Now trading at a price of $47.23, MPLX LP has moved 1.8% so far today.
MPLX LP returned gains of 29.1% last year, with its stock price reaching a high of $47.62 and a low of $35.51. Over the same period, the stock underperformed the S&P 500 index by -2.7%. The company's 50-day average price was $44.43. MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. The Large-Cap Energy company is based in Findlay, OH. MPLX LP has offered a 7.6% dividend yield over the last 12 months.
Exceptional Profitability Overshadowed by Excessive Leverage:
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (M) | $7,005 | $9,041 | $7,569 | $10,027 | $11,613 | $11,281 |
| Operating Margins | 28% | 16% | -9% | 31% | 42% | 43% |
| Net Margins | 26% | 11% | -10% | 31% | 34% | 35% |
| Net Income (M) | $1,818 | $1,033 | -$720 | $3,077 | $3,944 | $3,928 |
| Net Interest Expense (M) | -$119 | -$53 | -$62 | -$86 | $77 | $897 |
| Depreciation & Amort. (M) | $766 | $1,254 | $1,377 | $1,287 | $1,230 | $1,213 |
| Diluted Shares (M) | 761 | 907 | 1,051 | 1,027 | 1,010 | 1,002 |
| Earnings Per Share | $2.39 | $1.14 | -$0.69 | $3.0 | $3.9 | $3.92 |
| EPS Growth | n/a | -52.3% | -160.53% | 534.78% | 30.0% | 0.51% |
| Avg. Price | $20.85 | $19.3 | $13.68 | $23.0 | $28.76 | $47.18 |
| P/E Ratio | 9.1 | 14.85 | -20.12 | 7.74 | 7.39 | 12.04 |
| Free Cash Flow (M) | $960 | $1,674 | $3,338 | $4,382 | $4,213 | $4,460 |
| CAPEX (M) | $2,111 | $2,408 | $1,183 | $529 | $806 | $937 |
| EV / EBITDA | 12.56 | 12.9 | 50.0 | 9.64 | 7.94 | 10.9 |
| Total Debt (M) | $18,435 | $19,713 | $20,139 | $18,571 | $19,796 | $20,431 |
| Net Debt / EBITDA | 6.6 | 7.25 | 29.08 | 4.22 | 3.18 | 3.17 |
| Current Ratio | 0.63 | 0.7 | 0.73 | 0.45 | 0.79 | 1.07 |
MPLX LP has strong operating margins with a positive growth rate, generally positive cash flows, and positive EPS growth. However, the firm has a highly leveraged balance sheet. Finally, we note that MPLX LP has growing revenues and decreasing reinvestment in the business and just enough current assets to cover current liabilities, as shown by its current ratio of 1.07.
a Very Low P/E Ratio but Trades Above Its Graham Number:
MPLX LP has a trailing twelve month P/E ratio of 10.5, compared to an average of 13.62 for the Energy sector. Based on its EPS guidance of $4.41, the company has a forward P/E ratio of 10.1. The 9.1% compound average growth rate of MPLX LP's historical and projected earnings per share yields a PEG ratio of 1.15. This implies that the shares are fairly valued. In contrast, MPLX LP is likely overvalued compared to the book value of its equity, since its P/B ratio of 3.59 is higher than the sector average of 1.86. The company's shares are currently trading 42.7% below their Graham number.
MPLX LP Has an Average Rating of Buy:
The 16 analysts following MPLX LP have set target prices ranging from $43.0 to $55.0 per share, for an average of $48.87 with a buy rating. The company is trading -3.4% away from its average target price, indicating that there is an analyst consensus of some upside potential.
MPLX LP has an average amount of shares sold short because 2.6% of the company's shares are sold short. Institutions own 25.5% of the company's shares, and the insider ownership rate stands at 63.74%, suggesting a large amount of insider shareholders. The largest shareholder is Alps Advisors Inc., whose 3% stake in the company is worth $1,210,261,326.
