Mplx (NYSE:MPLX) Price Target Raised to $59.00 at Wells Fargo & Company

Mplx (NYSE:MPLX) had its target price lifted by analysts at Wells Fargo & Company from $54.00 to $59.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the pipeline company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 10.23% from the company’s current price.

A number of other analysts have also recently issued reports on the company. UBS Group increased their target price on Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Barclays raised their price target on Mplx from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Truist Financial increased their price objective on Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Bank of America began coverage on shares of Mplx in a research report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price target for the company. Finally, StockNews.com cut shares of Mplx from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.13.

Mplx Stock Down 0.5 %

Shares of NYSE MPLX traded down $0.30 during mid-day trading on Thursday, reaching $53.52. The company had a trading volume of 299,191 shares, compared to its average volume of 1,888,741. The stock has a market capitalization of $54.53 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 2.33 and a beta of 1.42. Mplx has a twelve month low of $37.47 and a twelve month high of $54.18. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. The stock’s 50 day moving average is $49.56 and its 200-day moving average is $45.97.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Mplx had a return on equity of 32.70% and a net margin of 36.77%. Mplx’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.10 earnings per share. As a group, equities analysts anticipate that Mplx will post 4.18 earnings per share for the current fiscal year.

Insider Activity at Mplx

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $47.24, for a total value of $188,960.00. Following the transaction, the vice president now owns 14,750 shares of the company’s stock, valued at $696,790. This represents a 21.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Hedge Funds Weigh In On Mplx

Large investors have recently made changes to their positions in the business. Sanctuary Advisors LLC purchased a new position in shares of Mplx in the second quarter worth about $826,000. SG Americas Securities LLC purchased a new position in Mplx in the third quarter valued at $422,000. Mather Group LLC. raised its holdings in Mplx by 39.6% in the 3rd quarter. Mather Group LLC. now owns 6,110 shares of the pipeline company’s stock worth $272,000 after purchasing an additional 1,732 shares during the period. Daymark Wealth Partners LLC lifted its holdings in Mplx by 13.5% during the third quarter. Daymark Wealth Partners LLC now owns 34,908 shares of the pipeline company’s stock valued at $1,552,000 after purchasing an additional 4,149 shares in the last quarter. Finally, Valeo Financial Advisors LLC purchased a new stake in Mplx in the 3rd quarter valued at $217,000. 24.25% of the stock is owned by institutional investors and hedge funds.

About Mplx

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Logistics and Storage (L&S) and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.