Mplx (NYSE:MPLX) Stock Rating Lowered by StockNews.com

Mplx (NYSE:MPLX) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday.

Other analysts have also recently issued research reports about the stock. UBS Group boosted their target price on shares of Mplx from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Wells Fargo & Company upped their price objective on shares of Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $47.00 price objective on shares of Mplx in a research note on Wednesday, August 28th. Finally, Barclays dropped their price objective on shares of Mplx from $46.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $46.56.

Mplx Trading Up 0.9 %

Shares of Mplx stock opened at $45.08 on Monday. The firm has a 50-day simple moving average of $42.68 and a two-hundred day simple moving average of $41.75. The company has a market cap of $45.81 billion, a P/E ratio of 11.62, a price-to-earnings-growth ratio of 1.19 and a beta of 1.37. Mplx has a fifty-two week low of $34.52 and a fifty-two week high of $45.09. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.95 and a current ratio of 0.99.

Mplx (NYSE:MPLX) last released its earnings results on Tuesday, August 6th. The pipeline company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.17. The business had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Mplx had a net margin of 35.95% and a return on equity of 32.68%. The company’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.91 earnings per share. As a group, equities analysts predict that Mplx will post 4.24 earnings per share for the current fiscal year.

Institutional Trading of Mplx

Hedge funds have recently made changes to their positions in the company. Quent Capital LLC acquired a new position in shares of Mplx in the 1st quarter worth approximately $35,000. Pacifica Partners Inc. acquired a new position in shares of Mplx in the 1st quarter worth approximately $41,000. Crewe Advisors LLC acquired a new position in shares of Mplx in the 1st quarter worth approximately $41,000. Register Financial Advisors LLC acquired a new stake in Mplx during the 1st quarter worth approximately $42,000. Finally, CWM LLC lifted its holdings in Mplx by 73.3% during the 2nd quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock worth $45,000 after buying an additional 451 shares in the last quarter. Hedge funds and other institutional investors own 24.25% of the company’s stock.

About Mplx

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.