MPLX LP Partnership Units
MPLX: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$34.00 | Vyxxqz | Sgltllwj |
MPLX Reports Solid Q2 and Adds to Buyback Authorization; We're Increasing Our FVE
MPLX’s second-quarter results were solid, in our view. After updating our model to account for the most recent quarter of unit buybacks and healthy cash flows, we’re increasing our fair value estimate to $31 per unit from $30. Our narrow moat rating is unchanged. MPLX noted that nearly all of its contracts have a level of inflation protection based on Consumer Price Index, Producer Price Index, or Federal Energy Regulatory Commission indexed rates.