Barclays Upgrades MPLX LP to Overweight (MPLX)
MPLX LP (NASDAQ:MPLX) was upgraded by investment analysts at Barclays to an “overweight” rating in a note issued to investors on Tuesday, AnalystRatingsNetwork reports.
A number of other analysts have also recently weighed in on MPLX. Analysts at Merrill Lynch downgraded shares of MPLX LP to an “underperform” rating in a research note to investors on Friday, January 3rd. Separately, 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, January 3rd. Finally, 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. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. MPLX LP has a consensus rating of “Hold” and a consensus price target of $39.00.
Shares of MPLX LP (NASDAQ:MPLX) opened at 41.00 on Tuesday. 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 $39.51 and a 200-day moving average of $37.22. The company’s market cap is $3.030 billion.
MPLX LP (NASDAQ:MPLX) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.29 earnings per share for the quarter, missing the analysts’ 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. MPLX LP’s revenue was up 2.2% compared to the same quarter last year. On average, analysts predict that MPLX LP will post $1.04 earnings per share for the current fiscal year.
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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