Mplx (NYSE:MPLX) Price Target Raised to $73.00 at UBS Group

by · The Markets Daily

Mplx (NYSE:MPLX – Get Free Report) had its price objective lifted by UBS Group from $64.00 to $73.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the pipeline company’s stock. UBS Group’s target price points to a potential upside of 25.66% from the company’s current price.

Several other equities research analysts have also commented on MPLX. Barclays boosted their price objective on shares of Mplx from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Citigroup lifted their target price on shares of Mplx from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Wells Fargo & Company upped their price target on shares of Mplx from $59.00 to $63.00 and gave the company an “overweight” rating in a report on Friday. Wall Street Zen lowered shares of Mplx from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Morgan Stanley raised their price objective on shares of Mplx from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Mplx currently has an average rating of “Moderate Buy” and a consensus target price of $60.88.

Read Our Latest Analysis on MPLX

Mplx Price Performance

Shares of MPLX traded down $0.43 on Monday, reaching $58.10. The stock had a trading volume of 1,105,500 shares, compared to its average volume of 1,710,589. Mplx has a twelve month low of $44.60 and a twelve month high of $59.84. The firm has a market capitalization of $58.98 billion, a PE ratio of 12.05, a PEG ratio of 5.32 and a beta of 0.56. The firm has a 50-day moving average of $56.41 and a 200 day moving average of $53.43. The company has a quick ratio of 1.18, a current ratio of 1.23 and a debt-to-equity ratio of 1.66.

Mplx (NYSE:MPLX – Get Free Report) last issued its quarterly earnings data on Tuesday, February 3rd. The pipeline company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.07. The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Mplx had a return on equity of 34.37% and a net margin of 37.79%.Mplx’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.07 earnings per share. Sell-side analysts expect that Mplx will post 4.41 EPS for the current year.

Hedge Funds Weigh In On Mplx

Several institutional investors and hedge funds have recently modified their holdings of MPLX. CIBC Bancorp USA Inc. purchased a new stake in Mplx in the 3rd quarter worth approximately $134,319,000. Morgan Stanley lifted its stake in shares of Mplx by 23.7% during the 4th quarter. Morgan Stanley now owns 5,763,110 shares of the pipeline company’s stock worth $307,577,000 after purchasing an additional 1,104,510 shares during the period. Bank of America Corp DE boosted its holdings in shares of Mplx by 8.3% during the second quarter. Bank of America Corp DE now owns 9,873,619 shares of the pipeline company’s stock worth $508,590,000 after purchasing an additional 757,569 shares during the last quarter. Natixis boosted its holdings in shares of Mplx by 1,585.3% during the second quarter. Natixis now owns 403,758 shares of the pipeline company’s stock worth $20,798,000 after purchasing an additional 379,800 shares during the last quarter. Finally, Merewether Investment Management LP purchased a new stake in shares of Mplx in the second quarter valued at $16,988,000. Hedge funds and other institutional investors own 24.25% of the company’s stock.

About Mplx

(Get Free Report)

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.

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