BidaskClub upgraded shares of Mplx Lp (NYSE:MPLX) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.
Other equities analysts also recently issued research reports about the company. Royal Bank Of Canada reaffirmed a buy rating on shares of Mplx Lp in a research report on Friday, July 28th. Scotiabank set a $44.00 price target on Mplx Lp and gave the stock a buy rating in a research report on Saturday, July 22nd. Guggenheim began coverage on Mplx Lp in a research report on Thursday, July 20th. They set a buy rating and a $40.00 price target for the company. Stifel Nicolaus reaffirmed a buy rating and set a $42.00 price target (down previously from $43.00) on shares of Mplx Lp in a research report on Tuesday, September 5th. Finally, Jefferies Group LLC reduced their price target on Mplx Lp from $42.00 to $41.00 and set a buy rating for the company in a research report on Monday, August 28th. One analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $42.25.
Mplx Lp (NYSE:MPLX) traded up 0.86% during mid-day trading on Friday, reaching $35.13. 2,939,930 shares of the company’s stock were exchanged. Mplx Lp has a 52-week low of $30.09 and a 52-week high of $39.43. The company has a market cap of $13.65 billion, a PE ratio of 41.97 and a beta of 1.36. The stock has a 50-day moving average price of $34.20 and a 200 day moving average price of $34.85.
Mplx Lp (NYSE:MPLX) last released its quarterly earnings results on Thursday, July 27th. The pipeline company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.10. Mplx Lp had a return on equity of 6.13% and a net margin of 19.07%. The firm had revenue of $916.00 million during the quarter, compared to the consensus estimate of $884.70 million. During the same quarter in the prior year, the firm posted ($0.11) EPS. The business’s revenue was up 31.2% on a year-over-year basis. Equities analysts predict that Mplx Lp will post $0.96 earnings per share for the current fiscal year.
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In other news, VP C Corwin Bromley sold 5,000 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $34.65, for a total value of $173,250.00. Following the completion of the sale, the vice president now owns 123,705 shares of the company’s stock, valued at approximately $4,286,378.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders sold 8,000 shares of company stock valued at $276,910.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP acquired a new stake in shares of Mplx Lp in the 2nd quarter valued at approximately $5,064,000. JPMorgan Chase & Co. boosted its holdings in shares of Mplx Lp by 9.5% in the 1st quarter. JPMorgan Chase & Co. now owns 4,915,070 shares of the pipeline company’s stock valued at $177,336,000 after buying an additional 427,617 shares during the last quarter. American International Group Inc. acquired a new stake in shares of Mplx Lp in the 1st quarter valued at approximately $567,000. Johnson Financial Group LLC acquired a new stake in shares of Mplx Lp in the 2nd quarter valued at approximately $254,000. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Mplx Lp in the 2nd quarter valued at approximately $2,971,000. 66.17% of the stock is owned by institutional investors.
Mplx Lp Company Profile
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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