Mplx Lp (NYSE:MPLX)‘s stock had its “buy” rating reiterated by Mizuho in a research note issued to investors on Friday, October 20th. They presently have a $40.00 price objective on the pipeline company’s stock. Mizuho’s price objective indicates a potential upside of 13.25% from the company’s previous close.
A number of other brokerages have also recently weighed in on MPLX. BidaskClub cut Mplx Lp from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. Zacks Investment Research lowered Mplx Lp from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. Stifel Nicolaus reissued a “buy” rating and issued a $42.00 price objective (down from $43.00) on shares of Mplx Lp in a research report on Tuesday, September 5th. Barclays PLC reaffirmed a “buy” rating and set a $39.00 target price on shares of Mplx Lp in a research report on Thursday, October 19th. Finally, Scotiabank set a $44.00 target price on Mplx Lp and gave the stock a “buy” rating in a research report on Saturday, July 22nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $41.77.
Shares of Mplx Lp (NYSE MPLX) opened at 35.32 on Friday. Mplx Lp has a 12-month low of $30.88 and a 12-month high of $39.43. The stock has a market cap of $13.72 billion, a price-to-earnings ratio of 42.20 and a beta of 1.36. The company’s 50-day moving average price is $34.64 and its 200 day moving average price is $34.47.
Mplx Lp (NYSE:MPLX) last posted its quarterly earnings data on Thursday, October 26th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.02. Mplx Lp had a return on equity of 5.88% and a net margin of 16.79%. The business had revenue of $980.00 million for the quarter, compared to analysts’ expectations of $965.07 million. During the same quarter last year, the firm earned $0.21 earnings per share. The business’s revenue was up 16.9% on a year-over-year basis. On average, equities analysts predict that Mplx Lp will post $1.03 earnings per share for the current year.
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In other Mplx Lp news, VP C Corwin Bromley sold 5,000 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $34.65, for a total value of $173,250.00. Following the transaction, the vice president now owns 123,705 shares of the company’s stock, valued at $4,286,378.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 8,000 shares of company stock worth $276,910 in the last ninety days.
Large investors have recently made changes to their positions in the business. IHT Wealth Management LLC acquired a new stake in Mplx Lp during the 2nd quarter valued at $1,229,000. Ffcm LLC purchased a new position in shares of Mplx Lp during the 2nd quarter valued at $116,000. Pathstone Family Office LLC purchased a new position in shares of Mplx Lp during the 2nd quarter valued at $119,000. Cedar Wealth Management LLC grew its holdings in shares of Mplx Lp by 17.6% during the 2nd quarter. Cedar Wealth Management LLC now owns 5,490 shares of the pipeline company’s stock valued at $183,000 after acquiring an additional 820 shares in the last quarter. Finally, Saratoga Research & Investment Management purchased a new position in shares of Mplx Lp during the 3rd quarter valued at $192,000. 63.19% of the stock is currently owned by institutional investors.
Mplx Lp 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.
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