter, representing a year-over-year change of +20%. EPS of $0.48 for the same period compares with $0.47 a year ago.

Pembina Pipeline is expected to post earnings of $0.46 per share for the current quarter, representing a year-over-year change of +48.4%. Over the last 30 days, the Zacks Consensus Estimate has changed -7.1%.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Pembina Pipeline. Also, the stock has a VGM Score of F.

AMLP looks like an easy button for pipeline income, but a structural quirk buried in its fund wrapper quietly erodes your returns before a single dollar reaches your account. Three direct MLP holdings fix the problem and pay you more…

If you hold the Alerian MLP ETF (NYSEARCA:AMLP) for its fat energy income, you are hardly alone. AMLP has become the default one-ticker way to own a basket of pipeline master limited partnerships without the K-1 tax paperwork. However there are some drawbacks to this holding, AMLP holds more than 25% MLPs and it is organized as a C-corporation, which means the fund itself pays corporate tax on gains and income before anything reaches you. Layer a management fee on top, and this ETF quietly bleeds return every year while underlying MLPs go up. Three direct holdings can do the same job with more distribution growth and no fund-level tax drag.

What the Wrapper Costs You AMLP’s C-corp structure creates a deferred tax liability that reduces net asset value as the underlying MLPs appreciate. That is why the fund has historically trailed the Alerian MLP Infrastructure Index it tracks. You also pay a fund expense ratio on top of that tax drag. In exchange, you get a 1099 instead of a K-1 and diversification across roughly fifteen midstream names. But if your goal is income that compounds, the tax layer is a structural headwind that direct ownership sidesteps entirely.

Enterprise Products Partners: Coverage King of Midstream Enterprise Products Partners (NYSE:EPD | EPD Price Prediction) is the blue chip of the group. The Q2 2026 quarterly distribution was $0.56 per unit, an annualized $2.24, up 2.8% year over year. Dividend safety is exceptional: operational distributable cash flow hit a record $2.3 billion in the quarter, covering the payout 1.9 times. Adjusted EBITDA reached a record $2.83 billion, and management retained $1.1 billion for growth and buybacks after paying distributions. CEO Jim Teague noted “record earnings and cash flow in the second quarter of 2026” alongside $6.5 billion of organic projects under construction. Units are up 27.33% year to date. The bull case is straightforward: fee-based cash flows, 1.9x coverage, and a fortress balance sheet. Distribution growth is modest, so total return depends on volumes and project execution.

MPLX: Growth Compounder With 12.5% Distribution Hikes MPLX (NYSE:MPLX) is the aggressive income play. The Q2 2026 distribution was $1.0765 per unit, and management has publicly committed to 12.5% distribution growth in both 2026 and 2027, targeting a 1.3 coverage ratio. That growth cadence is the largest gap versus AMLP’s diluted, tax-drag-reduced distribution. Leverage sits at 3.7x, below the 4.0x target. Growth capex was raised by $500 million to $2.9 billion, with over 90% directed at Permian and Marcellus NGL infrastructure at mid-teens returns. CEO Maryann Mannen guided to “mid-single digit adjusted EBITDA growth” in the second half. Units are up 17.56% year to date. Marathon Petroleum controls roughly 647 million of the 1,014 million outstanding units and is MPLX’s largest customer, creating concentration risk.

Energy Transfer: Scale Play With 140,000 Miles of Pipeline Energy Transfer (NYSE:ET) rounds out this trio for investors who want maximum scale and geographic reach. The Q2 2026 distribution of $0.34 per unit (annualized $1.36) marked the nineteenth consecutive quarterly increase. Adjusted EBITDA jumped 31% to $5.07 billion, and management raised 2026 EBITDA guidance to $18.8 billion to $19.1 billion. Distribution policy targets 3% to 5% annual growth with leverage held at 4 to 4.5 times EBITDA. Approximately 140,000 miles of pipeline across 44 states gives it optionality on data-center gas demand and LNG exports. Long-term debt closed 2025 at $68.3 billion, up from $59.8 billion, and interest expense keeps climbing.

Real Tradeoffs to Weigh Direct MLP ownership requires three K-1s at tax time instead of a 1099. Holding MLPs inside an IRA can trigger unrelated business taxable income (UBTI) once it exceeds $1,000, so these belong in a taxable account. Three names is more concentrated than AMLP’s basket, so you trade diversification for growth and tax efficiency. If you already own AMLP in a taxable account at a gain, switching triggers a capital-gains event that should be weighed against ongoing structural drag.

Where This Leaves You If your AMLP position sits in a taxable account and you bought it primarily for income, a partial rotation into EPD, MPLX, and ET captures the same midstream exposure with better distribution growth and no fund-level tax layer. If you own it inside an IRA specifically to sidestep K-1s and UBTI, the wrapper is doing exactly what you hired it for and the swap does not fit. Frame it as a fit question, and the answer usually writes itself (if you are sizing what a mid six-figure balance can actually throw off in monthly income from names like these, we sketched the full math in a free guide: From $250K to $1,500 a Month).

Contact [email protected] for any questions or corrections.

Midstream energy is quietly printing some of the fattest, most reliable income checks in the market right now, and three pipeline giants are leading the charge with raised payouts, record cash flows, and growth backlogs that stretch years into the…

Midstream energy is quietly having a moment. Natural gas volumes tied to LNG exports, data center power demand, and Permian growth are lifting throughput across the biggest US pipelines, and the three names below are turning that traffic into some of the most reliable checks in the income market. All three trade in positive territory year to date, all three raised their payouts in 2026, and all three back their distributions with fee-based cash flow rather than commodity swings (for readers thinking about how far a dividend book like this actually goes, we sketched a full plan for turning $250K into $1,500 a month in a free report here). Here is how the September income lineup stacks up.

Enterprise Products Partners (EPD) Enterprise Products Partners (NYSE:EPD | EPD Price Prediction) is the anchor position in most midstream income portfolios, and Q2 explains why. The MLP (which issues a K-1 rather than a 1099) reported record adjusted EBITDA of $2.8 billion, a 17% increase over the second quarter of last year, alongside adjusted cash flow from operations of $2.5 billion. Operational DCF hit $2.3 billion with 1.9x distribution coverage, giving management more than enough room to keep raising the payout.

The board declared a 56 cent per unit distribution for Q2 2026, a 2.8% increase over the same quarter in 2025, putting the annualized distribution at $2.24 against a recent price of $39.14. Units are up 27.72% year to date and 31.54% over one year. Volumes tell the growth story: 14.7 million barrels a day of oil equivalent moved across the system, with total pipeline volumes up 8% and marine terminals up 33% year over year.

CEO Jim Teague put it simply: "Enterprise reported strong volumes, earnings, and cash flow for the second quarter." With the LPG export terminal expansion on the Houston Ship Channel expected in service by the end of this year and two new 300 MMcf/d Permian processing plants sanctioned, EBITDA growth into 2027 looks well spoken for.

Risk: the K-1 tax form is a headache for some investors, and $33.5 billion in debt principal means rate sensitivity is real. Next earnings report lands October 29, 2026.

MPLX for Best-in-Class Distribution Growth If EPD is the ballast, MPLX (NYSE:MPLX), also an MLP that issues a K-1, is the growth engine. The Marathon-affiliated partnership has raised its quarterly distribution to $1.0765, annualizing at $4.306 against a recent price of $59.32. CEO Maryann Mannen was explicit on the Q2 call: "We anticipate growing our distribution at this rate again in 2026 and in 2027." That is 12.5% annual distribution growth, easily the highest in the peer group.

The distribution is backed by $1.8 billion of adjusted EBITDA in Q2 and a targeted 1.3x coverage ratio for both 2026 and 2027. MPLX is investing over 90% of its organic growth capital in natural gas and NGL infrastructure, and raised its 2026 capex outlook by $500 million to $2.9 billion to pull the Gulf Coast fractionation project forward. Marcellus processing utilization ran at 96%, and gathering volumes rose 15% year-over-year. Units are up 17.7% year to date.

Risk: Q2 EPS of $1.06 came in a hair light of consensus, and heavy dependence on parent MPC is a structural concentration. Next earnings report is November 3, 2026.

Kinder Morgan (KMI) for C-Corp Simplicity and a Gas Backlog Kinder Morgan (NYSE:KMI) is the choice for investors who prefer a 1099 over a K-1. The C-corp structure and investment-grade balance sheet make it the cleanest way to own the natural gas theme.

Q2 delivered a big beat: adjusted EPS of 37 cents, up 32% from the prior year, on adjusted EBITDA up 12%. Management raised 2026 guidance to at least 5% above the original EBITDA budget and at least 12% above the original adjusted EPS budget. The board declared a 29.75 cent quarterly dividend, $1.19 annualized and a 2% increase over 2025, against a recent price of $32.02. Shares are up 19.83% year to date.

The forward story is the $9.6 billion project backlog, roughly 92% natural gas and heavily tied to power generation, LDC demand, and LNG exports. Management is developing projects to serve more than 10 BCF a day of natural gas demand from power generation and approximately 3 BCF a day from LNG, exactly the demand vectors the EIA is flagging as fastest-growing. Leverage ended Q2 at 3.6 times, well below the 4.0 times target. Rich Kinder said KMI can fund the backlog "almost completely with our internally generated cash flow while still continuing to pay a solid and growing dividend."

Risk: dividend growth of 2% is well behind MPLX and modestly behind EPD, so the appeal is stability and C-corp tax treatment rather than payout acceleration. Permitting and CO2 segment volatility are the operational overhangs.

Contact [email protected] for any questions or corrections.

Most of the time, when something seems too good to be true, it is. This isn't one of those times. But there's still a "but."

At the 24% federal marginal bracket, roughly one of every four dollars of ordinary dividend income earned in a taxable brokerage account is handed to the IRS. For income investors leaning on business development companies, midstream MLPs, and other yield-first structures that pay non-qualified distributions, that friction compounds every year the position is held outside a Roth.

The four names below sit squarely in that trade-off. Two currently yield well above 7%, two sit in the mid- to high-6% range, and every one of them changes character once wrapped inside a Roth.

Four High-Yield Names Built for Roth Placement MPLX LP (NYSE:MPLX | MPLX Price Prediction) is a midstream MLP currently yielding 7.34% on a $4.306 annualized distribution. Management reiterated on the Q2 2026 call that it expects to grow the distribution 12.5% again in 2026 and 2027, backed by a targeted 1.3 coverage ratio. MLP distributions flow through as return of capital and ordinary income rather than qualified dividends, which is exactly the profile that benefits most from Roth shelter.

Enterprise Products Partners (NYSE:EPD) is a fellow midstream MLP yielding 5.78%, with a Q2 2026 declared distribution of $0.56 per unit and record EBITDA of $2.8 billion. Same K-1, same ordinary-income treatment, same case for Roth placement.

Ares Capital (NASDAQ:ARCC) is the largest publicly traded BDC, yielding 9.7% on a $0.48 quarterly dividend. BDC distributions are taxed as ordinary income at the investor's marginal rate, which makes ARCC the highest-priority Roth candidate in this group. Management noted a 17-consecutive-year track record of stable or growing regular dividends and $988 million of spillover income supporting future payouts.

Altria Group (NYSE:MO) yields 6.42% and pays qualified dividends rather than ordinary ones. The bracket delta is smaller than a BDC or MLP, but a $4.24 annualized payout and a multi-decade growth record still generate meaningful annual tax friction outside a Roth.

How Roth Placement Reshapes the 24% Bracket Income Stream Consider a $500,000 portfolio equally split across these four names. The blended yield sits in the mid-7% range, driven higher by ARCC and MPLX and moderated by EPD and MO. Inside a Roth, every dollar of that distribution stays with the investor. Inside a taxable account, roughly a quarter of the ordinary-income portion (MPLX, EPD, ARCC) leaves each year at the 24% marginal rate, and Altria's qualified dividends face a separate long-term capital-gains schedule.

[withdrawal-rate portfolio_value=500000 withdrawal_rate=7.3 rate=7 time=10]

The calculator above shows the gross income stream this blended yield produces on a $500,000 book. The Roth version keeps that number intact. The taxable version loses the marginal-rate slice every single year, permanently.

Bracket Multiplier: Same Portfolio, Different Delta The Roth advantage scales directly with marginal bracket. Using the 2026 federal brackets from the IRS:

22% bracket: 22 cents of every ordinary-dividend dollar disappears in taxable, zero in Roth. 24% bracket: 24 cents lost per dollar of MPLX, EPD, and ARCC income in taxable. 32% bracket: nearly a third of every distribution siphoned off in taxable. 37% bracket: more than a third gone, on income that was already earned. The higher the bracket, the more urgent the placement decision, and the wider the Roth wrapper’s permanent income moat becomes. The quiet stretch between a last paycheck and the first RMD is often the cheapest time to move these positions into a Roth, which is the whole subject of our free Roth window guide.

Compounding Loss Most Investors Never Track The tax delta compounds annually. It is a recurring drag on capital that could otherwise be reinvested at the same high yields. Ten years of foregone reinvestment on a 24%-bracket taxable BDC position compounds into a material drag on total return. On a 20-year horizon at MPLX's 12.5% distribution growth trajectory and ARCC's 68 consecutive quarters of stable-or-rising payouts, the untaxed compounding inside a Roth can eclipse the entire initial position value.

Three Actions to Run Before Year-End If any BDC or MLP sits in a taxable account, price out the annual tax cost at your bracket before filing. That number is the permanent recurring cost of leaving the position where it is. Run the Roth conversion math specifically on ARCC and MPLX. Ordinary-income yields near 9.7% and 7.34% often justify conversion costs faster than qualified-dividend names. Model a phased conversion that prioritizes ordinary-dividend payers first (ARCC, MPLX, EPD) and qualified-dividend payers like MO last, since the bracket delta on qualified dividends is materially smaller. Contact [email protected] for any questions or corrections.

, /PRNewswire/ -- MPLX LP (NYSE: MPLX) today announced that the company's 2025 Schedule K-3 investor tax packages reflecting items of international tax relevance are now available on its website, https://www.mplx.com. Investors may select the Investor Data link under the Investors tab or use the following link: https://www.taxpackagesupport.com/mplxlp. 

A limited number of investors (primarily foreign unitholders, unitholders computing a foreign tax credit on their tax return and certain corporate and/or partnership unitholders) may need the detailed information disclosed on the Schedule K-3 for their specific reporting requirements. To the extent the Schedule K-3 is applicable to unitholders' tax return filing needs, MPLX encourages them to review the information contained on the Schedule K-3 and refer to the appropriate federal laws and guidance or consult with their tax advisor.

MPLX does not plan to mail K-3 tax packages to investors. For additional information or to receive an electronic copy of the Schedule K-3 via email, unitholders may call 1-800-232-0011 (toll free).

About MPLX LP

MPLX is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets and provides fuels distribution services. MPLX's assets include a network of crude oil and refined product pipelines; an inland marine business; light-product terminals; storage caverns; refinery tanks, docks, loading racks, and associated piping; and crude and light-product marine terminals. The company also owns crude oil and natural gas gathering systems and pipelines as well as natural gas and NGL processing and fractionation facilities in key U.S. supply basins. More information is available at www.mplx.com.

Investor Relations Contact: (419) 421-2071
Brian Worthington, Vice President, Investor Relations
Isaac Feeney, Director, Investor Relations
Evan Heminger, Analyst, Investor Relations

Media Contact: (419) 421-3577
Jamal Kheiry, Communications Manager

SOURCE MPLX LP

Key Takeaways MPLX raised 2026 growth capital spending to $2.9 billion, with over 90% targeting gas and NGL infrastructure.New projects should strengthen second-half results and support mid-single-digit adjusted EBITDA growth.MPLX's 3.7X leverage and premium valuation leave less room for project delays or slower cash-flow growth. MPLX LP (MPLX - Free Report) is expanding its natural gas and natural gas liquids (NGLs) infrastructure while continuing to generate durable cash flow and increase distributions. The growth runway is visible, but so are the demands created by a larger capital program.

For investors, the trade-off is increasingly about execution. Higher leverage, rising financing costs and a valuation near the top of MPLX's historical range leave less room for project delays or slower cash-flow growth.

MPLX Growth Spending Raises the StakesMPLX raised its 2026 growth capital outlook by $500 million to $2.9 billion, mainly because it accelerated spending on Gulf Coast fractionation. More than 90% of organic growth capital is directed toward natural gas and NGL infrastructure.

The spending reflects a broader midstream push to add capacity around rising gas demand. Kinder Morgan, Inc. (KMI - Free Report) has a $10.1 billion committed growth project backlog, while The Williams Companies, Inc. (WMB - Free Report) is advancing projects such as the Northeast Supply Enhancement expansion of its Transco system. For MPLX, the larger program raises the importance of keeping construction schedules and returns on track.

MPLX Balances Growth Ambitions With Capital DisciplineMPLX’s 2026 strategy centers on mid-single-digit growth, supported by expanding integrated value chains, a larger sour gas treating platform and its substantial Marcellus footprint. The partnership also remains committed to capital returns through distribution growth and buybacks, reinforcing the durability of its cash flows. However, sustaining these returns while funding a larger project slate keeps capital discipline and financial flexibility in focus.

Image Source: Zacks Investment Research

MPLX Projects Could Lift Cash FlowSecretariat I entered service in April, while Harmon Creek III began operations in August. The BANGL pipeline expansion, Blackcomb pipeline and Titan sour gas treating expansion are expected to enter service in the fourth quarter, adding processing, takeaway and treating capacity.

These additions are expected to support a stronger second half. Management continues to target mid-single-digit adjusted EBITDA growth in 2026, with the sequencing and ramp-up of projects positioning MPLX for stronger adjusted EBITDA growth in 2027.

MPLX Leverage Narrows Financial FlexibilityMPLX ended the second quarter with about $25.64 billion of total debt and a leverage ratio of 3.7X, up from 3.1X a year earlier. Net interest and other financial costs increased to $289 million from $234 million.

Cash generation remains meaningful, with second-quarter distributable cash flow of $1.45 billion. Still, distribution coverage was 1.3X versus 1.5X a year earlier, so timely project contributions matter more as capital spending and financing costs rise.

MPLX Earnings Outlook Points to a 2027 RecoveryThe Zacks Consensus Estimate calls for MPLX’s 2026 earnings to decline 11.4% year over year to $4.27 per unit, reflecting near-term earnings pressure as capital spending remains elevated. Third-quarter earnings are projected at $1.13 per unit, down 25.7% from the year-ago period, while the fourth-quarter estimate of $1.16 implies a modest 0.9% decline. For 2027, however, earnings are expected to rebound 10.2% to $4.71 per unit, suggesting that cash-flow contributions from new projects could become more visible as the investment cycle progresses.

Image Source: Zacks Investment Research

MPLX Valuation Leaves Less Room for ErrorMPLX trades at 13.4X forward 12-month earnings, close to its five-year high of 13.4X and above its five-year median of 10.1X. That premium to its own history increases the importance of delivering the expected growth from new infrastructure.

The valuation is supported by expanding gas and NGL operations and a 7.3% dividend yield, but it also reduces the cushion if project ramps disappoint or higher financing requirements pressure financial flexibility.

MPLX Signals Favor Patience Over ChasingThe balance of visible project growth and higher capital demands supports a measured view on MPLX. The partnership has multiple assets moving into service and continues to target distribution growth, but leverage, coverage and valuation make execution increasingly important.

MPLX currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Its Momentum Score of A is favorable, but a Value Score of C, Growth Score of D and VGM Score of D show a less supportive mix across other investment styles. The combination argues for patience rather than chasing the units after their recent gains.

MPLX (MPLX) remains a Strong Buy, with reliable income and visible growth supported by robust project execution and strong demand. Distribution coverage remains healthy at ~1.3x, with a 12.5% distribution growth commitment now extended through 2026 and 2027. Recent distributable cash flow softness is attributed to timing and financing of growth projects, not structural weakness, with leverage at a manageable ~3.7x.

Key Takeaways MPLX's Q2 earnings beat estimates as higher gathering and fractionation volumes lifted adjusted EBITDA by 5%.MPLX's Natural Gas and NGL Services EBITDA rose 11% as gathering and fractionation volumes increased.MPLX raised its 2026 capital spending by $500 million to $2.9B to accelerate Gulf Coast fractionation work. MPLX LP (MPLX - Free Report) reported second-quarter 2026 earnings of $1.06 per unit, up 2.9% from $1.03 a year ago. The bottom line surpassed the Zacks Consensus Estimate of $1.04 per unit by 1.9%.

Total revenues and other income increased 10.3% to $3.31 billion from $3 billion a year earlier. The top line beat the consensus estimate of $3.19 billion by 3.8%.

The strong quarterly results were driven by higher gathering and fractionation volumes. Adjusted EBITDA increased 5% to $1.78 billion.

MPLX's Income Rises Despite Higher CostsNet income attributable to MPLX increased to $1.08 billion from $1.05 billion in the year-ago quarter. Income from operations improved 6.6% to $1.38 billion, driven by higher contributions from both operating segments.

Total costs and expenses increased 13.1% to $1.93 billion from $1.71 billion recorded in the prior-year quarter. Operating expenses, including purchased product costs, increased to $1.01 billion from $821 million, while depreciation and amortization rose to $365 million from $324 million. Net interest and other financial costs increased 23.5% to $289 million.

MPLX's Logistics Business Delivers GrowthCrude Oil and Products Logistics segment adjusted EBITDA increased 2% to $1.16 billion. Higher rates across the business and increased butane blending more than offset lower crude pipeline throughput and higher operating expenses.

Total pipeline throughput declined 4% to 5.88 million barrels per day (MMBbl/d). Crude oil pipeline volumes fell 5% to 3.83 MMBbl/d from 4.01 MMBbl/d, while product pipeline volumes decreased 2% to $2.05 MMBbl/d from $2.09 MMBbl/d in the prior-year quarter.

Terminal throughput increased 2% to 3.26 MMBbl/d, and the average pipeline tariff rate edged up 1% to $1.07 per barrel.

MPLX's Gas & NGL Services Operations Gain MomentumNatural Gas and NGL Services segment adjusted EBITDA advanced 11% to $614 million. The increase reflected higher volumes, contributions from equity affiliates and acquisitions. These benefits were partly offset by the 2025 divestiture of non-core Rockies gathering and processing assets.

Gathering throughput rose 5% to 6.86 billion cubic feet per day (Bcf/d), while fractionation volumes increased 7% to 680,000 barrels per day (Bbl/d). Natural gas processed declined 2% to 9.59 Bcf/d. Excluding divested assets, gathering and processing volumes increased 15% and 5%, respectively.

MPLX’s Cash Flow Funds Capital ReturnsNet cash provided by operating activities totaled $1.70 billion compared with $1.74 billion a year ago. Distributable cash flow increased to $1.45 billion from $1.42 billion, while adjusted free cash flow totaled $668 million.

MPLX declared a distribution of $1.0765 per unit, up from 95.65 cents a year earlier, resulting in 1.3X coverage. The partnership returned more than $1.1 billion to unitholders, including $50 million through unit repurchases. Management expects distribution increases of 12.5% in 2026 and 2027.

MPLX Maintains Balance SheetThe partnership ended June with $1.03 billion in cash, $2.5 billion available under its revolving credit facility and $1.5 billion available through its intercompany loan agreement with Marathon Petroleum. Total debt was $25.64 billion, while leverage remained at 3.7X.

MPLX's Projects Support Second-Half GrowthMPLX placed the 200-million-cubic-feet-per-day (MMcf/d) Secretariat I processing plant into service in April. The partnership exited the quarter with 86% utilization across its Delaware Basin processing system. Marcellus processing utilization reached 96%, supporting record volumes across the system.

Harmon Creek III began operations in August, adding 300 MMcf/d of processing capacity and 40,000 Bbl/d of de-ethanization capacity. The BANGL pipeline expansion to 300,000 Bbl/d, Blackcomb pipeline and Titan sour gas treating expansion are expected to enter service in the fourth quarter.

MPLX's Capital Spending Outlook IncreasesThe partnership raised its 2026 capital spending outlook by $500 million to $2.9 billion. The increase primarily reflects accelerated work on its Gulf Coast fractionation project, pulling forward spending previously planned for early 2027.

More than 90% of organic growth capital is directed toward natural gas and natural gas liquids infrastructure. Management expects the project sequence to drive stronger adjusted EBITDA in the third quarter than the second quarter, followed by sequential growth in the fourth quarter. MPLX continues to target mid-single-digit adjusted EBITDA growth for 2026.

MPLX’s Zacks Rank & Key PicksMPLX currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the energy sector are PBF Energy Inc. (PBF - Free Report) , HF Sinclair Corporation (DINO - Free Report) and Cactus, Inc. (WHD - Free Report) . PBF sports a Zacks Rank #1 (Strong Buy), while DINO and WHD carry a Zacks Rank #2 (Buy) each, at present. You can see the complete list of today’s Zacks Rank #1 stocks here.

PBF reported second-quarter 2026 adjusted earnings of $6.22 per share, surpassing the Zacks Consensus Estimate of $4.05 per share.

As of June 30, 2026, PBF had total debt of $1.75 billion, and cash and cash equivalents of $894.1 million.

HF Sinclair reported second-quarter 2026 adjusted earnings of $5.31 per share, topping the Zacks Consensus Estimate of $4.39 per share.

As of June 30, 2026, DINO had total debt of $2.77 billion, and cash and cash equivalents of $2.26 billion.

Cactus reported second-quarter 2026 adjusted earnings of 93 cents per share, surpassing the Zacks Consensus Estimate of 71 cents per share.