Mplx Lp (NYSE:MPLX) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Tuesday.
Several other equities research analysts have also recently weighed in on the company. Scotiabank set a $44.00 target price on Mplx Lp and gave the stock a “buy” rating in a report on Saturday, July 22nd. Guggenheim assumed coverage on Mplx Lp in a report on Thursday, July 20th. They issued a “buy” rating and a $40.00 target price for the company. Zacks Investment Research cut Mplx Lp from a “hold” rating to a “strong sell” rating in a research note on Saturday, July 15th. TheStreet upgraded Mplx Lp from a “c” rating to a “b-” rating in a research note on Friday, April 28th. Finally, Jefferies Group LLC restated a “buy” rating and set a $44.00 price objective on shares of Mplx Lp in a research note on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Mplx Lp currently has a consensus rating of “Buy” and a consensus price target of $42.08.
Shares of Mplx Lp (NYSE MPLX) traded up 0.75% during midday trading on Tuesday, hitting $36.51. The stock had a trading volume of 572,790 shares. Mplx Lp has a 12 month low of $30.09 and a 12 month high of $39.43. The firm has a market cap of $13.68 billion, a price-to-earnings ratio of 75.28 and a beta of 1.34. The stock’s 50 day moving average price is $33.79 and its 200 day moving average price is $35.63.
Mplx Lp (NYSE:MPLX) last issued its earnings results on Thursday, July 27th. The pipeline company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.10. Mplx Lp had a return on equity of 4.01% and a net margin of 13.85%. The business had revenue of $916 million during the quarter, compared to analysts’ expectations of $884.70 million. During the same period in the prior year, the business earned ($0.11) EPS. The business’s revenue for the quarter was up 31.2% compared to the same quarter last year. On average, equities analysts forecast that Mplx Lp will post $0.87 EPS for the current fiscal year.
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In other news, CEO Gary R. Heminger acquired 9,000 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were acquired at an average cost of $33.26 per share, with a total value of $299,340.00. Following the completion of the acquisition, the chief executive officer now owns 167,896 shares of the company’s stock, valued at $5,584,220.96. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.
A number of hedge funds have recently bought and sold shares of MPLX. Comerica Bank raised its stake in Mplx Lp by 14.5% in the fourth quarter. Comerica Bank now owns 10,001 shares of the pipeline company’s stock valued at $357,000 after buying an additional 1,263 shares during the period. Quadrature Capital Ltd bought a new stake in Mplx Lp during the fourth quarter valued at approximately $3,952,000. Brookfield Asset Management Inc. raised its stake in Mplx Lp by 25.9% in the fourth quarter. Brookfield Asset Management Inc. now owns 1,308,697 shares of the pipeline company’s stock valued at $45,307,000 after buying an additional 269,060 shares during the period. HITE Hedge Asset Management LLC raised its stake in Mplx Lp by 181.2% in the fourth quarter. HITE Hedge Asset Management LLC now owns 181,560 shares of the pipeline company’s stock valued at $6,286,000 after buying an additional 116,987 shares during the period. Finally, Catawba Capital Management VA raised its stake in Mplx Lp by 2.5% in the first quarter. Catawba Capital Management VA now owns 27,085 shares of the pipeline company’s stock valued at $977,000 after buying an additional 662 shares during the period. 69.52% of the stock is currently owned by hedge funds and other institutional investors.
About Mplx Lp
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.
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