MPLX LP [NYSE: MPLX] price surged by 1.12 percent to reach at $0.19. The company report on October 28, 2020 that MPLX LP Announces Quarterly Distribution.
The board of directors of the general partner of MPLX LP (NYSE: MPLX) has declared a quarterly cash distribution of $0.6875 per common unit for the third quarter of 2020, or $2.75 on an annualized basis. The distribution will be paid on Nov. 13, 2020, to common unitholders of record as of Nov. 6, 2020.
This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat 100 percent of MPLX’s distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, MPLX’s distributions to non-United States investors are subject to federal income tax withholding at the highest applicable effective tax rate.
A sum of 2310376 shares traded at recent session while its average daily volume was at 2.67M shares. MPLX LP shares reached a high of $17.22 and dropped to a low of $16.76 until finishing in the latest session at $17.21.
The one-year MPLX stock forecast points to a potential upside of 26.39. The average equity rating for MPLX stock is currently 1.90, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on MPLX LP [MPLX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MPLX shares is $23.38 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MPLX stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wolfe Research have made an estimate for MPLX LP shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 21, 2020. While these analysts kept the previous recommendation, Goldman raised their target price to Buy. The new note on the price target was released on September 10, 2020, representing the official price target for MPLX LP stock. On April 02, 2020, analysts decreased their price target for MPLX shares from 21 to 18.
The Average True Range (ATR) for MPLX LP is set at 0.62, with the Price to Sales ratio for MPLX stock in the period of the last 12 months amounting to 2.35. The Price to Book ratio for the last quarter was 1.47, with the Price to Cash per share for the same quarter was set at 0.06.
MPLX Stock Performance Analysis:
MPLX LP [MPLX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.98. With this latest performance, MPLX shares gained by 10.96% in over the last four-week period, additionally sinking by -1.43% over the last 6 months – not to mention a drop of -34.74% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MPLX stock in for the last two-week period is set at 53.19, with the RSI for the last a single of trading hit 55.83, and the three-weeks RSI is set at 51.00 for MPLX LP [MPLX]. The present Moving Average for the last 50 days of trading for this stock 17.17, while it was recorded at 16.98 for the last single week of trading, and 17.89 for the last 200 days.
Insight into MPLX LP Fundamentals:
MPLX LP’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.10.
MPLX Stock EPS
With the latest financial reports released by the company, MPLX LP posted 0.61/share EPS, while the average EPS was predicted by analysts to be reported at 0.61/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MPLX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for MPLX LP go to 4.51%.
MPLX LP [MPLX] Insider Position Details
There are presently around $5,739 million, or 32.80% of MPLX stock, in the hands of institutional investors. The top three institutional holders of MPLX stocks are: BLACKSTONE GROUP INC with ownership of 52,063,318, which is approximately 132.246% of the company’s market cap and around 63.11% of the total institutional ownership; TORTOISE CAPITAL ADVISORS, L.L.C., holding 30,366,672 shares of the stock with an approximate value of $522.61 million in MPLX stocks shares; and HARVEST FUND ADVISORS LLC, currently with $495.34 million in MPLX stock with ownership of nearly 4.079% of the company’s market capitalization.
125 institutional holders increased their position in MPLX LP [NYSE:MPLX] by around 65,298,220 shares. Additionally, 134 investors decreased positions by around 50,741,800 shares, while 61 investors held positions by with 217,453,050 shares. The mentioned changes placed institutional holdings at 333,493,070 shares, according to the latest SEC report filing. MPLX stock had 28 new institutional investments in for a total of 2,307,350 shares, while 33 institutional investors sold positions of 12,165,200 shares during the same period.