Mplx Lp (MPLX) Rating Reiterated by Royal Bank Of Canada
Mplx Lp (NYSE:MPLX)‘s stock had its “buy” rating reiterated by analysts at Royal Bank Of Canada in a research report issued to clients and investors on Wednesday. They presently have a $46.00 price target on the pipeline company’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 33.60% from the stock’s current price.
A number of other equities analysts also recently weighed in on MPLX. Guggenheim started coverage on shares of Mplx Lp in a research note on Thursday, July 20th. They set a “buy” rating and a $40.00 target price for the company. Scotiabank set a $44.00 target price on shares of Mplx Lp and gave the company a “buy” rating in a research note on Saturday, July 22nd. BidaskClub downgraded shares of Mplx Lp from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Jefferies Group LLC decreased their target price on shares of 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, Stifel Nicolaus reissued 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. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $41.67.
Shares of Mplx Lp (MPLX) traded up $0.02 on Wednesday, reaching $34.43. 846,700 shares of the company’s stock traded hands, compared to its average volume of 1,405,803. The company has a quick ratio of 0.48, a current ratio of 0.54 and a debt-to-equity ratio of 0.68. Mplx Lp has a twelve month low of $30.88 and a twelve month high of $39.43. The stock has a market capitalization of $14,310.00, a price-to-earnings ratio of 37.81, a PEG ratio of 4.89 and a beta of 1.37.
Mplx Lp (NYSE:MPLX) last issued its quarterly earnings data on Thursday, October 26th. The pipeline company reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. Mplx Lp had a net margin of 16.79% and a return on equity of 5.87%. The business had revenue of $980.00 million during the quarter, compared to analyst estimates of $965.07 million. During the same period last year, the business posted $0.21 earnings per share. Mplx Lp’s quarterly revenue was up 16.9% compared to the same quarter last year. analysts anticipate that Mplx Lp will post 1.01 earnings per share for the current fiscal year.
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In related news, VP C Corwin Bromley sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $34.65, for a total value of $173,250.00. Following the sale, the vice president now owns 123,705 shares in the company, valued at $4,286,378.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 8,000 shares of company stock worth $276,910 in the last 90 days.
Hedge funds have recently modified their holdings of the stock. Ffcm LLC purchased a new position in shares of Mplx Lp during the 2nd quarter worth $116,000. Pathstone Family Office LLC purchased a new position in shares of Mplx Lp during the 2nd quarter worth $119,000. Cedar Wealth Management LLC boosted its stake in shares of Mplx Lp by 17.6% during the 2nd quarter. Cedar Wealth Management LLC now owns 5,490 shares of the pipeline company’s stock worth $183,000 after acquiring an additional 820 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Mplx Lp during the 2nd quarter worth $191,000. Finally, Saratoga Research & Investment Management purchased a new position in shares of Mplx Lp during the 3rd quarter worth $192,000. Institutional investors own 62.86% of the company’s stock.
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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