Mplx (NYSE:MPLX) Price Target Raised to $59.00
by Doug Wharley · The Cerbat GemMplx (NYSE:MPLX – Get Free Report) had its price objective upped by stock analysts at Barclays from $55.00 to $59.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the pipeline company’s stock. Barclays‘s price objective would indicate a potential upside of 4.42% from the stock’s previous close.
MPLX has been the topic of a number of other research reports. Stifel Nicolaus increased their target price on Mplx from $57.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. JPMorgan Chase & Co. increased their target price on Mplx from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, March 10th. Citigroup increased their target price on Mplx from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 10th. Truist Financial lowered their target price on Mplx from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Wells Fargo & Company increased their target price on Mplx from $59.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.89.
Check Out Our Latest Stock Report on Mplx
Mplx Price Performance
NYSE:MPLX traded up $0.14 during mid-day trading on Friday, hitting $56.50. 933,518 shares of the company’s stock traded hands, compared to its average volume of 1,714,444. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.18 and a current ratio of 1.23. The firm’s 50 day simple moving average is $57.37 and its 200 day simple moving average is $54.27. Mplx has a 1 year low of $46.72 and a 1 year high of $59.98. The company has a market cap of $57.36 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 5.12 and a beta of 0.56.
Mplx (NYSE:MPLX – Get Free Report) last posted its earnings results on Tuesday, February 3rd. The pipeline company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.07. Mplx had a net margin of 37.79% and a return on equity of 34.37%. The firm had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $3.23 billion. During the same period last year, the firm posted $1.07 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. Sell-side analysts expect that Mplx will post 4.41 EPS for the current year.
Institutional Investors Weigh In On Mplx
Several hedge funds have recently modified their holdings of MPLX. NewEdge Advisors LLC boosted its position in shares of Mplx by 4.1% in the first quarter. NewEdge Advisors LLC now owns 24,049 shares of the pipeline company’s stock worth $1,287,000 after acquiring an additional 939 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Mplx by 6.6% in the second quarter. Geode Capital Management LLC now owns 16,557 shares of the pipeline company’s stock valued at $853,000 after acquiring an additional 1,021 shares during the last quarter. Guggenheim Capital LLC boosted its holdings in Mplx by 5.4% in the second quarter. Guggenheim Capital LLC now owns 19,139 shares of the pipeline company’s stock valued at $986,000 after acquiring an additional 972 shares during the last quarter. Cerity Partners LLC boosted its holdings in Mplx by 12.5% in the second quarter. Cerity Partners LLC now owns 53,113 shares of the pipeline company’s stock valued at $2,736,000 after acquiring an additional 5,916 shares during the last quarter. Finally, Glenview Trust co boosted its holdings in Mplx by 62.5% in the second quarter. Glenview Trust co now owns 6,500 shares of the pipeline company’s stock valued at $335,000 after acquiring an additional 2,500 shares during the last quarter. 24.25% of the stock is owned by institutional investors and hedge funds.
Mplx Company Profile
MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.
The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.