Bank of America initiated coverage on shares of Mplx (NYSE:MPLX) in a report released on Tuesday morning, The Fly reports. The brokerage issued a buy rating on the pipeline company’s stock.
Several other analysts also recently commented on the stock. Credit Suisse Group began coverage on shares of Mplx in a report on Thursday, January 4th. They set an outperform rating and a $43.00 target price for the company. Guggenheim downgraded shares of Mplx from a buy rating to a neutral rating and set a $36.00 target price for the company. in a report on Monday, December 18th. Royal Bank of Canada reaffirmed a buy rating and set a $46.00 target price on shares of Mplx in a report on Wednesday, November 15th. BidaskClub raised shares of Mplx from a strong sell rating to a sell rating in a report on Tuesday, October 31st. Finally, UBS Group lifted their target price on shares of Mplx from $43.00 to $44.00 and gave the stock a buy rating in a report on Friday, October 27th. Two analysts have rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $41.67.
Mplx (MPLX) opened at $38.78 on Tuesday. Mplx has a 12-month low of $30.88 and a 12-month high of $39.43. The company has a market cap of $16,110.00, a PE ratio of 42.62, a PEG ratio of 2.95 and a beta of 1.38. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.54 and a quick ratio of 0.48.
Mplx (NYSE:MPLX) last announced its earnings results on Thursday, October 26th. The pipeline company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. The business had revenue of $980.00 million during the quarter, compared to the consensus estimate of $965.07 million. Mplx had a net margin of 16.79% and a return on equity of 5.87%. Mplx’s revenue was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 EPS. sell-side analysts expect that Mplx will post 1.08 earnings per share for the current year.
In other Mplx news, VP Gregory Scott Floerke sold 2,000 shares of Mplx stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $36.00, for a total value of $72,000.00. Following the completion of the sale, the vice president now owns 79,598 shares in the company, valued at approximately $2,865,528. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 8,000 shares of company stock valued at $284,760 in the last quarter.
A number of institutional investors have recently modified their holdings of MPLX. Pathstone Family Office LLC acquired a new position in shares of Mplx in the 2nd quarter valued at approximately $119,000. Tower Research Capital LLC TRC acquired a new position in shares of Mplx in the 2nd quarter valued at approximately $191,000. Saratoga Research & Investment Management acquired a new position in shares of Mplx in the 3rd quarter valued at approximately $192,000. Ameritas Investment Partners Inc. acquired a new position in shares of Mplx in the 3rd quarter valued at approximately $193,000. Finally, Advisor Group Inc. raised its position in shares of Mplx by 15.5% in the 2nd quarter. Advisor Group Inc. now owns 6,140 shares of the pipeline company’s stock valued at $205,000 after buying an additional 822 shares in the last quarter. Institutional investors and hedge funds own 64.29% of the company’s stock.
MPLX LP is a master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets. The Company is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids (NGLs), and the gathering, transportation and storage of crude oil and refined petroleum products.
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