MPLX LP [MPLX] Revenue clocked in at $10.84 billion, up 10.92% YTD: What’s Next?

MPLX LP [NYSE: MPLX] stock went on an upward path that rose over 2.15% on Tuesday, amounting to a one-week price increase of more than 4.32%. The company report on September 19, 2022 that Whistler Pipeline Announces a New Joint Venture Pipeline With Cheniere.


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WhiteWater Midstream, LLC (“WhiteWater”) today announced that subsidiaries of Whistler Pipeline, LLC and Cheniere Energy, Inc. (NYSE American: LNG) (“Cheniere”) have executed agreements to move forward with the construction of the ADCC Pipeline, which is a new joint venture 42-inch pipeline that is expected to extend approximately 43 miles from the terminus of the Whistler Pipeline to Cheniere’s Corpus Christi Liquefaction Facility.

The ADCC Pipeline has been designed to transport up to 1.7 billion cubic feet per day (Bcf/d) of natural gas, expandable to 2.5 Bcf/d of natural gas, and is expected to be in service in 2024, pending the receipt of customary regulatory and other approvals.

Over the last 12 months, MPLX stock rose by 8.37%. The one-year MPLX LP stock forecast points to a potential upside of 13.63. The average equity rating for MPLX stock is currently 2.40, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $33.60 billion, with 1.01 billion shares outstanding and 361.68 million shares in the current float. Compared to the average trading volume of 1.54M shares, MPLX stock reached a trading volume of 4001855 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $38.00 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 2.40. 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.

BofA Securities have made an estimate for MPLX LP shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on September 29, 2022. While these analysts kept the previous recommendation, Truist raised their target price to Buy. The new note on the price target was released on May 02, 2022, representing the official price target for MPLX LP stock. Previously, the target price had yet another raise to $36, while BofA Securities analysts kept a Buy rating on MPLX stock.

The Average True Range (ATR) for MPLX LP is set at 0.95, with the Price to Sales ratio for MPLX stock in the period of the last 12 months amounting to 3.10. The Price to Book ratio for the last quarter was 2.94, with the Price to Cash per share for the same quarter was set at 0.29. Price to Free Cash Flow for MPLX in the course of the last twelve months was 33.44 with Quick ratio for the last quarter at 0.70.

MPLX Stock Performance Analysis:

MPLX LP [MPLX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.32. With this latest performance, MPLX shares gained by 0.92% in over the last four-week period, additionally sinking by -6.12% over the last 6 months – not to mention a rise of 8.37% 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 60.13, with the RSI for the last a single of trading hit 65.86, and the three-weeks RSI is set at 56.96 for MPLX LP [MPLX]. The present Moving Average for the last 50 days of trading for this stock 31.91, while it was recorded at 31.79 for the last single week of trading, and 31.89 for the last 200 days.

Insight into MPLX LP Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and MPLX LP [MPLX] shares currently have an operating margin of +38.76 and a Gross Margin at +43.74. MPLX LP’s Net Margin is presently recorded at +31.70.

Return on Equity for this stock inclined to 23.21, with Return on Assets sitting at 8.56.

MPLX LP’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.70.

MPLX Stock EPS

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%.

MPLX LP [MPLX] Insider Position Details

There are presently around $7,846 million, or 23.80% of MPLX stock, in the hands of institutional investors. The top three institutional holders of MPLX stocks are: BLACKSTONE INC. with ownership of 57,574,248, which is approximately -1.686% of the company’s market cap and around 64.13% of the total institutional ownership; INVESCO LTD., holding 20,571,878 shares of the stock with an approximate value of $675.17 million in MPLX stocks shares; and ALPS ADVISORS INC, currently with $663.68 million in MPLX stock with ownership of nearly 3.908% of the company’s market capitalization.

Positions in MPLX LP stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 157 institutional holders increased their position in MPLX LP [NYSE:MPLX] by around 6,912,088 shares. Additionally, 133 investors decreased positions by around 18,836,139 shares, while 88 investors held positions by with 213,327,328 shares. The mentioned changes placed institutional holdings at 239,075,555 shares, according to the latest SEC report filing. MPLX stock had 35 new institutional investments in for a total of 2,074,359 shares, while 37 institutional investors sold positions of 1,860,246 shares during the same period.

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