MPLX’s (MPLX) Buy Rating Reiterated at Barclays PLC

Barclays PLC reiterated their buy rating on shares of MPLX LP (NYSE:MPLX) in a research report report published on Thursday, October 19th. Barclays PLC currently has a $39.00 target price on the pipeline company’s stock.

A number of other research firms also recently commented on MPLX. BidaskClub downgraded shares of MPLX from a hold rating to a sell rating in a research report on Tuesday, September 26th. Zacks Investment Research downgraded shares of MPLX from a hold rating to a sell rating in a report on Wednesday, October 18th. Stifel Nicolaus reiterated a buy rating and issued a $42.00 target price (down from $43.00) on shares of MPLX in a report on Tuesday, September 5th. Scotiabank set a $44.00 target price on shares of MPLX and gave the stock a buy rating in a report on Saturday, July 22nd. Finally, Royal Bank Of Canada reiterated a buy rating on shares of MPLX in a report on Friday, July 28th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. MPLX currently has a consensus rating of Buy and an average target price of $41.77.

Shares of MPLX (MPLX) opened at 35.32 on Thursday. MPLX has a 52-week low of $30.88 and a 52-week high of $39.43. The stock’s 50 day moving average price is $34.61 and its 200-day moving average price is $34.48. The firm has a market capitalization of $13.72 billion, a PE ratio of 42.20 and a beta of 1.36.

MPLX (NYSE:MPLX) last released its quarterly earnings results on Thursday, October 26th. The pipeline company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. MPLX had a net margin of 16.79% and a return on equity of 5.88%. The company had revenue of $980.00 million for the quarter, compared to the consensus estimate of $965.07 million. During the same period in the previous year, the firm earned $0.21 EPS. MPLX’s revenue was up 16.9% on a year-over-year basis. Equities research analysts anticipate that MPLX will post $1.03 EPS for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Monday, November 6th will be given a dividend of $0.5875 per share. The ex-dividend date is Friday, November 3rd. This is an increase from MPLX’s previous quarterly dividend of $0.56. This represents a $2.35 dividend on an annualized basis and a yield of 6.65%. MPLX’s payout ratio is presently 247.26%.

In related news, VP C Corwin Bromley sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $34.50, for a total transaction of $86,250.00. Following the transaction, the vice president now directly owns 123,705 shares of the company’s stock, valued at $4,267,822.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 8,000 shares of company stock worth $276,910 over the last ninety days.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Alps Advisors Inc. grew its position in MPLX by 5.3% during the second quarter. Alps Advisors Inc. now owns 20,056,272 shares of the pipeline company’s stock valued at $669,879,000 after purchasing an additional 1,015,105 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its position in MPLX by 1.1% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 19,105,648 shares of the pipeline company’s stock valued at $638,129,000 after purchasing an additional 202,094 shares in the last quarter. Atlantic Trust Group LLC grew its position in MPLX by 2.9% during the second quarter. Atlantic Trust Group LLC now owns 6,753,284 shares of the pipeline company’s stock valued at $225,561,000 after purchasing an additional 187,807 shares in the last quarter. Bank of Montreal Can grew its position in MPLX by 36.3% during the second quarter. Bank of Montreal Can now owns 6,234,136 shares of the pipeline company’s stock valued at $208,220,000 after purchasing an additional 1,661,578 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in MPLX by 9.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,812,175 shares of the pipeline company’s stock valued at $127,327,000 after purchasing an additional 327,092 shares in the last quarter. 63.19% of the stock is currently owned by hedge funds and other institutional investors.

MPLX Company Profile

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.

Analyst Recommendations for MPLX (NYSE:MPLX)

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