Mplx Lp (NYSE:MPLX) has received a consensus recommendation of “Buy” from the fourteen analysts that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $35.60.
MPLX has been the topic of a number of analyst reports. Raymond James lowered their price objective on Mplx from $38.00 to $34.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Bank of America raised Mplx from a “neutral” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Tuesday, June 11th. Barclays reaffirmed an “overweight” rating and set a $33.00 price objective on shares of Mplx in a research report on Monday, August 19th. Scotiabank initiated coverage on Mplx in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $36.00 price objective on the stock. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $35.00 price objective on shares of Mplx in a research report on Tuesday, September 3rd.
In other news, CEO Gary R. Heminger acquired 42,600 shares of Mplx stock in a transaction on Wednesday, August 7th. The shares were acquired at an average price of $27.18 per share, with a total value of $1,157,868.00. Following the purchase, the chief executive officer now directly owns 131,956 shares in the company, valued at approximately $3,586,564.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Garry L. Peiffer acquired 18,000 shares of Mplx stock in a transaction on Wednesday, August 7th. The stock was purchased at an average cost of $27.15 per share, for a total transaction of $488,700.00. Following the purchase, the director now owns 14,302 shares in the company, valued at $388,299.30. The disclosure for this purchase can be found here. Insiders have purchased a total of 79,400 shares of company stock worth $2,159,808 in the last three months.
Shares of MPLX stock traded up $0.12 during trading hours on Thursday, reaching $29.89. 3,238,558 shares of the company traded hands, compared to its average volume of 2,037,485. Mplx has a 12-month low of $25.85 and a 12-month high of $35.90. The company has a debt-to-equity ratio of 2.07, a current ratio of 0.75 and a quick ratio of 0.68. The company has a market cap of $31.47 billion, a P/E ratio of 13.05 and a beta of 1.11. The firm has a 50-day moving average price of $28.05 and a 200 day moving average price of $31.08.
Mplx (NYSE:MPLX) last posted its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.05). Mplx had a net margin of 28.78% and a return on equity of 27.94%. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the firm earned $0.55 earnings per share. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. Sell-side analysts predict that Mplx will post 2.52 EPS for the current year.
Mplx Company Profile
MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. The company also provides fuels distribution services. 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; and transportation, storage, and distribution of crude oil and refined petroleum products.
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