Zacks Investment Research Lowers Mplx (MPLX) to Hold

Mplx (NYSE:MPLX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.

According to Zacks, “MPLX LP is a fee-based limited partnership formed to own, operate, develop and acquire crude oil, refined product and other hydrocarbon-based product pipelines and other midstream assets. The Company’s assets consist of a network of common carrier crude oil and product pipeline systems and associated storage assets in the Midwest and Gulf Coast regions of the United States. MPLX LP is based in Findlay, Ohio. “

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A number of other brokerages have also recently weighed in on MPLX. Barclays cut shares of Mplx from an “overweight” rating to an “equal weight” rating and set a $39.00 price objective for the company. in a report on Wednesday, January 17th. ValuEngine cut shares of Mplx from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Guggenheim cut shares of Mplx from a “buy” rating to a “neutral” rating and set a $36.00 price objective for the company. in a report on Monday, December 18th. Citigroup restated a “buy” rating and issued a $46.00 price objective on shares of Mplx in a report on Friday, February 2nd. Finally, Bank of America assumed coverage on shares of Mplx in a report on Tuesday, January 9th. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $41.25.

Shares of MPLX opened at $32.31 on Friday. Mplx has a 1-year low of $30.88 and a 1-year high of $39.38. The stock has a market cap of $25,646.06, a price-to-earnings ratio of 30.77, a P/E/G ratio of 2.98 and a beta of 1.26. The company has a quick ratio of 0.38, a current ratio of 0.43 and a debt-to-equity ratio of 0.70.

Mplx (NYSE:MPLX) last announced its quarterly earnings results on Thursday, February 1st. The pipeline company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.03). Mplx had a net margin of 17.90% and a return on equity of 6.98%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $937.04 million. During the same quarter in the prior year, the business earned $0.17 earnings per share. Mplx’s revenue was up 27.9% on a year-over-year basis. equities research analysts predict that Mplx will post 1.93 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the stock. Advisor Group Inc. lifted its stake in Mplx by 24.7% in the fourth quarter. Advisor Group Inc. now owns 7,135 shares of the pipeline company’s stock worth $253,000 after acquiring an additional 1,411 shares during the last quarter. Groesbeck Investment Management Corp NJ lifted its stake in Mplx by 5.5% in the fourth quarter. Groesbeck Investment Management Corp NJ now owns 35,384 shares of the pipeline company’s stock worth $1,255,000 after acquiring an additional 1,830 shares during the last quarter. Bamco Inc. NY lifted its stake in Mplx by 9.6% in the fourth quarter. Bamco Inc. NY now owns 27,300 shares of the pipeline company’s stock worth $968,000 after acquiring an additional 2,400 shares during the last quarter. M&T Bank Corp lifted its stake in Mplx by 5.7% in the fourth quarter. M&T Bank Corp now owns 52,024 shares of the pipeline company’s stock worth $1,845,000 after acquiring an additional 2,823 shares during the last quarter. Finally, Stephens Inc. AR lifted its stake in Mplx by 7.5% in the fourth quarter. Stephens Inc. AR now owns 50,608 shares of the pipeline company’s stock worth $1,795,000 after acquiring an additional 3,535 shares during the last quarter. Institutional investors own 31.82% of the company’s stock.

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Mplx Company Profile

MPLX LP owns, operates, develops, and acquires midstream energy infrastructure assets. It operates in two segments, Logistics and Storage, and Gathering and Processing segments. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids (NGLs); and gathering, transportation, and storage of crude oil and refined petroleum products.

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Analyst Recommendations for Mplx (NYSE:MPLX)

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