Mplx (NYSE:MPLX)‘s stock had its “neutral” rating reiterated by Bank of America in a report issued on Thursday. They presently have a $41.00 price target on the pipeline company’s stock, up from their previous price target of $36.00. Bank of America’s target price suggests a potential upside of 20.23% from the company’s current price.
A number of other research analysts have also issued reports on the company. Citigroup lowered their target price on Mplx from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, November 29th. Zacks Investment Research raised Mplx from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Wednesday, November 28th. Goldman Sachs Group reaffirmed a “neutral” rating on shares of Mplx in a report on Tuesday, October 9th. Finally, Credit Suisse Group began coverage on Mplx in a report on Thursday, October 11th. They set an “outperform” rating and a $45.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $40.08.
Shares of MPLX opened at $34.10 on Thursday. The firm has a market cap of $27.42 billion, a PE ratio of 32.17, a price-to-earnings-growth ratio of 2.35 and a beta of 1.30. The company has a current ratio of 0.77, a quick ratio of 0.70 and a debt-to-equity ratio of 1.85. Mplx has a one year low of $31.60 and a one year high of $39.38.
Mplx (NYSE:MPLX) last issued its quarterly earnings results on Thursday, November 1st. The pipeline company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.62 billion. Mplx had a return on equity of 21.03% and a net margin of 27.99%. The company’s quarterly revenue was up 74.7% compared to the same quarter last year. During the same period last year, the company earned $0.29 earnings per share. Sell-side analysts anticipate that Mplx will post 2.44 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of MPLX. Clearbridge Investments LLC increased its position in shares of Mplx by 3.5% during the third quarter. Clearbridge Investments LLC now owns 2,747,559 shares of the pipeline company’s stock valued at $95,285,000 after purchasing an additional 93,270 shares during the period. Diversified Trust Co boosted its stake in Mplx by 3.8% in the 3rd quarter. Diversified Trust Co now owns 63,078 shares of the pipeline company’s stock valued at $2,188,000 after buying an additional 2,291 shares in the last quarter. Belpointe Asset Management LLC acquired a new position in Mplx in the third quarter worth $104,000. Captrust Financial Advisors boosted its stake in Mplx by 963.1% in the third quarter. Captrust Financial Advisors now owns 31,203 shares of the pipeline company’s stock worth $1,082,000 after purchasing an additional 28,268 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in Mplx by 10.0% in the third quarter. Advisors Asset Management Inc. now owns 76,125 shares of the pipeline company’s stock worth $2,640,000 after purchasing an additional 6,923 shares in the last quarter. 31.03% of the stock is currently owned by institutional investors.
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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