Mplx (MPLX) Downgraded by Guggenheim

Mplx (NYSE:MPLX) was downgraded by analysts at Guggenheim from a “buy” rating to a “neutral” rating in a research report issued on Monday, Marketbeat Ratings reports.

Several other research firms have also commented on MPLX. Scotiabank restated a “buy” rating and issued a $44.00 price target on shares of Mplx in a report on Wednesday, October 4th. UBS boosted their price target on shares of Mplx from $43.00 to $44.00 and gave the company a “buy” rating in a report on Friday, October 27th. BidaskClub upgraded shares of Mplx from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 31st. Zacks Investment Research lowered shares of Mplx from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $42.00 price target (down previously from $43.00) on shares of Mplx in a report on Tuesday, September 5th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. Mplx presently has a consensus rating of “Buy” and a consensus target price of $41.91.

Shares of Mplx (MPLX) traded up $0.47 on Monday, reaching $36.58. 6,423,438 shares of the company were exchanged, compared to its average volume of 1,456,360. Mplx has a one year low of $30.88 and a one year high of $39.43. The company has a market cap of $15,000.00, a price-to-earnings ratio of 39.68, a price-to-earnings-growth ratio of 4.92 and a beta of 1.37. The company has a quick ratio of 0.48, a current ratio of 0.54 and a debt-to-equity ratio of 0.68.

Mplx (NYSE:MPLX) last posted its quarterly earnings results on Thursday, October 26th. The pipeline company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.27 by $0.02. Mplx had a net margin of 16.79% and a return on equity of 5.87%. The business had revenue of $980.00 million during the quarter, compared to analyst estimates of $965.07 million. During the same quarter in the previous year, the business posted $0.21 EPS. The company’s quarterly revenue was up 16.9% compared to the same quarter last year. equities analysts predict that Mplx will post 1.05 EPS for the current year.

In other news, VP Gregory Scott Floerke sold 2,000 shares of Mplx 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 transaction, the vice president now owns 79,598 shares of the company’s stock, valued at approximately $2,865,528. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 8,000 shares of company stock worth $284,760.

Several institutional investors have recently modified their holdings of the company. Tortoise Capital Advisors L.L.C. grew its position in Mplx by 19.3% during 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 purchasing an additional 3,681,395 shares during the last quarter. Alps Advisors Inc. grew its position in Mplx by 16.8% during the 3rd quarter. Alps Advisors Inc. now owns 23,435,667 shares of the pipeline company’s stock worth $820,483,000 after purchasing an additional 3,379,395 shares during the last quarter. Balyasny Asset Management LLC grew its position in Mplx by 351.2% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,633,092 shares of the pipeline company’s stock worth $54,545,000 after purchasing an additional 1,271,145 shares during the last quarter. JPMorgan Chase & Co. grew its position in Mplx by 20.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,783,189 shares of the pipeline company’s stock worth $201,776,000 after purchasing an additional 999,582 shares during the last quarter. Finally, ING Groep NV grew its position in Mplx by 31.5% during the 3rd quarter. ING Groep NV now owns 3,124,100 shares of the pipeline company’s stock worth $109,375,000 after purchasing an additional 749,100 shares during the last quarter. 64.33% of the stock is currently owned by hedge funds and other institutional investors.

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About Mplx

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)