Stifel lowers MPLX LP stock price target to $59 on Rockies divestiture impact

Investing.com - Stifel has reduced its price target on MPLX LP (NYSE:MPLX) to $59.00 from $60.00 while maintaining a Buy rating on the stock. The midstream energy company, currently valued at $49.19 billion, trades at a P/E ratio of 11.44x and offers a substantial dividend yield of 7.83%.

The adjustment primarily reflects the impact of the Rockies divestiture on the company’s 2026 financial outlook, according to Stifel’s analysis.

Stifel analyst Selman Akyol cited lower utilization on assets tied to MPC for the current quarter as a factor in the updated estimates.

The firm also noted slight adjustments for 2025 Northwind regarding the cadence of its expansions, which contributed to the revised price target.

Despite the price target reduction, Stifel has initiated 2027 estimates for MPLX LP while maintaining its positive Buy rating on the stock. InvestingPro analysis reveals the stock generally trades with low volatility and has maintained dividend payments for 13 consecutive years. Get the full financial health analysis and 7 additional ProTips with an InvestingPro subscription.

In other recent news, MPLX LP has seen varied analyst opinions regarding its stock price target. UBS maintained a Buy rating and a $64 price target, citing increased quarterly estimates due to higher ownership stakes in the BANGL and Matterhorn projects. In contrast, Wells Fargo lowered its price target to $59, reflecting the impact of MPLX’s sale of its Rockies gathering and processing assets on future earnings. Stifel, meanwhile, raised its target to $60, expressing confidence in MPLX’s growth outlook despite second-quarter results falling below expectations. Additionally, MPLX announced the appointment of Ray N. Walker, Jr. to its board of directors, expanding the board to eleven members. Walker, who has extensive experience in the energy sector, will also serve on the audit and conflicts committees. These developments highlight MPLX’s ongoing strategic adjustments and board enhancements.

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