MPLX offers 7.3% yield with strong growth prospects from Permian Basin expansions and solid Q2 outlook.

MPLX provides a 7.3% distribution yield supported by robust fee-based cash flows and expansion projects in the Permian Basin. The company expects strong Q2 results driven by volume recovery, no repeat of Q1 mark-to-market losses, and ongoing network growth. Management aims for 12.5% distribution growth over two years with coverage above 1.3x, targeting 7–8% long-term distribution growth through 2030. Units are considered attractive compared to peers, with a potential price target of $70 in 12 months and a 14% long-term return for income-focused investors.