Mplx Lp (NYSE:MPLX) Earns Buy Rating from Analysts at Guggenheim
Research analysts at Guggenheim started coverage on shares of Mplx Lp (NYSE:MPLX) in a note issued to investors on Thursday. The firm set a “buy” rating and a $40.00 price target on the pipeline company’s stock. Guggenheim’s price target points to a potential upside of 10.59% from the company’s previous close.
A number of other research analysts have also recently commented on the company. BidaskClub upgraded Mplx Lp from a “hold” rating to a “buy” rating in a research report on Sunday. Zacks Investment Research cut Mplx Lp from a “hold” rating to a “strong sell” rating in a research report on Saturday, July 15th. TheStreet upgraded Mplx Lp from a “c” rating to a “b-” rating in a research report on Friday, April 28th. 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. Finally, 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 report on Monday, April 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Mplx Lp currently has a consensus rating of “Buy” and a consensus price target of $41.91.
Shares of Mplx Lp (NYSE:MPLX) traded up 0.926% during midday trading on Thursday, reaching $36.505. 139,338 shares of the company’s stock traded hands. The stock has a market cap of $13.68 billion, a price-to-earnings ratio of 75.268 and a beta of 1.34. The stock has a 50 day moving average of $33.38 and a 200-day moving average of $35.61. Mplx Lp has a 52-week low of $30.09 and a 52-week high of $39.43.
Mplx Lp (NYSE:MPLX) last posted its earnings results on Thursday, April 27th. The pipeline company reported $0.19 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.19. Mplx Lp had a return on equity of 4.01% and a net margin of 13.85%. The company had revenue of $886 million during the quarter, compared to the consensus estimate of $691.38 million. During the same quarter last year, the firm earned ($0.33) earnings per share. The company’s revenue was up 37.4% on a year-over-year basis. On average, equities research analysts expect that Mplx Lp will post $0.89 EPS for the current year.
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In other Mplx Lp news, CEO Gary R. Heminger bought 9,000 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were purchased at an average price of $33.26 per share, for a total transaction of $299,340.00. Following the completion of the transaction, the chief executive officer now directly owns 167,896 shares in the company, valued at approximately $5,584,220.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Hedge funds have recently added to or reduced their stakes in the company. Linscomb & Williams Inc. boosted its stake in Mplx Lp by 0.3% in the first quarter. Linscomb & Williams Inc. now owns 13,990 shares of the pipeline company’s stock valued at $505,000 after buying an additional 41 shares during the period. Signaturefd LLC boosted its stake in Mplx Lp by 4.1% in the first quarter. Signaturefd LLC now owns 6,895 shares of the pipeline company’s stock valued at $249,000 after buying an additional 270 shares during the period. Keybank National Association OH boosted its stake in Mplx Lp by 3.3% in the first quarter. Keybank National Association OH now owns 8,735 shares of the pipeline company’s stock valued at $315,000 after buying an additional 275 shares during the period. Pinnacle Associates Ltd. boosted its stake in Mplx Lp by 5.8% in the first quarter. Pinnacle Associates Ltd. now owns 6,170 shares of the pipeline company’s stock valued at $223,000 after buying an additional 337 shares during the period. Finally, Suntrust Banks Inc. boosted its stake in Mplx Lp by 4.9% in the first quarter. Suntrust Banks Inc. now owns 8,016 shares of the pipeline company’s stock valued at $289,000 after buying an additional 378 shares during the period. Institutional investors own 69.51% 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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