Mplx (NYSE:MPLX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday, February 20th.
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. “
MPLX has been the subject of a number of other research reports. Jefferies Group cut Mplx from a “buy” rating to a “hold” rating and set a $38.00 price target for the company. in a report on Monday, February 5th. Royal Bank of Canada restated an “outperform” rating and issued a $43.00 price target (down from $44.00) on shares of Mplx in a research report on Friday, February 2nd. Citigroup restated a “buy” rating and issued a $46.00 price target on shares of Mplx in a research report on Friday, February 2nd. Stifel Nicolaus reiterated a “buy” rating and issued a $45.00 price objective on shares of Mplx in a research report on Thursday, February 1st. Finally, Barclays lowered Mplx from an “overweight” rating to an “equal weight” rating and set a $39.00 price objective for the company. in a research report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. Mplx currently has a consensus rating of “Hold” and an average price target of $41.55.
Mplx (MPLX) traded down $0.65 on Tuesday, hitting $34.71. The stock had a trading volume of 5,964,745 shares, compared to its average volume of 1,800,000. Mplx has a 52-week low of $30.88 and a 52-week 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 company has a market cap of $27,550.00, a price-to-earnings ratio of 33.06, a price-to-earnings-growth ratio of 3.28 and a beta of 1.32.
Mplx (NYSE:MPLX) last announced its earnings results on Thursday, February 1st. The pipeline company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.03). The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $937.04 million. Mplx had a return on equity of 6.98% and a net margin of 17.90%. The firm’s quarterly revenue was up 27.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 earnings per share. research analysts forecast that Mplx will post 1.93 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the business. SWS Partners purchased a new stake in Mplx in the 4th quarter valued at approximately $149,000. Captrust Financial Advisors acquired a new stake in shares of Mplx during the 4th quarter valued at approximately $179,000. Saratoga Research & Investment Management acquired a new stake in shares of Mplx during the 3rd quarter valued at approximately $192,000. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Mplx during the 4th quarter valued at approximately $195,000. Finally, Ameritas Investment Partners Inc. acquired a new position in shares of Mplx during the 3rd quarter worth approximately $193,000. 32.23% of the stock is currently owned by institutional investors.
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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