RBC Capital Maintains Positive Outlook on MPLX LP (MPLX) Ahead of Q2 Report

MPLX LP (NYSE:MPLX) ranks among the best performing energy stocks to buy now. In anticipation of MPLX LP (NYSE:MPLX)’s second-quarter results report, which is set for August 5, RBC Capital reaffirmed its Outperform rating and $58 price target on the company’s shares on July 3. Following talks with investor relations, RBC Capital analyst Elvira Scotto reduced the company’s quarterly projections, pointing out that both headwinds and tailwinds will impact upcoming results.

RBC Capital Maintains Positive Outlook on MPLX LP (MPLX) Ahead of Q2 Report

Even with the revised forecasts, RBC Capital considers MPLX LP (NYSE:MPLX) to be one of the most alluring yield bets inside its covered universe. The firm emphasized that MPLX currently has a yield of over 7%, which RBC expects to grow by 12.5% in the upcoming few years.

Founded in 2012 by Marathon Petroleum Corporation, MPLX LP (NYSE:MPLX) owns and operates midstream energy infrastructure alongside logistics assets and offers fuels distribution services.

While we acknowledge the potential of MPLX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MPLX and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.