MPLX vs SHEL: Which Is the Better Dividend Stock?
As of September 2026, MPLX (MPLX LP) screens as the stronger dividend stock, winning 5 of 8 head-to-head metrics. MPLX offers the higher yield at 7.20%, MPLX has the higher dividend-safety score, and MPLX trades at the larger discount to fair value (+73%).
| Metric | MPLX | SHEL |
|---|---|---|
| Forward yield | 7.20% | 3.28% |
| Annual dividend | $4.31 | $3.12 |
| Payout ratio | 90% | 33% |
| Years of growth | 4 yr | 5 yr |
| 5-yr dividend growth | 7.5% | 17.2% |
| 5-yr total return | 110% | 109% |
| Dividend safety score | 80 (A) | 74 (B) |
| Fair value estimate | $102.95 | $92.49 |
| Upside to fair value | +73% | -0% |
| Frequency | quarterly | quarterly |
| Market cap | $61.1B | $273.5B |
| P/E ratio | 12.9 | 10.6 |
Higher yield
MPLX
7.20%
Safer dividend
MPLX
Grade A
Faster growth
SHEL
17.2%
Better value
MPLX
+73% upside
MPLX vs SHEL — FAQ
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