MPLX (MPLX) vs Western Midstream Partners (WES)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
Western Midstream Partners (WES) has outperformed MPLX (MPLX) over the past year, gaining 19.6% versus a gain of 17.7%. Over five years, WES leads with a +97.5% price change compared with +85.6% for MPLX. MPLX is the larger company by market cap ($58.15 billion vs $19.05 billion), about 3.1 times the size.
On valuation, MPLX trades at a lower forward P/E (11.9x vs 12.0x for Western Midstream Partners). Western Midstream Partners offers the higher dividend yield (7.98% vs 7.51%). MPLX converts more of its revenue into profit, with a net margin of 38.1% versus 30.7%.
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 | WES |
|---|---|---|
| Share price | $57.36 | $46.10 |
| Market cap | $58.15B | $19.05B |
| 1-day change | +0.54% | +1.21% |
| YTD return | +8.24% | +16.91% |
| 1-year return | +17.66% | +19.64% |
| 5-year return | +85.64% | +97.52% |
| P/E ratio (TTM) | 12.34 | 14.59 |
| Forward P/E | 11.90 | 12.04 |
| EPS (TTM) | $4.65 | $3.16 |
| Dividend yield | 7.51% | 7.98% |
| Annual dividend | $4.31 | $3.68 |
| Revenue (latest FY) | $13.00B | $3.84B |
| Revenue growth (YoY) | +8.92% | +6.61% |
| Net income (latest FY) | $4.95B | $1.18B |
| Gross margin | — | 94.61% |
| Operating margin | 45.72% | 41.67% |
| Net margin | 38.10% | 30.73% |
| 52-week high | $60.95 | $50.07 |
| 52-week low | $47.80 | $36.90 |
| Distance from 52-week high | -5.89% | -7.92% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +9.57% | +7.78% |
| Average volume | 1.40M | 824.08K |
| Shares outstanding | 1.01B | 413.17M |
| Employees | — | 1,704 |
| 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
- MPLX is about 3.1 times larger than Western Midstream Partners by market value ($58.15B vs $19.05B).
- MPLX is more profitable, keeping 38.1 cents of every revenue dollar as net income versus 30.7 cents for Western Midstream Partners.
- The two companies sit in different sectors: MPLX in Energy and Western Midstream Partners 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 Western Midstream Partners
WES stock →Western Midstream Partners, LP, together with its subsidiaries, operates as a midstream energy company primarily in the United States. The company is involved in gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural gas liquids (NGLs), and crude oil; and gathering and disposing of produced water.
Utilities · Natural Gas Distribution · 1,704 employees
MPLX vs WES FAQ
Which is bigger, MPLX or Western Midstream Partners?
MPLX (MPLX) is larger, with a market capitalization of $58.15B compared with $19.05B for Western Midstream Partners (WES).
Which stock has performed better over the past year, MPLX or WES?
WES returned +19.64% 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 WES?
MPLX has the lower trailing P/E at 12.3, versus 14.6 for WES. 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 Western Midstream Partners?
Western Midstream Partners has the higher yield at 7.98%, compared with 7.51% for MPLX.
Are MPLX and Western Midstream Partners in the same industry?
Yes. Both are classified in the Natural Gas Distribution industry within the Energy sector.