Goldman slashes price target on MPLX LP [MPLX] – find out why.

MPLX LP [NYSE: MPLX] loss -1.93% or -0.76 points to close at $38.61 with a heavy trading volume of 3713075 shares. The company report on February 28, 2024 at 4:40 PM that MPLX LP files 2023 Form 10-K.

MPLX LP (NYSE: MPLX) today filed with the U.S. Securities and Exchange Commission its Annual Report on Form 10-K for the year ended Dec. 31, 2023. The filing can be viewed through a link on MPLX’s website at http://www.mplx.com by selecting the “SEC Filings” link under the “Investors” tab.

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Upon written request, unitholders may receive, free of charge, a hard copy of MPLX’s Annual Report on Form 10-K (including complete audited financial statements). Requests should be communicated in writing to MPLX LP, Attention: Investor Relations, 200 E. Hardin Street, Findlay, OH 45840.

The daily chart for MPLX points out that the company has recorded 10.44% gains over the past six months.

If we look at the average trading volume of 2.16M shares, MPLX reached to a volume of 3713075 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 $42.57 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 1.87. 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.

Goldman have made an estimate for MPLX LP shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 06, 2023. While these analysts kept the previous recommendation, JP Morgan raised their target price from $37 to $41. The new note on the price target was released on March 14, 2023, representing the official price target for MPLX LP stock. Previously, the target price had yet another raise to $36, while Wolfe Research analysts kept a Outperform rating on MPLX stock.

The Average True Range (ATR) for MPLX LP is set at 0.50, with the Price to Sales ratio for MPLX stock in the period of the last 12 months amounting to 3.62. The Price to Book ratio for the last quarter was 3.28, with the Price to Cash per share for the same quarter was set at 1.05. Price to Free Cash Flow for MPLX in the course of the last twelve months was 8.90 with Quick ratio for the last quarter at 1.85.

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 -3.09. With this latest performance, MPLX shares gained by 1.47% in over the last four-week period, additionally plugging by 10.44% over the last 6 months – not to mention a rise of 10.76% 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 52.53, with the RSI for the last a single of trading hit 46.76, and the three-weeks RSI is set at 55.26 for MPLX LP [MPLX]. The present Moving Average for the last 50 days of trading for this stock 37.63, while it was recorded at 39.35 for the last single week of trading, and 35.64 for the last 200 days.

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

MPLX LP’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.85 and a Current Ratio set at 1.96.

MPLX LP [MPLX]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, MPLX LP posted 0.91/share EPS, while the average EPS was predicted by analysts to be reported at 0.83/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 9.60%. 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 2.30%.

An analysis of Institutional ownership at MPLX LP [MPLX]

The top three institutional holders of MPLX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in MPLX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in MPLX stock with ownership which is approximately 5.8325%.

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