Market Analysts see MPLX LP [MPLX] gaining to $37. Time to buy?

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MPLX LP [NYSE: MPLX] jumped around 1.57 points on Wednesday, while shares priced at $34.13 at the close of the session, up 4.82%. The company report on May 3, 2022 that MPLX LP Reports First-Quarter 2022 Financial Results.

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Reported first-quarter net income attributable to MPLX of $825 million and adjusted EBITDA attributable to MPLX of $1.4 billion .

MPLX LP stock is now 15.34% up from its year-to-date (YTD) trading value. MPLX Stock saw the intraday high of $34.13 and lowest of $32.77 per share. The company’s 52-week high price is 35.49, which means current price is +15.34% above from all time high which was touched on 04/21/22.

Compared to the average trading volume of 2.21M shares, MPLX reached a trading volume of 3668644 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $37.79 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 2.10. 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.

Truist have made an estimate for MPLX LP shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 02, 2022. While these analysts kept the previous recommendation, BofA Securities raised their target price to Buy. The new note on the price target was released on September 28, 2021, representing the official price target for MPLX LP stock. Previously, the target price had yet another raise to $30, while Wolfe Research analysts kept a Peer Perform rating on MPLX stock.

The Average True Range (ATR) for MPLX LP is set at 0.90, with the Price to Sales ratio for MPLX stock in the period of the last 12 months amounting to 3.51. The Price to Book ratio for the last quarter was 3.10, with the Price to Cash per share for the same quarter was set at 0.01. Price to Free Cash Flow for MPLX in the course of the last twelve months was 37.06 with Quick ratio for the last quarter at 0.40.

How has MPLX stock performed recently?

MPLX LP [MPLX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.37. With this latest performance, MPLX shares gained by 1.25% in over the last four-week period, additionally plugging by 11.25% over the last 6 months – not to mention a rise of 21.35% 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 57.05, with the RSI for the last a single of trading hit 60.60, and the three-weeks RSI is set at 55.74 for MPLX LP [MPLX]. The present Moving Average for the last 50 days of trading for this stock 33.09, while it was recorded at 32.87 for the last single week of trading, and 30.68 for the last 200 days.

MPLX LP [MPLX]: Deeper insight into the fundamentals

MPLX LP’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.50.

Earnings analysis for MPLX LP [MPLX]

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 9.94%.

Insider trade positions for MPLX LP [MPLX]

There are presently around $8,271 million, or 25.00% of MPLX stock, in the hands of institutional investors. The top three institutional holders of MPLX stocks are: BLACKSTONE INC. with ownership of 66,127,749, which is approximately -0.918% of the company’s market cap and around 0.10% of the total institutional ownership; INVESCO LTD., holding 20,369,875 shares of the stock with an approximate value of $663.24 million in MPLX stocks shares; and ALPS ADVISORS INC, currently with $558.52 million in MPLX stock with ownership of nearly -2.378% of the company’s market capitalization.

159 institutional holders increased their position in MPLX LP [NYSE:MPLX] by around 9,819,373 shares. Additionally, 136 investors decreased positions by around 19,757,418 shares, while 74 investors held positions by with 224,453,823 shares. The mentioned changes placed institutional holdings at 254,030,614 shares, according to the latest SEC report filing. MPLX stock had 46 new institutional investments in for a total of 4,519,061 shares, while 29 institutional investors sold positions of 3,151,253 shares during the same period.