Mplx (NYSE:MPLX) Upgraded to “Strong-Buy” at Truist Financial

Mplx (NYSE:MPLX) was upgraded by research analysts at Truist Financial to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Mplx from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 10th. Wells Fargo & Company lifted their price target on Mplx from $59.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, March 13th. Citigroup boosted their price target on Mplx from $54.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Wall Street Zen raised Mplx from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Weiss Ratings reiterated a “buy (a-)” rating on shares of Mplx in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Mplx currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.56.

Mplx Stock Performance

Shares of Mplx stock opened at $59.19 on Monday. The company’s 50 day moving average price is $57.12 and its two-hundred day moving average price is $53.80. The firm has a market capitalization of $60.08 billion, a P/E ratio of 12.28, a P/E/G ratio of 5.35 and a beta of 0.56. Mplx has a fifty-two week low of $44.60 and a fifty-two week high of $59.98. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.23 and a quick ratio of 1.18.

Mplx (NYSE:MPLX) last announced its quarterly earnings results on Tuesday, February 3rd. The pipeline company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.07. Mplx had a net margin of 37.79% and a return on equity of 34.37%. The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $3.23 billion. During the same period in the prior year, the business earned $1.07 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, equities analysts forecast that Mplx will post 4.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mplx

A number of institutional investors have recently made changes to their positions in MPLX. Foresight Global Investors Inc. acquired a new stake in shares of Mplx in the fourth quarter valued at about $452,000. World Investment Advisors raised its position in shares of Mplx by 36.5% during the fourth quarter. World Investment Advisors now owns 18,045 shares of the pipeline company’s stock worth $963,000 after acquiring an additional 4,822 shares during the last quarter. Wick Capital Partners LLC acquired a new position in shares of Mplx in the fourth quarter worth approximately $269,000. Virtu Financial LLC acquired a new position in shares of Mplx in the fourth quarter worth approximately $1,085,000. Finally, Corient Private Wealth LLC boosted its holdings in Mplx by 98.9% in the fourth quarter. Corient Private Wealth LLC now owns 559,598 shares of the pipeline company’s stock valued at $29,698,000 after acquiring an additional 278,263 shares during the last quarter. Institutional investors own 24.25% of the company’s stock.

Mplx Company Profile

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.