MPLX (MPLX) vs TC Energy (TRP)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
MPLX (MPLX) has outperformed TC Energy (TRP) over the past year, gaining 17.7% versus a gain of 7.8%. Over five years, MPLX leads with a +85.6% price change compared with +9.8% for TRP. TC Energy is the larger company by market cap ($62.53 billion vs $58.17 billion), about 1.1 times the size.
On valuation, MPLX trades at a lower forward P/E (11.9x vs 21.8x for TC Energy). MPLX offers the higher dividend yield (7.51% vs 5.76%).
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 | TRP |
|---|---|---|
| Share price | $57.37 | $60.02 |
| Market cap | $58.17B | $62.53B |
| 1-day change | +0.56% | +1.83% |
| YTD return | +8.24% | +7.14% |
| 1-year return | +17.66% | +7.85% |
| 5-year return | +85.64% | +9.80% |
| P/E ratio (TTM) | 12.34 | 23.63 |
| Forward P/E | 11.90 | 21.77 |
| EPS (TTM) | $4.65 | $2.54 |
| Dividend yield | 7.51% | 5.76% |
| Annual dividend | $4.31 | $3.46 |
| Revenue (latest FY) | $13.00B | — |
| Revenue growth (YoY) | +8.92% | — |
| Net income (latest FY) | $4.95B | — |
| Operating margin | 45.72% | — |
| Net margin | 38.10% | — |
| 52-week high | $60.95 | $71.47 |
| 52-week low | $47.80 | $49.27 |
| Distance from 52-week high | -5.87% | -16.02% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +9.55% | +11.01% |
| Average volume | 1.40M | 2.70M |
| Shares outstanding | 1.01B | 1.04B |
| Employees | — | 6,574 |
| Sector | Energy | Utilities |
| Industry | Natural Gas Distribution | Natural Gas Distribution |
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
- TC Energy trades at a higher earnings multiple (23.6x vs 12.3x trailing P/E).
- MPLX offers a meaningfully higher dividend yield (7.51% vs 5.76%).
- The two companies sit in different sectors: MPLX in Energy and TC Energy in Utilities.
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 · Natural Gas Distribution
About TC Energy
TRP stock →TC Energy Corporation operates as an energy infrastructure company in Canada, the United States, and Mexico. It operates through four segments: Canadian Natural Gas Pipelines; U.S.
Utilities · Natural Gas Distribution · 6,574 employees
MPLX vs TRP FAQ
Which is bigger, MPLX or TC Energy?
TC Energy (TRP) is larger, with a market capitalization of $62.53B compared with $58.17B for MPLX (MPLX).
Which stock has performed better over the past year, MPLX or TRP?
MPLX returned +17.66% over the past 12 months, compared with +7.85% for TRP (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, MPLX or TRP?
MPLX has the lower trailing P/E at 12.3, versus 23.6 for TRP. 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 TC Energy?
MPLX has the higher yield at 7.51%, compared with 5.76% for TC Energy.
Are MPLX and TC Energy in the same industry?
Yes. Both are classified in the Natural Gas Distribution industry within the Energy sector.