Mplx Lp (MPLX) Upgraded by BidaskClub to “Hold”
Mplx Lp (NYSE:MPLX) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a report issued on Tuesday.
Several other brokerages have also recently issued reports on MPLX. Citigroup Inc. upgraded Mplx Lp from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $42.00 to $43.00 in a research report on Wednesday, March 1st. They noted that the move was a valuation call. Jefferies Group LLC restated a “buy” rating and issued a $44.00 price target on shares of Mplx Lp in a research report on Wednesday, April 19th. Zacks Investment Research upgraded Mplx Lp from a “sell” rating to a “hold” rating in a research report on Thursday, May 18th. TheStreet upgraded Mplx Lp from a “c” rating to a “b-” rating in a research report on Friday, April 28th. Finally, Mitsubishi UFJ Financial Group upgraded Mplx Lp from a “neutral” rating to an “overweight” rating and set a $43.00 price target on the stock in a research report on Wednesday, March 1st. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Mplx Lp has an average rating of “Buy” and a consensus price target of $42.10.
Shares of Mplx Lp (MPLX) traded down 1.47% on Tuesday, reaching $32.23. 1,789,964 shares of the company traded hands. Mplx Lp has a 52-week low of $30.09 and a 52-week high of $39.43. The stock has a market cap of $12.08 billion, a price-to-earnings ratio of 66.45 and a beta of 1.34. The stock has a 50 day moving average of $34.09 and a 200 day moving average of $35.51.
Mplx Lp (NYSE:MPLX) last issued its quarterly earnings results on Thursday, April 27th. The pipeline company reported $0.19 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.19. The firm had revenue of $886 million for the quarter, compared to analysts’ expectations of $691.38 million. Mplx Lp had a return on equity of 4.01% and a net margin of 13.85%. The firm’s revenue for the quarter was up 37.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.33) EPS. On average, analysts expect that Mplx Lp will post $0.94 earnings per share for the current year.
In other Mplx Lp news, CEO Gary R. Heminger bought 9,000 shares of the company’s stock in a transaction on Monday, June 12th. The shares were bought at an average price of $33.26 per share, for a total transaction of $299,340.00. Following the transaction, the chief executive officer now owns 167,896 shares of the company’s stock, valued at approximately $5,584,220.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
A number of institutional investors have recently added to or reduced their stakes in the company. Atlantic Trust LLC boosted its position in Mplx Lp by 18.6% in the first quarter. Atlantic Trust LLC now owns 32,863 shares of the pipeline company’s stock valued at $1,186,000 after buying an additional 5,150 shares during the last quarter. Ballentine Partners LLC boosted its position in Mplx Lp by 31.7% in the first quarter. Ballentine Partners LLC now owns 21,690 shares of the pipeline company’s stock valued at $782,000 after buying an additional 5,215 shares during the last quarter. Pointe Capital Management LLC acquired a new position in Mplx Lp during the first quarter valued at about $3,088,000. Proficio Capital Partners LLC boosted its position in Mplx Lp by 20.8% in the first quarter. Proficio Capital Partners LLC now owns 7,531 shares of the pipeline company’s stock valued at $265,000 after buying an additional 1,296 shares during the last quarter. Finally, TPH Asset Management LLC boosted its position in Mplx Lp by 245.9% in the first quarter. TPH Asset Management LLC now owns 255,696 shares of the pipeline company’s stock valued at $9,225,000 after buying an additional 181,780 shares during the last quarter. Institutional investors own 69.06% of the company’s stock.
Mplx Lp Company Profile
MPLX LP is a master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire 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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