Mplx Lp (NYSE:MPLX)‘s stock had its “buy” rating reaffirmed by investment analysts at Scotiabank in a research report issued on Wednesday. They currently have a $44.00 price target on the pipeline company’s stock. Scotiabank’s target price points to a potential upside of 23.80% from the company’s current price.

Several other research analysts have also recently commented on the stock. BidaskClub upgraded shares of Mplx Lp from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. Jefferies Group LLC decreased their target price on shares of Mplx Lp from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Monday, August 28th. Guggenheim started coverage on shares of Mplx Lp in a research note on Thursday, July 20th. They issued a “buy” rating and a $40.00 price target on the stock. Royal Bank Of Canada reiterated a “buy” rating on shares of Mplx Lp in a research note on Friday, July 28th. Finally, Zacks Investment Research cut shares of Mplx Lp from a “hold” rating to a “strong sell” rating in a research report on Saturday, July 15th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Mplx Lp presently has a consensus rating of “Buy” and an average price target of $42.25.

Shares of Mplx Lp (MPLX) traded up 0.28% on Wednesday, hitting $35.54. The company had a trading volume of 649,004 shares. The firm has a market capitalization of $13.81 billion, a P/E ratio of 42.46 and a beta of 1.36. The firm has a 50 day moving average of $34.17 and a 200-day moving average of $34.65. Mplx Lp has a 12-month low of $30.09 and a 12-month high of $39.43.

Mplx Lp (NYSE:MPLX) last issued its quarterly earnings results on Thursday, July 27th. The pipeline company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.10. The company had revenue of $916.00 million during the quarter, compared to analysts’ expectations of $884.70 million. Mplx Lp had a net margin of 19.07% and a return on equity of 6.13%. The business’s quarterly revenue was up 31.2% on a year-over-year basis. During the same period last year, the business earned ($0.11) EPS. On average, equities analysts predict that Mplx Lp will post $0.98 EPS for the current year.

COPYRIGHT VIOLATION WARNING: This story was published by American Banking News and is the property of of American Banking News. If you are accessing this story on another website, it was copied illegally and republished in violation of US & international copyright law. The original version of this story can be read at https://www.americanbankingnews.com/2017/10/04/mplx-lp-mplx-given-buy-rating-at-scotiabank.html.

In related news, VP C Corwin Bromley sold 5,000 shares of Mplx Lp stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $34.65, for a total transaction of $173,250.00. Following the completion of the transaction, the vice president now owns 123,705 shares in the company, valued at $4,286,378.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 8,000 shares of company stock valued at $276,910 over the last quarter.

A number of institutional investors have recently made changes to their positions in the business. Optimum Investment Advisors boosted its position in Mplx Lp by 0.3% during the second quarter. Optimum Investment Advisors now owns 7,654 shares of the pipeline company’s stock worth $256,000 after purchasing an additional 21 shares during the period. CNH Partners LLC increased its holdings in shares of Mplx Lp by 0.4% in the second quarter. CNH Partners LLC now owns 23,115 shares of the pipeline company’s stock valued at $772,000 after purchasing an additional 100 shares during the last quarter. M&T Bank Corp increased its holdings in shares of Mplx Lp by 0.3% in the second quarter. M&T Bank Corp now owns 59,573 shares of the pipeline company’s stock valued at $1,990,000 after purchasing an additional 166 shares during the last quarter. Advisory Services Network LLC increased its holdings in shares of Mplx Lp by 2.3% in the second quarter. Advisory Services Network LLC now owns 9,363 shares of the pipeline company’s stock valued at $313,000 after purchasing an additional 213 shares during the last quarter. Finally, Keybank National Association OH increased its holdings in shares of Mplx Lp by 2.8% in the second quarter. Keybank National Association OH now owns 8,980 shares of the pipeline company’s stock valued at $300,000 after purchasing an additional 245 shares during the last quarter. 63.16% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Mplx Lp (NYSE:MPLX)

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.