MPLX LP (NYSE:MPLX) shares, rose in value, with the stock price down by -0.52% to the previous day’s close as strong demand from buyers drove the stock to $42.13.
Actively observing the price movement in the last trading, the stock closed the session at $42.35. The value of beta (5-year monthly) was 1.34 whereas the PE ratio was 11.05 over 12-month period. Referring to stock’s 52-week performance, its high was $42.89, and the low was $33.12. On the whole, MPLX has fluctuated by 3.77% over the past month.
With the market capitalization of MPLX LP currently standing at about $42.58 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 30, 2024 – May 06, 2024. The company’s Forward Dividend Ratio is 3.25, with its dividend yield at 7.71%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.98, which is expected to increase to $1.08 for fiscal year $4.09 and then to about $4.29 by fiscal year 2025. Data indicates that the EPS growth is expected to be 7.60% in 2025, while the next year’s EPS growth is forecast to be 4.90%.
Analysts have estimated the company’s revenue for the quarter at $2.91 billion, with a low estimate of $2.77 billion and a high estimate of $3.04 billion. According to the average forecast, sales growth in current quarter could jump up 11.60%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $11.8 billion, representing an increase of 4.60% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that MPLX’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 4.80, with the price of MPLX currently trading nearly 2.96% and 6.58% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 71.21, while the 7-day volatility ratio is showing 1.23% which for the 30-day chart, stands at 1.10%. Furthermore, MPLX LP (MPLX)’s beta value is 1.34, and its average true range (ATR) is 0.48.
A comparison of MPLX LP (MPLX) with its peers suggests the former has fared considerably weaker in the market. MPLX showed an intraday change of -0.52% in last session, and over the past year, it grew by 22.22%%.
Data on historical trading for MPLX LP (NYSE:MPLX) indicates that the trading volumes over the past 10 days have averaged 1.71 million and over the past 3 months, they’ve averaged 2.17 million. According to company’s latest data on outstanding shares, there are 1.00 billion shares outstanding.
Nearly 65.32% of MPLX LP’s shares belong to company insiders and institutional investors own 21.48% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 11.06 million shares as on Mar 15, 2024, resulting in a short ratio of 4.69. According to the data, the short interest in MPLX LP (MPLX) stood at 1.09% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 9.9 million. The stock has risen by 14.73% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MPLX stock heading into the next quarter.
