MPLX LP (NYSE:MPLX) Receives $57.50 Consensus PT from Analysts

MPLX LP (NYSE:MPLX) has been assigned an average rating of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $57.50.

MPLX has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their target price on MPLX from $60.00 to $59.00 and set an “overweight” rating for the company in a report on Tuesday, September 23rd. Stifel Nicolaus lifted their price objective on MPLX from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, August 14th. Weiss Ratings cut MPLX from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, October 8th. Wall Street Zen cut MPLX from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, Morgan Stanley lifted their price objective on MPLX from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 26th.

Institutional Investors Weigh In On MPLX

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of MPLX during the 3rd quarter worth about $990,000. Perigon Wealth Management LLC grew its stake in shares of MPLX by 6.0% in the 3rd quarter. Perigon Wealth Management LLC now owns 8,831 shares of the pipeline company’s stock valued at $441,000 after purchasing an additional 500 shares during the last quarter. Apollon Wealth Management LLC grew its stake in shares of MPLX by 1.3% in the 3rd quarter. Apollon Wealth Management LLC now owns 34,107 shares of the pipeline company’s stock valued at $1,704,000 after purchasing an additional 425 shares during the last quarter. Carnegie Investment Counsel grew its stake in shares of MPLX by 9.7% in the 3rd quarter. Carnegie Investment Counsel now owns 9,816 shares of the pipeline company’s stock valued at $490,000 after purchasing an additional 868 shares during the last quarter. Finally, CWM LLC grew its stake in shares of MPLX by 194.5% in the 3rd quarter. CWM LLC now owns 5,039 shares of the pipeline company’s stock valued at $252,000 after purchasing an additional 3,328 shares during the last quarter. Institutional investors and hedge funds own 24.25% of the company’s stock.

MPLX Stock Performance

NYSE MPLX opened at $49.01 on Friday. The stock has a market cap of $49.94 billion, a PE ratio of 11.64, a P/E/G ratio of 1.33 and a beta of 0.68. The company has a current ratio of 1.03, a quick ratio of 0.97 and a debt-to-equity ratio of 1.40. MPLX has a twelve month low of $43.54 and a twelve month high of $54.87. The stock has a fifty day simple moving average of $50.08 and a 200-day simple moving average of $50.51.

MPLX (NYSE:MPLX) last released its quarterly earnings results on Tuesday, August 5th. The pipeline company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.05). MPLX had a return on equity of 30.95% and a net margin of 35.44%.The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the prior year, the company posted $1.15 earnings per share. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. Equities analysts anticipate that MPLX will post 4.41 earnings per share for the current year.

MPLX Company Profile

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Crude Oil and Products Logistics and Natural Gas and NGL Services segments. The Crude Oil and Products Logistics segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.