7. Western Midstream Partners, LP (NYSE:WES)
Number of Hedge Fund Holders: 8
Western Midstream Partners, LP (NYSE:WES) is included in our list of the 20 largest MLPs.
On March 12, 2026, JPMorgan lowered its price target on Western Midstream Partners, LP (NYSE:WES) from $44 to $43 and kept a Neutral rating on the stock. The adjustment to the company’s financial model follows its fourth-quarter report.
In its fourth-quarter earnings call in February 2026, Western Midstream Partners, LP (NYSE:WES) responded to JPMorgan analyst Jeremy Tonet’s questions and projected steady expansion. Oscar Brown, the company’s Chief Executive Officer, anticipates a long-term EBITDA growth of 2% to 3%, with the water business as a primary driver, potentially outpacing the oil and gas segments. Brown also noted that Western Midstream Partners, LP (NYSE:WES)’s dominance in water infrastructure enables large-scale projects unmatched by its competitors. The management further emphasized that the company’s $25 billion enterprise value provides sufficient scale to remain competitive. Moving forward, the management intends to prioritize executing gathering and processing projects over pursuing growth for growth’s sake.
Founded in 2008, Western Midstream Partners, LP (NYSE:WES) is a master limited partnership that acquires, owns, develops, and operates midstream assets. Headquartered in Texas, the company provides gathering, processing, and transportation services for natural gas, NGLs, crude oil, and produced water, primarily in the Delaware Basin.
6. MPLX LP (NYSE:MPLX)
Number of Hedge Fund Holders: 16
MPLX LP (NYSE:MPLX) is included in our list of the 20 largest MLPs.
On April 7, 2026, Truist analyst Gabe Daoud lowered the price target on MPLX LP (NYSE:MPLX) by $1 to $66 and maintained a Buy rating on the stock. In addition to the near-term headwinds in the Natural Gas and NGL Services segment, the firm cited commodity price shifts during the quarter for reducing its first-quarter estimates. The analyst further added that the updated estimates incorporate production impacts from Winter Storm Fern and a one-time FERC regulatory benefit. Notably, Truist initiated coverage of MPLX LP (NYSE:MPLX) on March 23, 2026, with a price target of $67 while citing the company’s expansion of its G&P presence in the Permian and Marcellus as its core basins, as well as a timely divestiture of its Rockies assets that are not optimally utilized.
Similar to this adjustment, earlier on March 16, 2026, UBS raised its price target on MPLX LP (NYSE:MPLX) from $64 to $73. The firm’s analyst kept a Buy rating on the stock.
Founded in 2012, MPLX LP (NYSE:MPLX) is a leading midstream energy infrastructure provider that operates a diversified portfolio of gathering, processing, and fractionation assets, alongside a dominant crude oil and refined products pipeline network. Its headquarters is located in Ohio.
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Click to continue reading and see the MLP Stocks List: 5 Largest MLPs.
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