Mplx Lp’s Overweight Rating Reaffirmed at JPMorgan Chase & Co. (MPLX)
Mplx Lp (NASDAQ:MPLX)‘s stock had its “overweight” rating reaffirmed by JPMorgan Chase & Co. in a research note issued on Wednesday. They currently have a $64.00 price target on the stock, up from their previous price target of $55.00. JPMorgan Chase & Co.’s price objective indicates a potential upside of 9.05% from the stock’s previous close.
Mplx Lp (NASDAQ:MPLX) traded up 1.21% during mid-day trading on Wednesday, hitting $59.40. 7,898 shares of the company’s stock traded hands. Mplx Lp has a 52 week low of $34.40 and a 52 week high of $61.74. The stock has a 50-day moving average of $56.87 and a 200-day moving average of $47.53. The company has a market cap of $4.391 billion and a P/E ratio of 47.10.
Mplx Lp (NASDAQ:MPLX) last announced its earnings results on Thursday, May 1st. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. The company had revenue of $137.30 million for the quarter, compared to the consensus estimate of $130.82 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. On average, analysts predict that Mplx Lp will post $1.79 earnings per share for the current fiscal year.
MPLX has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Mplx Lp from a “neutral” rating to an “outperform” rating in a research note on Monday, May 5th. They now have a $57.50 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Mplx Lp in a research note on Friday, May 2nd. They now have a $62.00 price target on the stock. Finally, analysts at Citigroup Inc. raised their price target on shares of Mplx Lp from $42.00 to $54.00 in a research note on Friday, March 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Mplx Lp presently has an average rating of “Buy” and a consensus target price of $56.13.
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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