MPLX LP [MPLX] stock Downgrade by Wolfe Research analyst, price target now $30

MPLX LP [NYSE: MPLX] loss -0.81% on the last trading session, reaching $28.19 price per share at the time. The company report on August 4, 2021 that MPLX LP Announces Retirement of Pamela K.M. Beall; John J. Quaid Named Executive Vice President and Chief Financial Officer of MPLX GP LLC.

MPLX LP (NYSE: MPLX) announced that Pamela K.M. Beall, Executive Vice President and Chief Financial Officer of MPLX GP LLC, will retire later this year after more than 25 years of service with sponsor Marathon Petroleum (NYSE: MPC) and MPLX. John J. Quaid will succeed Ms. Beall as Executive Vice President and Chief Financial Officer of the general partner, effective Sept. 1, 2021.

Ms. Beall began her career with Marathon as an auditor and rejoined the company in 2002, where she has since served in a wide range of capacities, including Vice President of Downstream Business Development; Vice President of Global Procurement; and Vice President of Products, Supply and Optimization. Ms. Beall was Vice President, Investor Relations and Government and Public Affairs during MPC’s separation from Marathon Oil in 2011 and supported MPLX’s initial public offering in 2012. She was named President, MPLX GP LLC in 2014, leading the company’s diversification into natural gas and natural gas liquids logistics services, before assuming her current role in 2016.

MPLX LP represents 1.04 billion in outstanding shares, while the company has a total market value of $29.42 billion with the latest information. MPLX stock price has been found in the range of $27.85 to $28.98.

If compared to the average trading volume of 2.18M shares, MPLX reached a trading volume of 3505775 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 $31.60 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 2.00. 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 Peer Perform, with their previous recommendation back on July 16, 2021. The new note on the price target was released on February 16, 2021, representing the official price target for MPLX LP stock. Previously, the target price had yet another raise to $28, while Raymond James analysts kept a Outperform rating on MPLX stock.

The Average True Range (ATR) for MPLX LP is set at 0.82, with the Price to Sales ratio for MPLX stock in the period of the last 12 months amounting to 3.30. The Price to Book ratio for the last quarter was 2.43, with the Price to Cash per share for the same quarter was set at 0.02. Price to Free Cash Flow for MPLX in the course of the last twelve months was 35.62 with Quick ratio for the last quarter at 1.00.

Trading performance analysis for MPLX stock

MPLX LP [MPLX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.84. With this latest performance, MPLX shares dropped by -5.66% in over the last four-week period, additionally plugging by 17.31% over the last 6 months – not to mention a rise of 43.53% 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 47.39, with the RSI for the last a single of trading hit 48.04, and the three-weeks RSI is set at 47.71 for MPLX LP [MPLX]. The present Moving Average for the last 50 days of trading for this stock 29.06, while it was recorded at 28.36 for the last single week of trading, and 25.13 for the last 200 days.

MPLX LP [MPLX]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and MPLX LP [MPLX] shares currently have an operating margin of +39.48 and a Gross Margin at +45.40. MPLX LP’s Net Margin is presently recorded at -8.47.

Return on Total Capital for MPLX is now 9.26, given the latest momentum, and Return on Invested Capital for the company is -2.02. Return on Equity for this stock declined to -4.63, with Return on Assets sitting at -1.87. When it comes to the capital structure of this company, MPLX LP [MPLX] has a Total Debt to Total Equity ratio set at 150.49. Additionally, MPLX Total Debt to Total Capital is recorded at 60.08, with Total Debt to Total Assets ending up at 56.79. Long-Term Debt to Equity for the company is recorded at 163.21, with the Long-Term Debt to Total Capital now at 57.67.

Reflecting on the efficiency of the workforce at the company, MPLX LP [MPLX] managed to generate an average of -$126,316 per employee. Receivables Turnover for the company is 6.96 with a Total Asset Turnover recorded at a value of 0.22.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 LP [MPLX]: An earnings per share (EPS) analysis

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 35.40%.

An analysis of insider ownership at MPLX LP [MPLX]

There are presently around $8,068 million, or 28.00% of MPLX stock, in the hands of institutional investors. The top three institutional holders of MPLX stocks are: BLACKSTONE GROUP INC with ownership of 67,479,346, which is approximately -0.648% of the company’s market cap and around 0.10% of the total institutional ownership; INVESCO LTD., holding 21,668,084 shares of the stock with an approximate value of $610.82 million in MPLX stocks shares; and ALPS ADVISORS INC, currently with $563.79 million in MPLX stock with ownership of nearly -0.549% of the company’s market capitalization.

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Positions in MPLX LP stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 134 institutional holders increased their position in MPLX LP [NYSE:MPLX] by around 10,706,525 shares. Additionally, 128 investors decreased positions by around 23,910,383 shares, while 67 investors held positions by with 251,576,081 shares. The mentioned changes placed institutional holdings at 286,192,989 shares, according to the latest SEC report filing. MPLX stock had 38 new institutional investments in for a total of 738,647 shares, while 32 institutional investors sold positions of 2,492,103 shares during the same period.

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