MPLX LP
boothcheck covers MPLX LP (MPLX) but does not put one priced-in number on it: here the defensible answer is the evidence rather than a point estimate. boothcheck publishes no house fair value, target price, or buy/sell rating. Narrative composed June 27, 2026.
At $56.83 most of the standard valuation methods sit above the price, not below it. The cash return is the anchor. MPLX raised its quarterly distribution 12.5% to about $4.31 annualized, a forward yield near 7.71%, with distribution coverage of 1.3x. This is a fee-based midstream system being valued like a slow-melting bond. The two cautions are the parent relationship and the leverage. A large share of volume runs through Marathon Petroleum, and net debt of about $26 billion sits at roughly 4
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636 institutional managers reported holding MPLX in 13F filings for the quarter ended 2026-03-31. Together they hold about 20% of the company; the top 10 hold 12%. 74 opened new positions that quarter. Held by Invesco, Blackstone, Goldman Sachs, among others. On the short side, 6.6M shares were sold short as of the 2026-06-15 count, about 0.7% of shares outstanding (4.4 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
Open-market insider buys at MPLX over the trailing three years: 2025: 1 buy totaling $211k. 16 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
MPLX's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-05-03 | +0.2% | -2.2% |
| 2023-08-02 | -0.5% | -0.8% |
| 2023-11-01 | +0.3% | +2.4% |
| 2024-05-01 | -0.9% | +3.1% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
MPLX's latest 8-K filings: 2026-05-05 (items 2.02, 9.01); 2026-04-13 (items 1.01, 1.02, 2.02, 2.03, 9.01); 2026-03-18 (items 5.02); 2026-02-12 (items 8.01, 9.01); 2026-02-03 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.