Mplx (NYSE:MPLX) Price Target Raised to $60.00

Mplx (NYSE:MPLX) had its price objective increased by analysts at Raymond James from $55.00 to $60.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the pipeline company’s stock. Raymond James’ price target suggests a potential upside of 12.01% from the stock’s current price.

MPLX has been the topic of several other reports. Truist Financial boosted their price target on Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. UBS Group boosted their price target on Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Bank of America initiated coverage on Mplx in a research note on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price objective on the stock. Royal Bank of Canada lifted their price objective on Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Finally, StockNews.com lowered 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 nine have given a buy rating to the company’s stock. According to data from MarketBeat, Mplx has a consensus rating of “Moderate Buy” and a consensus target price of $52.11.

Mplx Price Performance

Mplx stock traded down $0.26 during midday trading on Thursday, reaching $53.57. The company’s stock had a trading volume of 681,376 shares, compared to its average volume of 1,906,278. Mplx has a 52 week low of $37.47 and a 52 week high of $54.18. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. The business has a 50-day moving average price of $49.56 and a 200-day moving average price of $45.97. The stock has a market cap of $54.57 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 2.33 and a beta of 1.42.

Mplx (NYSE:MPLX) last released its quarterly earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.03. The company 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%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.10 earnings per share. On average, sell-side analysts predict that Mplx will post 4.18 EPS for the current year.

Insider Buying and Selling at Mplx

In other news, VP Carl Kristopher Hagedorn sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $47.24, for a total transaction of $188,960.00. Following the transaction, the vice president now directly 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 this link.

Institutional Investors Weigh In On Mplx

Several institutional investors have recently bought and sold shares of the stock. ING Groep NV grew its stake in Mplx by 69.8% in the 3rd quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock valued at $294,699,000 after purchasing an additional 2,725,000 shares during the period. Strategic Financial Concepts LLC grew its stake in shares of Mplx by 5,070.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 977,794 shares of the pipeline company’s stock worth $46,797,000 after acquiring an additional 958,881 shares during the period. FMR LLC grew its stake in shares of Mplx by 387.4% during the 3rd quarter. FMR LLC now owns 823,467 shares of the pipeline company’s stock worth $36,611,000 after acquiring an additional 654,500 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in shares of Mplx by 17.0% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,498,796 shares of the pipeline company’s stock worth $66,636,000 after acquiring an additional 217,674 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Mplx during the 3rd quarter worth $8,644,000. Institutional investors own 24.25% of the company’s stock.

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.