MPLX LP Rating Lowered to Underperform at Bank of America Corp. (MPLX)
MPLX LP (NASDAQ:MPLX) was downgraded by equities research analysts at Bank of America Corp. to an “underperform” rating in a research note issued to investors on Friday, AmericanBankingNews.com reports.
Shares of MPLX LP (NASDAQ:MPLX) opened at 42.13 on Friday. MPLX LP has a 52 week low of $31.65 and a 52 week high of $44.97. The stock has a 50-day moving average of $38.85 and a 200-day moving average of $37.0. The company’s market cap is $3.114 billion.
MPLX LP (NASDAQ:MPLX) last issued its quarterly earnings data 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 has been the subject of a number of other recent research reports. 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. 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. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $39.00.
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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