Stifel Nicolaus Lowers Mplx Lp (MPLX) Price Target to $41.00
Mplx Lp (NYSE:MPLX) had its price target reduced by stock analysts at Stifel Nicolaus from $42.00 to $41.00 in a research report issued on Friday. The brokerage currently has a “buy” rating on the pipeline company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 16.08% from the stock’s current price.
MPLX has been the topic of several other research reports. Scotiabank restated a “buy” rating and issued a $44.00 target price on shares of Mplx Lp in a report on Wednesday, October 4th. Zacks Investment Research lowered Mplx Lp from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. BidaskClub lowered Mplx Lp from a “sell” rating to a “strong sell” rating in a research note on Friday, October 13th. Jefferies Group LLC dropped their price target on Mplx Lp from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Monday, August 28th. Finally, Barclays PLC reaffirmed a “buy” rating and issued a $39.00 price target on shares of Mplx Lp in a research note on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $41.77.
Shares of Mplx Lp (MPLX) traded up 3.49% on Friday, hitting $35.32. 1,919,926 shares of the stock were exchanged. The company has a 50 day moving average of $34.64 and a 200 day moving average of $34.47. Mplx Lp has a 52-week low of $30.88 and a 52-week high of $39.43. The company has a market cap of $14.38 billion, a price-to-earnings ratio of 37.57 and a beta of 1.36.
Mplx Lp (NYSE:MPLX) last issued its earnings results on Thursday, October 26th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.02. Mplx Lp had a net margin of 16.79% and a return on equity of 5.88%. The firm had revenue of $980.00 million for the quarter, compared to analysts’ expectations of $965.07 million. During the same quarter last year, the business earned $0.21 earnings per share. The business’s revenue was up 16.9% on a year-over-year basis. Equities research analysts forecast that Mplx Lp will post $1.03 earnings per share for the current year.
In other Mplx Lp news, VP C Corwin Bromley sold 2,500 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $34.50, for a total transaction of $86,250.00. Following the completion of the transaction, the vice president now owns 123,705 shares of the company’s stock, valued at $4,267,822.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 8,000 shares of company stock valued at $276,910 in the last three months.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Alps Advisors Inc. raised its position in shares of Mplx Lp by 5.3% in the 2nd quarter. Alps Advisors Inc. now owns 20,056,272 shares of the pipeline company’s stock worth $669,879,000 after purchasing an additional 1,015,105 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its position in shares of Mplx Lp by 1.1% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 19,105,648 shares of the pipeline company’s stock worth $638,129,000 after purchasing an additional 202,094 shares during the last quarter. Atlantic Trust Group LLC raised its position in shares of Mplx Lp by 2.9% in the 2nd quarter. Atlantic Trust Group LLC now owns 6,753,284 shares of the pipeline company’s stock worth $225,561,000 after purchasing an additional 187,807 shares during the last quarter. Bank of Montreal Can raised its position in shares of Mplx Lp by 36.3% in the 2nd quarter. Bank of Montreal Can now owns 6,234,136 shares of the pipeline company’s stock worth $208,220,000 after purchasing an additional 1,661,578 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Mplx Lp by 9.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,812,175 shares of the pipeline company’s stock worth $127,327,000 after purchasing an additional 327,092 shares during the last quarter. 63.19% of the stock is owned by hedge funds and other 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.
Receive News & Ratings for Mplx Lp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mplx Lp and related companies with MarketBeat.com's FREE daily email newsletter.