MPLX LP Lowered to “Underperform” at Merrill Lynch (MPLX)
MPLX LP (NASDAQ:MPLX) was downgraded by equities research analysts at Merrill Lynch to an “underperform” rating in a research note issued to investors on Friday, StockRatingsNetwork.com reports.
A number of other analysts have also recently weighed in on MPLX. Analysts at Bank of America Corp. downgraded shares of MPLX LP from a “neutral” rating to an “underperform” rating in a research note to investors on Friday. Separately, analysts at Howard Weil initiated coverage on shares of MPLX LP in a research note to investors on Monday, December 2nd. They set a “sector perform” rating and a $41.00 price target on the stock. Finally, analysts at Barclays raised their price target on shares of MPLX LP from $37.00 to $39.00 in a research note to investors on Friday, November 1st. They now have an “equal weight” rating on the stock. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. MPLX LP currently has an average rating of “Hold” and a consensus target price of $39.00.
Shares of MPLX LP (NASDAQ:MPLX) traded down 3.28% during mid-day trading on Friday, hitting $40.75. 103,654 shares of the company’s stock traded hands. MPLX LP has a one year low of $31.65 and a one year high of $44.97. The stock’s 50-day moving average is $38.85 and its 200-day moving average is $37.0. The company’s market cap is $3.012 billion.
MPLX LP (NASDAQ:MPLX) last announced its earnings results on Thursday, October 31st. The company reported $0.29 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.31 by $0.02. The company had revenue of $123.80 million for the quarter, compared to the consensus estimate of $128.59 million. The company’s quarterly revenue was up 2.2% on a year-over-year basis.
MPLX LP is a fee-based limited partnership formed by Marathon Petroleum Corporation to own, operate, develop and acquire crude oil, refined product and other hydrocarbon-based product pipelines and other midstream assets.
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