With an annual dividend yield of 7.75%, MPLX LP (NYSE:MPLX) is included among the 10 Best Dividend Stocks with 5%+ Yields and Growing Cash Flows.

On May 14, Barclays analyst Theresa Chen raised the firm’s price recommendation on MPLX LP (NYSE:MPLX) to $59 from $58. It reiterated an Overweight rating on the shares. The firm said it sees an “increasingly constructive backdrop” for U.S. crude production.

During the Q1 2026 earnings call, MPLX reported more than $1.7 billion in adjusted EBITDA. President, CEO, and Chairman Maryann Mannen said the results supported the return of more than $1.1 billion to unitholders. She added that 2026 would largely focus on execution, with several projects expected to move from construction into operations and begin contributing to EBITDA.

Mannen said the company’s expected growth in 2026 is tied to the timing of major projects entering service. She noted that Secretariat I began operations in April, Harmon Creek III is expected to come online in the third quarter, and the Titan gas treating complex is projected to exceed 400 million cubic feet per day of treating capacity in the fourth quarter. According to Mannen, these projects should help drive stronger year-over-year growth in 2026 compared with 2025.

She also highlighted progress across the company’s midstream and downstream infrastructure projects. Mannen said the Blackcomb natural gas pipeline remains on schedule and is expected to enter service in the fourth quarter. The BANGL pipeline expansion to 300,000 barrels per day is also projected to begin operations during the fourth quarter.

MPLX LP (NYSE:MPLX) is a diversified large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets while also providing fuels distribution services. Its operations are organized into two segments: Crude Oil and Products Logistics, and Natural Gas and NGL Services.

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