Zacks Investment Research lowered shares of Mplx (NYSE:MPLX) from a buy rating to a hold rating in a research note published on Friday morning.
According to Zacks, “MPLX LP is a fee-based limited partnership formed to own, operate, develop and acquire crude oil, refined product and other hydrocarbon-based product pipelines and other midstream assets. The Company’s assets consist of a network of common carrier crude oil and product pipeline systems and associated storage assets in the Midwest and Gulf Coast regions of the United States. MPLX LP is based in Findlay, Ohio. “
A number of other equities analysts have also recently issued reports on MPLX. Jefferies Group cut Mplx from a buy rating to a hold rating and set a $38.00 price objective for the company. in a report on Monday, February 5th. Morgan Stanley upgraded Mplx from an equal rating to a weight rating and set a $40.00 price objective for the company in a report on Friday, March 23rd. Credit Suisse Group began coverage on Mplx in a report on Thursday, January 4th. They set an outperform rating and a $43.00 target price for the company. Stifel Nicolaus restated a buy rating and set a $45.00 target price on shares of Mplx in a report on Thursday, February 1st. Finally, Royal Bank of Canada restated an outperform rating and set a $43.00 target price (down from $44.00) on shares of Mplx in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $41.25.
Shares of MPLX traded down $0.73 during midday trading on Friday, reaching $32.31. The stock had a trading volume of 1,039,236 shares, compared to its average volume of 2,312,393. Mplx has a 12-month low of $30.88 and a 12-month high of $39.38. The company has a current ratio of 0.43, a quick ratio of 0.38 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $26,225.50, a P/E ratio of 30.48, a PEG ratio of 3.05 and a beta of 1.26.
Mplx (NYSE:MPLX) last posted its quarterly earnings data on Thursday, February 1st. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.03). Mplx had a return on equity of 6.98% and a net margin of 17.90%. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $937.04 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. Mplx’s revenue for the quarter was up 27.9% compared to the same quarter last year. equities research analysts predict that Mplx will post 1.93 EPS for the current year.
Hedge funds have recently modified their holdings of the stock. Advisor Group Inc. raised its position in Mplx by 24.7% during the 4th quarter. Advisor Group Inc. now owns 7,135 shares of the pipeline company’s stock valued at $253,000 after purchasing an additional 1,411 shares during the last quarter. Groesbeck Investment Management Corp NJ raised its position in Mplx by 5.5% during the 4th quarter. Groesbeck Investment Management Corp NJ now owns 35,384 shares of the pipeline company’s stock valued at $1,255,000 after purchasing an additional 1,830 shares during the last quarter. Bamco Inc. NY raised its position in Mplx by 9.6% during the 4th quarter. Bamco Inc. NY now owns 27,300 shares of the pipeline company’s stock valued at $968,000 after purchasing an additional 2,400 shares during the last quarter. M&T Bank Corp raised its position in Mplx by 5.7% during the 4th quarter. M&T Bank Corp now owns 52,024 shares of the pipeline company’s stock valued at $1,845,000 after purchasing an additional 2,823 shares during the last quarter. Finally, Stephens Inc. AR raised its position in Mplx by 7.5% during the 4th quarter. Stephens Inc. AR now owns 50,608 shares of the pipeline company’s stock valued at $1,795,000 after purchasing an additional 3,535 shares during the last quarter. Institutional investors own 31.82% of the company’s stock.
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Mplx Company Profile
MPLX LP owns, operates, develops, and acquires midstream energy infrastructure assets. It operates in two segments, Logistics and Storage, and Gathering and Processing segments. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids (NGLs); and gathering, transportation, and storage of crude oil and refined petroleum products.
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