Scotiabank Reiterates $44.00 Price Target for Mplx Lp (MPLX)
Mplx Lp (NYSE:MPLX) has been given a $44.00 price target by research analysts at Scotiabank in a research report issued to clients and investors on Saturday. The brokerage presently has a “buy” rating on the pipeline company’s stock. Scotiabank’s price objective points to a potential upside of 22.77% from the stock’s current price.
Other equities research analysts also recently issued research reports about the company. Zacks Investment Research raised Mplx Lp from a “sell” rating to a “hold” rating in a report on Thursday, May 18th. Guggenheim began coverage on Mplx Lp in a report on Thursday. They set a “buy” rating and a $40.00 price target for the company. BidaskClub raised Mplx Lp from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. TheStreet raised Mplx Lp from a “c” rating to a “b-” rating in a report on Friday, April 28th. Finally, Citigroup Inc. raised their price target on Mplx Lp from $44.00 to $45.00 and gave the company a “buy” rating in a report on Monday, April 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $42.08.
Shares of Mplx Lp (NYSE MPLX) traded down 0.80% during trading on Friday, reaching $35.84. 1,392,683 shares of the company were exchanged. The company has a 50 day moving average price of $33.46 and a 200-day moving average price of $35.62. The stock has a market capitalization of $13.43 billion, a price-to-earnings ratio of 73.90 and a beta of 1.34. Mplx Lp has a one year low of $30.09 and a one year high of $39.43.
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 the consensus estimate of $0.19. The company had revenue of $886 million during 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 firm’s revenue for the quarter was up 37.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.33) EPS. Equities analysts predict that Mplx Lp will post $0.89 EPS for the current year.
In related news, CEO Gary R. Heminger purchased 9,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 167,896 shares of the company’s stock, valued at $5,584,220.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Several hedge funds and other institutional investors have recently modified their holdings of MPLX. Tarbox Group Inc. boosted its position in shares of Mplx Lp by 41.8% in the first quarter. Tarbox Group Inc. now owns 3,575 shares of the pipeline company’s stock worth $129,000 after buying an additional 1,053 shares during the last quarter. Hirtle Callaghan & Co LLC bought a new position in shares of Mplx Lp during the first quarter worth approximately $139,000. Cedar Wealth Management LLC boosted its position in shares of Mplx Lp by 17.6% in the second quarter. Cedar Wealth Management LLC now owns 5,490 shares of the pipeline company’s stock worth $183,000 after buying an additional 820 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Mplx Lp during the first quarter worth approximately $198,000. Finally, Private Advisor Group LLC bought a new position in shares of Mplx Lp during the first quarter worth approximately $201,000. Institutional investors own 69.51% of the company’s stock.
About Mplx Lp
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.
Receive News & Ratings for Mplx Lp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mplx Lp and related companies with MarketBeat.com's FREE daily email newsletter.