A share price of MPLX LP [MPLX] is currently trading at $41.92, up 1.45%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The MPLX shares have gain 3.02% over the last week, with a monthly amount glided 7.49%, and seem to be holding up well over a long-time horizon.
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On 26, March 2024, WHISTLER PIPELINE AND ENBRIDGE AGREE TO STRATEGIC COMBINATION OF WHISTLER AND RIO BRAVO NATURAL GAS ASSETS. In a post published today on Yahoo Finance, WhiteWater, I Squared, MPLX LP (NYSE: MPLX), and Enbridge Inc. (TSX: ENB) (NYSE: ENB) jointly announce they have entered into a definitive agreement to strategically combine the Whistler Pipeline and Rio Bravo Pipeline project in a newly formed joint venture.
From an analyst’s perspective:
Previously, JP Morgan upgraded its rating to Overweight on March 14, 2023, and elevated its price target to $41. On January 09, 2023, upgrade upgraded it’s rating to Outperform but maintained its price target of $36 on the stock. Citigroup started tracking the stock assigning a Neutral rating and suggested a price target of $33.50 on December 09, 2022. BofA Securities downgraded its rating to a Underperform but $34 remained the price target by the analyst firm on September 29, 2022.
MPLX LP experienced fluctuations in its stock price throughout the past year between $33.12 and $41.68. Currently, Wall Street analysts expect the stock to reach $37.56 within the next 12 months. MPLX LP [NYSE: MPLX] shares were valued at $41.92 at the most recent close of the market. An investor can expect a potential drop of -10.4% based on the average MPLX price forecast.
Analyzing the MPLX fundamentals
Trailing Twelve Months sales for MPLX LP [NYSE:MPLX] were 10.69B which represents 11.34% growth. Gross Profit Margin for this corporation currently stands at 0.57% with Operating Profit Margin at 0.41%, Pretax Profit Margin comes in at 0.37%, and Net Profit Margin reading is 0.37%. To continue investigating profitability, this company’s Return on Assets is posted at 0.11, Equity is 0.31 and Total Capital is 0.13. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.53.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 41.47 points at the first support level, and at 41.03 for the second support level. However, for the 1st resistance point, the stock is sitting at 42.15, and for the 2nd resistance point, it is at 42.39.
MPLX LP [MPLX] reported earnings per share of $1.1 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.94/share, meaning a difference of $0.16 and a surprise factor of 17.00%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.89 per share as compared to estimates of $0.93 per share, a difference of -$0.04 representing a surprise of -4.30%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for MPLX LP [NYSE:MPLX] is 1.07. Also, the Quick Ratio is 1.01, while the Cash Ratio stands at 0.4. Considering the valuation of this stock, the price to sales ratio is 3.96, the price to book ratio is 3.38 and price to earnings (TTM) ratio is 10.99.
