Mplx Lp (MPLX) Receives Consensus Recommendation of “Buy” from Brokerages

Mplx Lp (NYSE:MPLX) has earned an average recommendation of “Buy” from the sixteen brokerages that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $42.00.

Several analysts have commented on MPLX shares. Royal Bank of Canada reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Mplx in a research report on Wednesday, November 15th. BidaskClub lowered shares of Mplx from a “sell” rating to a “strong sell” rating in a research report on Friday, October 13th. UBS Group lifted their price objective on shares of Mplx from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Mizuho reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Mplx in a research report on Friday, October 20th. Finally, Scotiabank reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Mplx in a research report on Wednesday, October 4th.

In other news, VP Gregory Scott Floerke sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $36.00, for a total value of $72,000.00. Following the sale, the vice president now owns 79,598 shares of the company’s stock, valued at $2,865,528. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last three months, insiders sold 8,000 shares of company stock worth $284,760.

A number of large investors have recently modified their holdings of the stock. Tortoise Capital Advisors L.L.C. grew its stake in Mplx by 19.3% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 22,787,043 shares of the pipeline company’s stock worth $797,774,000 after buying an additional 3,681,395 shares in the last quarter. Alps Advisors Inc. grew its stake in Mplx by 16.8% in the 3rd quarter. Alps Advisors Inc. now owns 23,435,667 shares of the pipeline company’s stock worth $820,483,000 after buying an additional 3,379,395 shares in the last quarter. Balyasny Asset Management LLC grew its stake in Mplx by 351.2% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,633,092 shares of the pipeline company’s stock worth $54,545,000 after buying an additional 1,271,145 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Mplx by 20.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,783,189 shares of the pipeline company’s stock worth $201,776,000 after buying an additional 999,582 shares in the last quarter. Finally, ING Groep NV grew its stake in Mplx by 31.5% in the 3rd quarter. ING Groep NV now owns 3,124,100 shares of the pipeline company’s stock worth $109,375,000 after buying an additional 749,100 shares in the last quarter. 64.27% of the stock is owned by institutional investors.

Shares of Mplx (NYSE MPLX) opened at $37.67 on Friday. The company has a market cap of $15,667.87, a PE ratio of 41.40, a price-to-earnings-growth ratio of 3.04 and a beta of 1.37. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.54 and a quick ratio of 0.48. Mplx has a 12-month low of $30.88 and a 12-month high of $39.43.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Thursday, October 26th. The pipeline company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. The business had revenue of $980.00 million for the quarter, compared to analyst estimates of $965.07 million. Mplx had a net margin of 16.79% and a return on equity of 5.87%. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 earnings per share. equities analysts forecast that Mplx will post 1.08 EPS for the current year.

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Mplx 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 (NYSE:MPLX)

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