Mplx (NYSE:MPLX) PT Raised to $49.00

Mplx (NYSE:MPLX) had its target price hoisted by research analysts at Barclays from $45.00 to $49.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the pipeline company’s stock. Barclays‘s price objective indicates a potential upside of 10.57% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. StockNews.com cut Mplx from a “strong-buy” rating to a “buy” rating in a report on Monday, September 23rd. Wells Fargo & Company upped their price objective on Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $47.00 target price on shares of Mplx in a report on Wednesday, August 28th. Finally, UBS Group upped their price target on shares of Mplx from $49.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $47.88.

Mplx Stock Up 0.8 %

Shares of Mplx stock opened at $44.32 on Thursday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.99 and a quick ratio of 0.95. Mplx has a 1-year low of $35.06 and a 1-year high of $45.24. The business’s fifty day moving average price is $43.05 and its two-hundred day moving average price is $42.06. The company has a market capitalization of $45.03 billion, a P/E ratio of 11.40, a PEG ratio of 1.22 and a beta of 1.37.

Mplx (NYSE:MPLX) last posted its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.17. The business had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $2.96 billion. Mplx had a net margin of 35.95% and a return on equity of 32.68%. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.91 earnings per share. As a group, research analysts forecast that Mplx will post 4.24 EPS for the current year.

Institutional Investors Weigh In On Mplx

Several hedge funds have recently bought and sold shares of MPLX. Mcdonald Partners LLC lifted its stake in shares of Mplx by 1.4% in the second quarter. Mcdonald Partners LLC now owns 17,180 shares of the pipeline company’s stock worth $732,000 after buying an additional 239 shares during the last quarter. Sound Income Strategies LLC grew its holdings in shares of Mplx by 10.4% during the second quarter. Sound Income Strategies LLC now owns 2,992 shares of the pipeline company’s stock worth $127,000 after purchasing an additional 282 shares during the last quarter. Belfer Management LLC increased its holdings in shares of Mplx by 4.4% in the first quarter. Belfer Management LLC now owns 7,733 shares of the pipeline company’s stock valued at $321,000 after purchasing an additional 325 shares in the last quarter. Prossimo Advisors LLC increased its position in Mplx by 6.3% in the second quarter. Prossimo Advisors LLC now owns 6,509 shares of the pipeline company’s stock worth $277,000 after purchasing an additional 386 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its stake in Mplx by 5.9% in the second quarter. Brown Brothers Harriman & Co. now owns 7,505 shares of the pipeline company’s stock valued at $320,000 after buying an additional 415 shares during the period. 24.25% of the stock is owned by hedge funds and other institutional investors.

Mplx Company Profile

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.