Mplx (NYSE:MPLX) Receives Outperform Rating from Royal Bank Of Canada

Mplx (NYSE:MPLX)‘s stock had its “outperform” rating restated by investment analysts at Royal Bank Of Canada in a research report issued on Thursday,Benzinga reports. They presently have a $60.00 price objective on the pipeline company’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 6.67% from the stock’s previous close.

A number of other equities analysts also recently issued reports on MPLX. UBS Group increased their price target on Mplx from $64.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. JPMorgan Chase & Co. upped their price objective on shares of Mplx from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, March 10th. The Goldman Sachs Group raised their target price on shares of Mplx from $55.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Truist Financial dropped their price target on Mplx from $67.00 to $66.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Finally, Barclays lifted their price objective on Mplx from $58.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Mplx currently has an average rating of “Moderate Buy” and a consensus target price of $61.60.

Mplx Stock Performance

MPLX opened at $56.25 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.10 and a debt-to-equity ratio of 1.71. The firm’s 50-day moving average price is $55.83 and its 200-day moving average price is $56.00. Mplx has a 52-week low of $47.80 and a 52-week high of $59.98. The company has a market cap of $57.08 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 5.40 and a beta of 0.47.

Mplx (NYSE:MPLX) last posted its earnings results on Tuesday, May 5th. The pipeline company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.15). The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $3.09 billion. Mplx had a net margin of 36.38% and a return on equity of 32.74%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.10 earnings per share. As a group, equities analysts anticipate that Mplx will post 4.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Mplx

Hedge funds and other institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC increased its holdings in Mplx by 4.1% in the first quarter. NewEdge Advisors LLC now owns 24,049 shares of the pipeline company’s stock valued at $1,287,000 after buying an additional 939 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Mplx by 6.6% during the 2nd quarter. Geode Capital Management LLC now owns 16,557 shares of the pipeline company’s stock worth $853,000 after buying an additional 1,021 shares during the last quarter. Guggenheim Capital LLC boosted its position in shares of Mplx by 5.4% during the 2nd quarter. Guggenheim Capital LLC now owns 19,139 shares of the pipeline company’s stock worth $986,000 after acquiring an additional 972 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Mplx by 12.5% during the 2nd quarter. Cerity Partners LLC now owns 53,113 shares of the pipeline company’s stock worth $2,736,000 after acquiring an additional 5,916 shares in the last quarter. Finally, Glenview Trust co increased its holdings in shares of Mplx by 62.5% in the 2nd quarter. Glenview Trust co now owns 6,500 shares of the pipeline company’s stock valued at $335,000 after acquiring an additional 2,500 shares during the last quarter. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Mplx Company Profile

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.