Mplx (MPLX) Coverage Initiated at Credit Suisse Group

Equities researchers at Credit Suisse Group started coverage on shares of Mplx (NYSE:MPLX) in a research note issued on Thursday. The brokerage set an “outperform” rating and a $43.00 price target on the pipeline company’s stock. Credit Suisse Group’s target price would indicate a potential upside of 16.85% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Stifel Nicolaus dropped their target price on shares of Mplx from $42.00 to $41.00 and set a “buy” rating for the company in a report on Friday, October 27th. BidaskClub upgraded shares of Mplx from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 31st. Mizuho restated a “buy” rating and set a $40.00 target price on shares of Mplx in a report on Friday, October 20th. Barclays restated a “buy” rating and set a $39.00 target price on shares of Mplx in a report on Thursday, October 19th. Finally, Guggenheim downgraded shares of Mplx from a “buy” rating to a “neutral” rating and set a $36.00 target price for the company. in a report on Monday, December 18th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $41.67.

Mplx (MPLX) opened at $36.80 on Thursday. The company has a quick ratio of 0.48, a current ratio of 0.54 and a debt-to-equity ratio of 0.68. The stock has a market cap of $15,290.00, a PE ratio of 40.44, a PEG ratio of 2.91 and a beta of 1.38. Mplx has a twelve month low of $30.88 and a twelve month high of $39.43.

Mplx (NYSE:MPLX) last announced its quarterly earnings results on Thursday, October 26th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. The business had revenue of $980.00 million during the quarter, compared to the consensus estimate of $965.07 million. Mplx had a net margin of 16.79% and a return on equity of 5.87%. The business’s revenue was up 16.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.21 EPS. analysts forecast that Mplx will post 1.08 earnings per share for the current fiscal year.

In other Mplx news, VP Gregory Scott Floerke sold 2,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $36.00, for a total transaction of $72,000.00. Following the sale, the vice president now directly owns 79,598 shares of the company’s stock, valued at approximately $2,865,528. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 8,000 shares of company stock worth $284,760 over the last ninety days.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Optimum Investment Advisors boosted its position in shares of Mplx by 0.3% in the second quarter. Optimum Investment Advisors now owns 7,654 shares of the pipeline company’s stock worth $256,000 after acquiring an additional 21 shares during the last quarter. CNH Partners LLC boosted its position in shares of Mplx by 0.4% in the second quarter. CNH Partners LLC now owns 23,115 shares of the pipeline company’s stock worth $772,000 after acquiring an additional 100 shares during the last quarter. M&T Bank Corp boosted its position in shares of Mplx by 0.3% in the second quarter. M&T Bank Corp now owns 59,573 shares of the pipeline company’s stock worth $1,990,000 after acquiring an additional 166 shares during the last quarter. Advisory Services Network LLC boosted its position in shares of Mplx by 2.3% in the second quarter. Advisory Services Network LLC now owns 9,363 shares of the pipeline company’s stock worth $313,000 after acquiring an additional 213 shares during the last quarter. Finally, Keybank National Association OH boosted its position in shares of Mplx by 2.8% in the second quarter. Keybank National Association OH now owns 8,980 shares of the pipeline company’s stock worth $300,000 after acquiring an additional 245 shares during the last quarter. 64.29% of the stock is currently owned by institutional investors and hedge funds.

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Mplx 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.

Analyst Recommendations for Mplx (NYSE:MPLX)

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