Mplx Lp (MPLX) Given Consensus Rating of “Buy” by Brokerages
Mplx Lp (NYSE:MPLX) has been assigned a consensus recommendation of “Buy” from the seventeen analysts that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $42.20.
MPLX has been the topic of several recent analyst reports. BidaskClub downgraded shares of Mplx Lp from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. Stifel Nicolaus reaffirmed a “buy” rating and set a $42.00 price objective (down from $43.00) on shares of Mplx Lp in a report on Tuesday, September 5th. Zacks Investment Research downgraded shares of Mplx Lp from a “hold” rating to a “strong sell” rating in a report on Saturday, July 15th. Scotiabank set a $44.00 price objective on shares of Mplx Lp and gave the company a “buy” rating in a report on Saturday, July 22nd. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of Mplx Lp in a report on Friday, July 28th.
In other news, VP C Corwin Bromley sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $34.65, for a total value of $173,250.00. Following the transaction, the vice president now directly owns 123,705 shares of the company’s stock, valued at $4,286,378.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 8,000 shares of company stock worth $276,910.
Several large investors have recently bought and sold shares of MPLX. Waldron LP purchased a new position in shares of Mplx Lp in the first quarter worth about $220,000. Bank of New York Mellon Corp lifted its stake in shares of Mplx Lp by 45.4% in the first quarter. Bank of New York Mellon Corp now owns 171,047 shares of the pipeline company’s stock worth $6,172,000 after buying an additional 53,438 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Mplx Lp in the first quarter worth about $198,000. American International Group Inc. purchased a new position in shares of Mplx Lp in the first quarter worth about $567,000. Finally, Alliancebernstein L.P. lifted its stake in shares of Mplx Lp by 40.5% in the first quarter. Alliancebernstein L.P. now owns 65,593 shares of the pipeline company’s stock worth $2,367,000 after buying an additional 18,901 shares in the last quarter. 63.16% of the stock is currently owned by hedge funds and other institutional investors.
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Mplx Lp (NYSE MPLX) traded down 0.37% on Wednesday, hitting $34.93. 68,249 shares of the company were exchanged. The company has a market capitalization of $14.22 billion, a P/E ratio of 39.25 and a beta of 1.36. Mplx Lp has a 52 week low of $30.09 and a 52 week high of $39.43. The firm’s 50 day moving average is $34.55 and its 200 day moving average is $34.65.
Mplx Lp (NYSE:MPLX) last posted its quarterly earnings data on Thursday, July 27th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.10. The business had revenue of $916.00 million for the quarter, compared to the consensus estimate of $884.70 million. Mplx Lp had a net margin of 19.07% and a return on equity of 6.13%. The company’s revenue was up 31.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.11) earnings per share. On average, equities research analysts forecast that Mplx Lp will post $0.98 earnings per share for the current fiscal year.
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.
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