Mplx (NYSE:MPLX) was downgraded by equities research analysts at Jefferies Group from a “buy” rating to a “hold” rating in a report released on Monday, MarketBeat.com reports. They currently have a $38.00 target price on the pipeline company’s stock. Jefferies Group’s price objective indicates a potential upside of 6.77% from the company’s previous close.
A number of other brokerages also recently weighed in on MPLX. Zacks Investment Research downgraded shares of Mplx from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Guggenheim cut shares of Mplx from a “buy” rating to a “neutral” rating and set a $36.00 price target on the stock. in a report on Monday, December 18th. Stifel Nicolaus cut their price target on shares of Mplx from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, October 27th. Barclays reiterated a “buy” rating and set a $39.00 price target on shares of Mplx in a report on Thursday, October 19th. Finally, BidaskClub upgraded shares of Mplx from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. Mplx has a consensus rating of “Hold” and a consensus target price of $41.91.
Shares of Mplx (NYSE:MPLX) traded down $0.77 during midday trading on Monday, hitting $35.59. 1,807,496 shares of the company’s stock were exchanged, compared to its average volume of 2,296,558. Mplx has a fifty-two week low of $30.88 and a fifty-two week high of $39.43. The company has a market capitalization of $14,780.00, a P/E ratio of 39.11, a price-to-earnings-growth ratio of 2.89 and a beta of 1.32. The company has a quick ratio of 0.48, a current ratio of 0.54 and a debt-to-equity ratio of 0.68.
In related news, VP Gregory Scott Floerke sold 2,000 shares of the firm’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 in the company, valued at $2,865,528. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 8,000 shares of company stock worth $284,760.
Hedge funds have recently modified their holdings of the stock. Saratoga Research & Investment Management purchased a new stake in Mplx in the third quarter worth approximately $192,000. Stuart Chaussee & Associates Inc. purchased a new stake in Mplx in the fourth quarter worth approximately $195,000. Ameritas Investment Partners Inc. purchased a new stake in Mplx in the third quarter worth approximately $193,000. Tower Research Capital LLC TRC purchased a new stake in Mplx in the second quarter worth approximately $191,000. Finally, American Century Companies Inc. purchased a new stake in Mplx in the fourth quarter worth approximately $204,000. Institutional investors own 63.96% of the company’s stock.
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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.
