Equities research analysts at Credit Suisse Group started coverage on shares of Mplx (NYSE:MPLX) in a research note issued to investors on Thursday, January 4th, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $43.00 price target on the pipeline company’s stock. Credit Suisse Group’s target price points to a potential upside of 11.89% from the company’s previous close.
Other equities research analysts have also recently issued research reports about the stock. 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 research note on Friday, October 27th. Stifel Nicolaus lowered their target price on shares of Mplx from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, October 27th. Mizuho reaffirmed a “buy” rating and set a $40.00 target price on shares of Mplx in a research note on Friday, October 20th. Barclays reaffirmed a “buy” rating and set a $39.00 target price on shares of Mplx in a research note on Thursday, October 19th. Finally, Scotiabank reissued a “buy” rating and set a $44.00 price target on shares of Mplx in a research report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $41.67.
Mplx (NYSE:MPLX) traded up $1.08 during trading hours on Thursday, hitting $38.43. 1,547,100 shares of the stock traded hands, compared to its average volume of 1,598,725. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.48 and a current ratio of 0.54. The stock has a market cap of $15,960.00, a price-to-earnings ratio of 42.23, a price-to-earnings-growth ratio of 2.95 and a beta of 1.38. Mplx has a 52-week low of $30.88 and a 52-week high of $39.43.
Mplx (NYSE:MPLX) last posted its earnings results on Thursday, October 26th. The pipeline company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.02. The firm had revenue of $980.00 million during the quarter, compared to analyst estimates of $965.07 million. Mplx had a net margin of 16.79% and a return on equity of 5.87%. The business’s quarterly revenue was up 16.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 EPS. equities research analysts forecast that Mplx will post 1.08 EPS for the current year.
In related news, VP Gregory Scott Floerke sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $37.00, for a total transaction of $74,000.00. Following the sale, the vice president now directly owns 77,598 shares in the company, valued at $2,871,126. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 8,000 shares of company stock worth $284,760 over the last 90 days.
Hedge funds have recently bought and sold shares of the company. Ffcm LLC acquired a new stake in shares of Mplx in the second quarter valued at approximately $116,000. Pathstone Family Office LLC acquired a new stake in shares of Mplx in the second quarter valued at approximately $119,000. Tower Research Capital LLC TRC acquired a new stake in shares of Mplx in the second quarter valued at approximately $191,000. Saratoga Research & Investment Management acquired a new stake in shares of Mplx in the third quarter valued at approximately $192,000. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Mplx during the third quarter worth $193,000. 64.29% of the stock is owned by institutional investors and hedge funds.
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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.
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