Mplx Lp (NYSE:MPLX) Given Average Recommendation of “Hold” by Analysts
Shares of Mplx Lp (NYSE:MPLX) have received a consensus rating of “Hold” from the twenty ratings firms that are presently covering the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $36.25.
Several brokerages have recently weighed in on MPLX. Mizuho started coverage on Mplx Lp in a report on Friday, September 30th. They issued a “neutral” rating and a $35.00 price target on the stock. FBR & Co started coverage on Mplx Lp in a report on Friday, September 9th. They set a “market perform” rating and a $35.00 price objective on the stock. Jefferies Group started coverage on Mplx Lp in a report on Tuesday, August 23rd. They set a “hold” rating and a $35.00 price objective on the stock. Zacks Investment Research downgraded Mplx Lp from a “buy” rating to a “hold” rating in a report on Saturday, July 30th. Finally, Barclays PLC started coverage on Mplx Lp in a report on Tuesday, July 19th. They set an “overweight” rating and a $42.00 price objective on the stock.
Mplx Lp (NYSE:MPLX) traded down 0.0009% on Friday, hitting $31.6397. The stock had a trading volume of 675,880 shares. Mplx Lp has a 52-week low of $16.34 and a 52-week high of $45.63. The firm’s market cap is $10.62 billion. The company has a 50-day moving average price of $32.97 and a 200 day moving average price of $32.10.
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Mplx Lp (NYSE:MPLX) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.28 by $0.39. The firm earned $564 million during the quarter, compared to analysts’ expectations of $657.88 million. During the same quarter last year, the firm posted $0.50 EPS. The business’s revenue for the quarter was up 161.1% on a year-over-year basis. Equities analysts forecast that Mplx Lp will post $0.21 earnings per share for the current fiscal year.
In related news, CFO Nancy Buese sold 15,000 shares of the firm’s stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $32.81, for a total value of $492,150.00. Following the completion of the transaction, the chief financial officer now owns 187,779 shares in the company, valued at approximately $6,161,028.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Several institutional investors have recently added to or reduced their stakes in MPLX. BlackRock Group LTD bought a new position in Mplx Lp during the first quarter worth $1,940,000. Conning Inc. raised its position in Mplx Lp by 30.3% in the second quarter. Conning Inc. now owns 112,474 shares of the company’s stock worth $3,783,000 after buying an additional 26,158 shares during the last quarter. Americafirst Capital Management LLC bought a new position in Mplx Lp during the second quarter worth $173,000. Quadrature Capital Ltd bought a new position in Mplx Lp during the first quarter worth $2,279,000. Finally, Williams Jones & Associates LLC raised its position in Mplx Lp by 7.8% in the first quarter. Williams Jones & Associates LLC now owns 110,123 shares of the company’s stock worth $3,270,000 after buying an additional 7,956 shares during the last quarter.
About Mplx Lp
MPLX LP is a United States-based diversified master limited partnership (MLP) company, which owns, operates, develops and acquires midstream energy infrastructure assets. The Company is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids (NGLs); and the gathering, transportation and storage of crude oil and refined petroleum products.
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