Mplx Lp (MPLX) Given a $35.00 Price Target at Jefferies Group
Mplx Lp (NYSE:MPLX) has been assigned a $35.00 price target by research analysts at Jefferies Group in a research report issued on Saturday. The brokerage presently has a a “hold” rating on the stock. Jefferies Group’s price target would suggest a potential upside of 14.08% from the stock’s previous close.
A number of other research firms have also issued reports on MPLX. FBR & Co assumed coverage on shares of Mplx Lp in a report on Friday, September 9th. They set a “market perform” rating and a $35.00 price target on the stock. Zacks Investment Research upgraded shares of Mplx Lp from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Wednesday, July 27th. Barclays PLC started coverage on shares of Mplx Lp in a research report on Tuesday, July 19th. They set an “overweight” rating and a $42.00 price objective on the stock. Finally, Mizuho started coverage on shares of Mplx Lp in a research report on Friday, September 30th. They set a “neutral” rating and a $35.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $36.11.
Shares of Mplx Lp (NYSE:MPLX) traded up 1.22% during trading on Friday, hitting $30.68. 1,263,122 shares of the stock were exchanged. The stock’s market cap is $10.30 billion. The stock’s 50 day moving average is $32.52 and its 200-day moving average is $32.20. Mplx Lp has a 12-month low of $16.34 and a 12-month high of $45.63.
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Mplx Lp (NYSE:MPLX) last released its quarterly earnings results on Thursday, July 28th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.39. The firm had revenue of $564 million for the quarter, compared to analyst estimates of $657.88 million. During the same quarter in the prior year, the company earned $0.50 EPS. Mplx Lp’s revenue for the quarter was up 161.1% compared to the same quarter last year. Equities research analysts anticipate that Mplx Lp will post $0.21 EPS for the current year.
In related news, COO Gregory Scott Floerke sold 1,000 shares of the company’s stock in a transaction on Wednesday, October 12th. The shares were sold at an average price of $31.00, for a total transaction of $31,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Nancy Buese sold 15,000 shares of the company’s stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $32.81, for a total transaction of $492,150.00. Following the transaction, the chief financial officer now owns 187,779 shares of the company’s stock, valued at $6,161,028.99. The disclosure for this sale can be found here.
Institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its position in Mplx Lp by 79.3% in the first quarter. Goldman Sachs Group Inc. now owns 19,503,329 shares of the company’s stock valued at $579,054,000 after buying an additional 8,625,949 shares during the last quarter. Alps Advisors Inc. bought a new position in Mplx Lp during the fourth quarter valued at approximately $661,232,000. Harvest Fund Advisors LLC boosted its position in Mplx Lp by 2.6% in the second quarter. Harvest Fund Advisors LLC now owns 13,889,959 shares of the company’s stock valued at $467,119,000 after buying an additional 355,807 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its position in Mplx Lp by 2,565.6% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,146,305 shares of the company’s stock valued at $517,028,000 after buying an additional 12,653,117 shares during the last quarter. Finally, Clearbridge Investments LLC bought a new position in Mplx Lp during the fourth quarter valued at approximately $323,602,000.
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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