10 Cheap Energy Stocks to Buy Now

7. MPLX LP (NYSE:MPLX) 

Forward P/E Ratio as of May 11: 10.52

Formed in 2012 by Marathon Petroleum Corporation, MPLX LP (NYSE:MPLX) owns and operates midstream energy infrastructure and logistics assets and provides fuels distribution services.

MPLX LP (NYSE:MPLX) generated nearly $1.8 billion of EBITDA in Q1 2025, up 7% from the prior year. The company’s EPS of $1.1 was in-line with expectations, while its revenue of $3.12 billion fell below estimates by $40 million. The company’s distributable cash flow for the quarter came in at $1.5 billion, which supported nearly $1 billion of distribution to its shareholders and $100 million in share repurchases.

MPLX LP (NYSE:MPLX) continues to grow and expand its footprint, with announcements of over $1 billion of strategic acquisitions since the beginning of the year. The company is in the process of expanding the BANGL NGL pipeline’s capacity, which it expects to complete in July. It is also building the Secretariat and Harmon Creek III natural gas processing plants, an LPG export terminal and related pipeline, and several other projects, which are expected to significantly improve its cash flow through the end of the decade. MPLX’s plans include spending $1.7 billion of capital on growth projects in 2025.