Investors Should Take Note Of MPLX LP (MPLX)


    Tortoise Capital Advisors LLC has recently announced that it has increased stake in MPLX LP (NYSE:MPLX) by 7.54%. After grabbing 30.37 million shares, the institutional investor is now in possession of 2.13 million shares of the Energy Company. The new investment brought the stake of investor firm to 2.87% having worth around $554.8 million. Moreover, Invesco Advisers, Inc. increased its share by 10.45 million to have a control over 23.21 million shares. And CIBC Private Wealth Advisors, Inc.. raised its holdings to 1.52 million shares by acquiring 8.84 million shares or 0.84% of the stake.

    MPLX LP (MPLX) concluded trading on 08/26/20 at a closing price of $17.81, with 2.56 million shares of worth about $45.64 million changed hands on the day. Weekly performance of the stock remained negative as price took a plunge of -5.67% during that period and on Wednesday the price saw a loss of about -4.30%. Currently the company’s common shares owned by public are about 1.06B shares, out of which, 406.09M shares are available for trading.

    A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 17 analysts are covering the MPLX stock and their offered price forecasts bring an average price target of $23.53. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $28.00 and could fall to a lowest price of $21.00. Analysts also issued an outlook of 2.00 for the MPLX LP stock for next 12 months. The stock’s current price level is 24.44% above of average price target set by the analysts, while a rise to estimated low would result in gain of 15.19 for the stock. However, touching the estimated high of $28.00 would mean a gain of 36.39% for the stock.

    According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 96 times over the past 12 months. They bought 160,663 shares in 68 of the transactions. In 28 selling transactions, insiders dumped 37,247,538 shares.

    Alerian MLP ETF, Invesco Oppenheimer SteelPath MLP, and Center Coast Brookfield Midstream are the top 3 mutual funds which are holding stakes in MPLX LP Alerian MLP ETF is currently holding 21.58 million shares of worth totaling $394.2 million. The company recently came selling 7182.0 shares which brought its stake up to 2.04% of the company’s outstanding shares. Invesco Oppenheimer SteelPath MLP bought 10.85 million shares, after which its hold over company’s outstanding shares expand to 1.22%, leaving 12.95 million shares with the mutual fund that have a worth of about $236.6 million. Center Coast Brookfield Midstream, after selling 6.7 million shares, have now control over 0.63% of the stake in the company. It holds -0.41 million shares of worth $122.45 million.

    MPLX LP (NYSE: MPLX) started trading at $18.59, below -$0.02 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $17.81, or with a loss of -4.30%. Stock saw a price change of -5.67% in past 5 days and over the past one month there was a price change of -1.06%. Year-to-date (YTD), MPLX shares are showing a performance of -30.05% which decreased to -34.67% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $6.87 but also hit the highest price of $30.53 during that period. While comparing its average daily trading volume of 3.00 million shares, we see that about 2.56 million changed hands on the day. The stock is currently trading -6.28% below its 20-day simple moving average (SMA20), while that difference is down -3.28% for SMA50 and it goes to -9.81% lower than SMA200.

    Tortoise Capital Advisors LLC acquired 30.37 million shares of MPLX LP having value of about $554.8 million. Data submitted at the U.S SEC by Tortoise Capital Advisors LLC revealed that the firm now holds 2.13 million shares in the company valued at close to $37937027.57, or have control over 7.54% stake in the company. MPLX LP (NYSE: MPLX) currently have 1.06B outstanding shares and institutions hold larger chunk of about 30.10% of that. Holding of mutual funds in the company is about 15.87% while other institutional holders and individual stake holders have control over 61.45% and 10.04% of the stake respectively.

    The stock has a current market capitalization of $18.97B and its 3Y-monthly beta is at 2.02. It has posted earnings per share of -$1.98 in the same period. It has Quick Ratio of 1.00 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for MPLX, volatility over the week remained 3.36% while standing at 3.71% over the month.

    Analysts are in expectations that MPLX LP (MPLX) stock would likely to be making an EPS of $0.55 in the current quarter, while forecast for next quarter ESPS is $0.59 and it is $2.32 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.45 which is $0.61 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.61 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -55.00% while it is estimated to increase by 360.70% in next year. EPS is likely to grow at an annualized rate of 4.51% for next 5-years, compared to annual growth of -7.80% made by the stock over the past 5-years.

    Analysts at 17 brokerage firms have issued recommendations for the MPLX LP (MPLX)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 17 Wall Street analysts, 11 recommended a “Buy” rating, while 6 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

    Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Morgan Stanley on July 15, 2020 offering an Equal-weight rating for the stock and assigned a target price of to it. Coverage by Credit Suisse stated MPLX LP (MPLX) stock as an Outperform in their note to investors on April 02, 2020, suggesting a price target of $18 for the stock. On March 24, 2020, Barclays Upgrade their recommendations, while on March 19, 2020, BofA/Merrill Upgrade their ratings for the stock with a price target of $20. Stock get a Mkt perform rating from Raymond James on March 12, 2020.


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