MPLX LP (NYSE: MPLX) 52-Week High Located At $42.90, Forget The Dips, Just Ride The Rips

MPLX LP (NYSE:MPLX) does about 2.18M shares in volume on a normal day but saw 1714244 shares change hands in Friday’s trading. The company now has a market cap of 42.18B USD. Its current market price is $41.51, marking a decrease of -0.34% compared to the previous close of $41.65. The 52 week high reached by this stock is $42.90 whilst the lowest price level in 52 weeks is $33.12.

MPLX LP (MPLX) has a 20-day trading average at $41.21 and the current price is -3.24% off the 52-week high compared with 25.33% distance from its 52-week low. The 50-day simple moving average of the closing price is $41.01 and its 200-day simple moving average is $37.40. If we look at the stock’s price movements over the week, volatility stands at 0.90%, which increases to 1.41% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 53.98 to suggest the stock is neutral.

The consensus objective for the share price is $45.15, suggesting that the stock has a potential upside of 8.06% over the period.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on October 06, 2023 when Goldman resumed the stock to “Buy” and issued a price target of $40. JP Morgan upgraded the stock to “Overweight” from Neutral on March 14, 2023 at a price target of $37-$41. Wolfe Research upgraded its price target at $36.

MPLX LP (MPLX) stock is up 0.95% over the week and 1.00% over the past month. Its price is 13.04% year-to-date and 21.48% over the past year.

To reach the target analysts have set, the stock logically needs to grow 8.06 percent from here.

The company has a return on investment of 11.95% and return on equity of 30.41%. The price to earnings ratio (P/E ratio) amounts to 10.66 while the forward price to earnings ratio is 9.64. The beta has a value of 1.34. Price to book ratio is 3.27 and price to sales ratio is 3.90.