Mplx (NYSE:MPLX – Get Free Report) had its price target reduced by investment analysts at Morgan Stanley from $64.00 to $60.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the pipeline company’s stock. Morgan Stanley‘s target price points to a potential upside of 5.49% from the company’s previous close.
MPLX has been the subject of several other reports. Barclays boosted their price objective on shares of Mplx from $59.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Stifel Nicolaus assumed coverage on shares of Mplx in a research note on Thursday, September 10th. They issued a “hold” rating and a $65.00 target price on the stock. Wells Fargo & Company lifted their target price on shares of Mplx from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Weiss Ratings raised shares of Mplx from a “buy (a-)” rating to a “buy (a)” rating in a research report on Friday, October 30th. Finally, Royal Bank Of Canada increased their price target on Mplx from $60.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Mplx presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.50.
Read Our Latest Analysis on MPLX
Mplx Trading Up 0.1%
Shares of MPLX traded up $0.08 on Tuesday, hitting $56.88. 721,608 shares of the stock traded hands, compared to its average volume of 1,683,325. Mplx has a 1 year low of $51.60 and a 1 year high of $60.95. The stock’s 50 day moving average is $58.15 and its two-hundred day moving average is $57.26. The firm has a market capitalization of $57.67 billion, a P/E ratio of 13.29, a P/E/G ratio of 5.36 and a beta of 0.48. The company has a quick ratio of 0.83, a current ratio of 1.56 and a debt-to-equity ratio of 1.86.
Mplx (NYSE:MPLX – Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The pipeline company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. Mplx had a net margin of 32.91% and a return on equity of 30.30%. The company had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the prior year, the company posted $1.52 EPS. The company’s quarterly revenue was down .4% compared to the same quarter last year. As a group, sell-side analysts predict that Mplx will post 4.27 earnings per share for the current year.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of MPLX. Allspring Global Investments Holdings LLC raised its position in shares of Mplx by 2.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 23,515 shares of the pipeline company’s stock worth $1,324,000 after purchasing an additional 451 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Mplx by 264.5% in the 3rd quarter. International Assets Investment Management LLC now owns 30,000 shares of the pipeline company’s stock worth $1,690,000 after purchasing an additional 21,769 shares during the last quarter. Pathway Financial Advisers LLC boosted its position in Mplx by 7.2% during the 3rd quarter. Pathway Financial Advisers LLC now owns 57,395 shares of the pipeline company’s stock valued at $3,232,000 after purchasing an additional 3,856 shares during the period. Integrity Alliance LLC. acquired a new position in Mplx during the 3rd quarter valued at approximately $538,000. Finally, GraniteShares Advisors LLC grew its stake in Mplx by 1.6% during the 3rd quarter. GraniteShares Advisors LLC now owns 52,839 shares of the pipeline company’s stock worth $2,976,000 after buying an additional 816 shares during the last quarter. Institutional investors own 24.25% of the company’s stock.
About Mplx
MPLX LP is a diversified midstream energy company formed by Marathon Petroleum in 2012. It owns and operates infrastructure that gathers, processes, transports and stores energy products, connecting producers and refiners with customers and markets.
The company’s assets include natural gas and natural gas liquids gathering and processing facilities, pipelines and fractionation plants, as well as crude oil and refined-product pipelines, storage terminals and inland marine transport operations.
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