MPLX Stock Pays a Hefty 7.4% Dividend Yield. Here's How Much $10,000 Generates in Passive Income Each Year.

MPLX LP, a midstream energy company, offers a 7.4% dividend yield, generating $740 annually on a $10,000 investment. The company has increased its dividend for 19 consecutive years, with payouts growing from $2.04 per share in 2016 to $4.31 currently. MPLX has delivered strong stock performance averaging 10.9% annually over 10 years, though it trades at a slightly elevated valuation with a forward P/E of 12. As an MLP, investors must handle additional K-1 tax forms.