MPLX (MPLX) vs Plains All American Pipeline L.P. (PAA)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
Plains All American Pipeline L.P. (PAA) has outperformed MPLX (MPLX) over the past year, gaining 44.3% versus a gain of 17.7%. Over five years, PAA leads with a +116.8% price change compared with +85.6% for MPLX. MPLX is the larger company by market cap ($57.84 billion vs $17.00 billion), about 3.4 times the size.
On valuation, MPLX trades at a lower forward P/E (11.8x vs 12.6x for Plains All American Pipeline L.P.). MPLX offers the higher dividend yield (7.55% vs 6.78%).
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | MPLX | PAA |
|---|---|---|
| Share price | $57.05 | $24.09 |
| Market cap | $57.84B | $17.00B |
| 1-day change | -1.25% | +0.12% |
| YTD return | +8.24% | +33.96% |
| 1-year return | +17.66% | +44.33% |
| 5-year return | +85.64% | +116.76% |
| P/E ratio (TTM) | 12.43 | 20.77 |
| Forward P/E | 11.84 | 12.59 |
| EPS (TTM) | $4.59 | $1.16 |
| Dividend yield | 7.55% | 6.78% |
| Annual dividend | $4.31 | $1.63 |
| 52-week high | $60.95 | $26.39 |
| 52-week low | $47.80 | $15.69 |
| Distance from 52-week high | -6.40% | -8.72% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +10.17% | +8.47% |
| Average volume | 1.41M | 2.53M |
| Shares outstanding | 1.01B | 705.57M |
| Employees | — | 3,900 |
| Sector | Energy | Energy |
| Industry | Oil & Gas Midstream | Oil & Gas Midstream |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- MPLX is about 3.4 times larger than Plains All American Pipeline L.P. by market value ($57.84B vs $17.00B).
- PAA has outperformed MPLX by 26.7 percentage points over the past year.
- Plains All American Pipeline L.P. trades at a higher earnings multiple (20.8x vs 12.4x trailing P/E).
About MPLX
MPLX stock →MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Crude Oil and Products Logistics; and Natural Gas and NGL Services.
Energy · Oil & Gas Midstream
About Plains All American Pipeline L.P.
PAA stock →Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL.
Energy · Oil & Gas Midstream · 3,900 employees
MPLX vs PAA FAQ
Which is bigger, MPLX or Plains All American Pipeline L.P.?
MPLX (MPLX) is larger, with a market capitalization of $57.84B compared with $17.00B for Plains All American Pipeline L.P. (PAA).
Which stock has performed better over the past year, MPLX or PAA?
PAA returned +44.33% over the past 12 months, compared with +17.66% for MPLX (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, MPLX or PAA?
MPLX has the lower trailing P/E at 12.4, versus 20.8 for PAA. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, MPLX or Plains All American Pipeline L.P.?
MPLX has the higher yield at 7.55%, compared with 6.78% for Plains All American Pipeline L.P..
Are MPLX and Plains All American Pipeline L.P. in the same industry?
Yes. Both are classified in the Oil & Gas Midstream industry within the Energy sector.