RBC Capital analyst Elvira Scotto maintains $MPLX LP (MPLX.US)$ with a buy rating, and adjusts the target price from $47 to $50.
According to TipRanks data, the analyst has a success rate of 69.2% and a total average return of 21.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $MPLX LP (MPLX.US)$'s main analysts recently are as follows:
Expectations for MPLX's growth in the coming years are moderated with projections of EBITDA increasing at a low single-digit rate, rather than 10%. The company's involvement in Blackcomb may constrain the potential for reducing capital expenditures in the near term, which could also suggest a cap on dividend growth in the 2025 to 2026 timeframe.
In anticipation of Q3 outcomes for U.S. Midstream entities, adjustments are being made to models to account for changes in commodity prices, hurricane-related effects, and a decrease in dry gas production. It is anticipated that the majority of companies will keep their 2024 projections. It is noted that despite potential minor headwinds due to a dip in NGL prices in Q3, the stock's appealing distribution yield is likely to sustain investor interest.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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