Mplx (NYSE:MPLX) Price Target Raised to $52.00

Mplx (NYSE:MPLX) had its target price increased by Royal Bank of Canada from $50.00 to $52.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the pipeline company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 9.73% from the stock’s previous close.

Several other brokerages have also recently issued reports on MPLX. UBS Group increased their price target on shares of Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday. StockNews.com raised Mplx from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Barclays lifted their target price on Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Bank of America assumed coverage on Mplx in a report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price target on the stock. Finally, Wells Fargo & Company lifted their price objective on Mplx from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $48.67.

Mplx Trading Up 0.8 %

Shares of MPLX traded up $0.37 during trading on Monday, reaching $47.39. 259,087 shares of the company traded hands, compared to its average volume of 1,854,163. The stock has a 50-day simple moving average of $44.51 and a 200-day simple moving average of $42.73. The stock has a market cap of $48.37 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 1.28 and a beta of 1.37. Mplx has a twelve month low of $35.51 and a twelve month high of $47.62. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40.

Mplx (NYSE:MPLX) last announced its earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). Mplx had a net margin of 36.77% and a return on equity of 32.70%. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same period in the previous year, the firm earned $0.89 EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts anticipate that Mplx will post 4.31 earnings per share for the current year.

Institutional Trading of Mplx

Several institutional investors have recently modified their holdings of the stock. Crewe Advisors LLC purchased a new stake in Mplx in the first quarter valued at $41,000. CWM LLC boosted its position in shares of Mplx by 73.3% in the 2nd quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock valued at $45,000 after purchasing an additional 451 shares during the period. Summit Securities Group LLC grew its stake in Mplx by 450.0% during the 2nd quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company’s stock worth $47,000 after buying an additional 900 shares during the last quarter. Cedar Wealth Management LLC acquired a new position in Mplx during the third quarter worth approximately $51,000. Finally, Redwood Wealth Management Group LLC purchased a new stake in Mplx in the second quarter valued at approximately $67,000. 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.