In this article, we will take a look at the MLP Stocks List: 20 Largest MLPs.
When the price of gasoline or plastic goods goes up, it means the market is witnessing the end of a very long journey with complications that began deep underground. Master Limited Partnerships, or MLPs, are the companies that help manage the middle of that journey. They own the pipelines and storage tanks, thereby becoming a massive plumbing system for the energy industry. With benefits including tax advantages, these businesses have an infrastructure designed to pass most of their income directly to investors.
The sector’s stability is challenged when global trade takes a hit. Accordingly, on March 30, 2026, CNBC reported that a conflict in Iran and the subsequent closure of the Strait of Hormuz had triggered significant changes in oil prices. The disruption sent ripples across the world. Chinese manufacturers sounded the alarm, citing a surge in the cost of oil-based materials used in everyday items. Cameron Johnson of Tidalwave Solutions stated that if these shipping disruptions continue, industries such as the medical and automotive fields may have to compete for limited resources, effectively pointing to supply shortages. Though a ceasefire was announced on April 7, 2026, for two weeks to allow negotiations to proceed, the Financial Times said it is on shaky ground, leaving uncertainty to continue to loom over the global market.
Historically, midstream MLPs, which typically charge fees based on the volume of energy they move rather than the market price of oil, are often viewed as an effective business model for navigating such turbulent market conditions. Under existing conditions, large MLPs with a strong control over critical infrastructure can be a viable investment option.
In this regard, we have picked up the 20 largest MLPs that will help you in making informed decisions on your portfolio.
Our Methodology
We have compiled our list of the 20 largest MLPs by screening for the largest MLP market caps. We ranked these stocks by the number of hedge funds holding a stake in each. The fourth-quarter hedge fund data available in the Insider Monkey database has been used for this purpose. We limited our final selection to companies that have recently reported noteworthy developments likely to impact investor sentiment. All the pricing data are current as of market close on April 10, 2026.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).
20. USA Compression Partners, LP (NYSE:USAC)
Number of Hedge Fund Holders: 1
USA Compression Partners, LP (NYSE:USAC) is included in our list of the 20 largest MLPs.
On March 31, 2026, USA Compression Partners, LP (NYSE:USAC), posted materials presented at a Texas Capital Securities investor event and highlighted a 2026 adjusted EBITDA guidance of $770 million to $800 million following the acquisition of J-W Power Company, which expanded the fleet to 4.4 million active horsepower. The management further highlighted their DCF Growth Formula, focusing on scaling the fleet, achieving $10 million to $20 million in cost synergies, and maintaining capital discipline through a near-term leverage target of 3.75x. Additionally, the presentation provided transparency regarding the Partnership’s transition to a shared services model in Dallas, Texas, as well as its ability to capitalize on rising natural gas demand through 2030.
Separately, on March 9, 2026, Texas Capital upgraded its rating on USA Compression Partners, LP (NYSE:USAC) from Hold to Buy with a price target of $31. The analyst believes that USA Compression Partners, LP (NYSE:USAC) is positioned for 2026 outperformance as industry capacity tightens. Additionally, according to the firm, the company has a unique geographic reach across major U.S. basins, including the Permian and Gulf Coast, making Texas Capital view the stock as attractively valued at current levels.
Founded in 1998, USA Compression Partners, LP (NYSE:USAC) is one of the largest independent providers of natural gas compression services in the U.S. Based in Texas, the company operates a high-utilization fleet of large-horsepower compression units critical for transporting natural gas through infrastructure systems.
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