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Why Is MPLX Underperforming Peers in 2016?

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Part 6
Why Is MPLX Underperforming Peers in 2016? PART 6 OF 8

MPLX Is Trading at a Higher Yield Compared to Historical Average

MPLX trades at a higher yield

MPLX (MPLX) currently trades at a forward distribution yield of 6.7%, which is higher than its three-year average yield of 4.8%. The Alerian MLP Index (AMZ), an index of the top midstream MLPs, currently trades at a yield of ~7.2%.

MPLX Is Trading at a Higher Yield Compared to Historical Average

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The above graph compares MPLX’s forward distribution yields to its three-year average.

MPLX’s EV-to-EBITDA multiple

MPLX’s forward EV-to-EBITDA (enterprise value to earnings before interest, tax, depreciation, and amortization) multiple of 11.1 is lower than its historical average of 13.2.

MPLX’s forward EV-to-EBITDA multiple is also lower than its trailing-12-month EV-to-EBITDA multiple of 23.3, which indicates expectations of EBITDA growth in the rest of 2016.

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