Mplx Lp Reaches New 12-Month High at $67.16 (MPLX)
Mplx Lp (NASDAQ:MPLX) reached a new 52-week high during trading on Tuesday , AnalystRatingsNetwork reports. The stock traded as high as $67.16 and last traded at $66.22, with a volume of 22,082 shares trading hands. The stock had previously closed at $64.50.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Mplx Lp in a research note on Wednesday, June 4th. They now have a $64.00 price target on the stock, up previously from $55.00. Separately, 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. Finally, 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Mplx Lp presently has a consensus rating of “Buy” and an average price target of $56.13.
The stock has a 50-day moving average of $59.67 and a 200-day moving average of $50.65. The company has a market cap of $4.867 billion and a P/E ratio of 51.77.
Mplx Lp (NASDAQ:MPLX) last released its earnings data on Thursday, May 1st. The company reported $0.41 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.26 earnings per share. Mplx Lp’s revenue was up 19.7% compared to the same quarter last year. On average, analysts predict that Mplx Lp will post $1.68 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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