Mplx Lp (NYSE:MPLX)‘s stock had its “buy” rating reissued by Jefferies Group LLC in a research report issued on Wednesday. They currently have a $44.00 price objective on the pipeline company’s stock. Jefferies Group LLC’s price target would indicate a potential upside of 21.95% from the stock’s previous close.
MPLX has been the subject of a number of other reports. FBR & Co reaffirmed a “hold” rating on shares of Mplx Lp in a report on Thursday, March 2nd. Barclays PLC raised their price target on shares of Mplx Lp from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, February 2nd. Mitsubishi UFJ Financial Group raised shares of Mplx Lp from a “neutral” rating to an “overweight” rating and set a $43.00 price target for the company in a report on Wednesday, March 1st. Citigroup Inc raised shares of Mplx Lp from a “neutral” rating to an “overweight” rating and raised their price target for the company from $42.00 to $43.00 in a report on Wednesday, March 1st. They noted that the move was a valuation call. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $47.00 price target on shares of Mplx Lp in a report on Friday, March 17th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $41.77.
Shares of Mplx Lp (NYSE:MPLX) opened at 36.08 on Wednesday. The stock has a market cap of $12.89 billion, a price-to-earnings ratio of 12026.67 and a beta of 1.37. The stock’s 50 day moving average price is $36.39 and its 200 day moving average price is $34.83. Mplx Lp has a one year low of $29.33 and a one year high of $39.43.
Mplx Lp (NYSE:MPLX) last issued its earnings results on Wednesday, February 1st. The pipeline company reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.06. Mplx Lp had a net margin of 7.22% and a return on equity of 3.24%. The business earned $714 million during the quarter, compared to analysts’ expectations of $687.77 million. During the same period in the prior year, the business posted ($0.14) EPS. The business’s revenue was up 114.4% on a year-over-year basis. Analysts forecast that Mplx Lp will post $1.17 earnings per share for the current year.
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In other Mplx Lp news, VP Randy S. Nickerson sold 15,000 shares of the firm’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $36.20, for a total transaction of $543,000.00. Following the completion of the transaction, the vice president now directly owns 177,552 shares of the company’s stock, valued at approximately $6,427,382.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Gregory Scott Floerke sold 1,000 shares of the firm’s stock in a transaction on Tuesday, January 24th. The stock was sold at an average price of $37.00, for a total transaction of $37,000.00. Following the transaction, the chief operating officer now directly owns 77,181 shares of the company’s stock, valued at $2,855,697. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,000 shares of company stock valued at $1,159,150.
A number of hedge funds and other institutional investors have recently made changes to their positions in MPLX. CENTRAL TRUST Co raised its position in shares of Mplx Lp by 19.8% in the third quarter. CENTRAL TRUST Co now owns 5,615 shares of the pipeline company’s stock valued at $190,000 after buying an additional 928 shares in the last quarter. Pinnacle Associates Ltd. bought a new position in shares of Mplx Lp during the fourth quarter valued at $202,000. TCI Wealth Advisors Inc. bought a new position in shares of Mplx Lp during the third quarter valued at $221,000. Brown Advisory Inc. bought a new position in shares of Mplx Lp during the fourth quarter valued at $225,000. Finally, Suntrust Banks Inc. raised its position in shares of Mplx Lp by 4.0% in the third quarter. Suntrust Banks Inc. now owns 7,412 shares of the pipeline company’s stock valued at $250,000 after buying an additional 287 shares in the last quarter. 67.94% of the stock is owned by institutional investors.
About Mplx Lp
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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