Mplx Lp (NYSE:MPLX) Rating Increased to Buy at BidaskClub
Mplx Lp (NYSE:MPLX) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Sunday.
A number of other research analysts also recently issued reports on the company. Zacks Investment Research upgraded Mplx Lp from a “sell” rating to a “hold” rating in a research note on Thursday, May 18th. Jefferies Group LLC restated a “buy” rating and set a $44.00 price target on shares of Mplx Lp in a research note on Wednesday, April 19th. Citigroup Inc. raised their price target on Mplx Lp from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, April 3rd. Finally, TheStreet upgraded Mplx Lp from a “c” rating to a “b-” rating in a research note on Friday, April 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $42.10.
Mplx Lp (NYSE:MPLX) traded up 2.47% during trading on Friday, reaching $35.70. The company’s stock had a trading volume of 860,064 shares. The stock has a market capitalization of $13.38 billion, a PE ratio of 73.61 and a beta of 1.34. Mplx Lp has a 1-year low of $30.09 and a 1-year high of $39.43. The stock has a 50 day moving average price of $33.56 and a 200 day moving average price of $35.46.
Mplx Lp (NYSE:MPLX) last released its quarterly earnings data on Thursday, April 27th. The pipeline company reported $0.19 EPS for the quarter, meeting analysts’ consensus estimates of $0.19. The business had revenue of $886 million for the quarter, compared to the consensus estimate of $691.38 million. Mplx Lp had a return on equity of 4.01% and a net margin of 13.85%. The business’s revenue for the quarter was up 37.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.33) EPS. Analysts anticipate that Mplx Lp will post $0.91 earnings per share for the current fiscal year.
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In related news, CEO Gary R. Heminger bought 9,000 shares of the stock in a transaction on Monday, June 12th. The shares were bought at an average cost of $33.26 per share, for a total transaction of $299,340.00. Following the purchase, the chief executive officer now owns 167,896 shares of the company’s stock, valued at approximately $5,584,220.96. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Several hedge funds and other institutional investors have recently made changes to their positions in MPLX. Waldron LP bought a new position in shares of Mplx Lp during the first quarter valued at $220,000. Hollencrest Securities LLC bought a new position in shares of Mplx Lp during the first quarter valued at $480,000. Naples Global Advisors LLC increased its position in shares of Mplx Lp by 14.4% in the first quarter. Naples Global Advisors LLC now owns 10,300 shares of the pipeline company’s stock valued at $372,000 after buying an additional 1,300 shares during the period. Bollard Group LLC increased its position in shares of Mplx Lp by 5.7% in the first quarter. Bollard Group LLC now owns 47,713 shares of the pipeline company’s stock valued at $1,721,000 after buying an additional 2,562 shares during the period. Finally, Spirit of America Management Corp NY increased its position in shares of Mplx Lp by 5.4% in the first quarter. Spirit of America Management Corp NY now owns 682,079 shares of the pipeline company’s stock valued at $24,609,000 after buying an additional 34,900 shares during the period. 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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