Mplx (NYSE:MPLX) Price Target Increased to $50.00 by Analysts at Royal Bank of Canada

by · The Cerbat Gem

Mplx (NYSE:MPLX – Get Free Report) had its price target hoisted by equities researchers at Royal Bank of Canada from $47.00 to $50.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the pipeline company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 12.83% from the company’s previous close.

A number of other analysts have also issued reports on the company. Wells Fargo & Company lifted their target price on Mplx from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. StockNews.com upgraded Mplx from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 10th. Barclays increased their target price on Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, UBS Group lifted their price target on shares of Mplx from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.67.

View Our Latest Report on MPLX

Mplx Stock Down 0.3 %

NYSE MPLX opened at $44.32 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.41. Mplx has a fifty-two week low of $35.06 and a fifty-two week high of $45.24. The business has a 50 day moving average price of $43.31 and a two-hundred day moving average price of $42.17. The stock has a market cap of $45.03 billion, a PE ratio of 11.42, a P/E/G ratio of 1.22 and a beta of 1.37.

Mplx (NYSE:MPLX – Get Free Report) last announced its earnings results on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.17. Mplx had a net margin of 35.95% and a return on equity of 32.68%. The business had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same period in the prior year, the firm earned $0.91 earnings per share. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. As a group, sell-side analysts predict that Mplx will post 4.24 EPS for the current fiscal year.

Institutional Trading of Mplx

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mcdonald Partners LLC grew its position in shares of Mplx by 1.4% during the 2nd quarter. Mcdonald Partners LLC now owns 17,180 shares of the pipeline company’s stock valued at $732,000 after buying an additional 239 shares during the last quarter. Sound Income Strategies LLC grew its holdings in shares of Mplx by 10.4% during the second quarter. Sound Income Strategies LLC now owns 2,992 shares of the pipeline company’s stock valued at $127,000 after purchasing an additional 282 shares during the last quarter. Belfer Management LLC raised its position in shares of Mplx by 4.4% during the 1st quarter. Belfer Management LLC now owns 7,733 shares of the pipeline company’s stock worth $321,000 after purchasing an additional 325 shares during the period. Prossimo Advisors LLC lifted its holdings in shares of Mplx by 6.3% in the 2nd quarter. Prossimo Advisors LLC now owns 6,509 shares of the pipeline company’s stock worth $277,000 after purchasing an additional 386 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in Mplx by 5.9% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 7,505 shares of the pipeline company’s stock valued at $320,000 after purchasing an additional 415 shares during the period. 24.25% of the stock is owned by institutional investors and hedge funds.

Mplx Company Profile

(Get Free Report)

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.

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