MPLX LP (MPLX) Aim For Durable Distribution Growth

MPLX LP (NYSE:MPLX) is one of the 13 best oil and gas storage stocks to buy according to hedge funds.

On February 10, Spiro Dounis from Citi maintained his Neutral rating on MPLX LP (NYSE:MPLX). The analyst also increased the price target on the stock from $54 to $55.

Dounis’ upward revision is underpinned by a growing backlog that cleared street expectations following the company’s fourth-quarter results, prompting an incremental increase to the firm’s projections.

On February 3, MPLX LP (NYSE:MPLX) reported fourth-quarter revenues of $3.3 billion, outperforming consensus estimates of $3.2 billion. Chairman, President, and Chief Executive Officer, Maryann Mannen, stated:

“In 2025, we invested to grow our natural gas and NGL value chains and returned more than $4B to unitholders. In 2026, we are executing growth anchored in the Permian and Marcellus basins, advancing our strategic initiatives and commitment to durable distribution growth. These opportunities will meet growing demand for natural gas and NGLs, enhance our value chains, and support mid-single digit adjusted EBITDA growth.”

MPLX LP (NYSE:MPLX) operates midstream energy infrastructure and logistics assets. The company is engaged in gathering, processing, storing, marketing, and transporting natural gas, natural gas liquids, crude oil, and refined products. It also distributes hydrocarbon-based products, as well as renewables, residue gas, and condensate.

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