Zacks Investment Research upgraded shares of Mplx (NYSE:MPLX) from a hold rating to a buy rating in a research note issued to investors on Saturday. Zacks Investment Research currently has $37.00 target price on the pipeline company’s stock.
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. “
MPLX has been the topic of several other reports. Stifel Nicolaus reaffirmed a buy rating and set a $45.00 price target on shares of Mplx in a research note on Thursday, February 1st. Credit Suisse Group assumed coverage on shares of Mplx in a research note on Thursday, January 4th. They set an outperform rating and a $43.00 price target on the stock. ValuEngine cut shares of Mplx from a hold rating to a sell rating in a research note on Thursday, March 1st. Jefferies Group cut shares of Mplx from a buy rating to a hold rating and set a $38.00 price target on the stock. in a research note on Monday, February 5th. Finally, Morgan Stanley raised shares of Mplx from an equal rating to a weight rating and set a $40.00 price target on the stock in a research note on Friday, March 23rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $41.25.
Mplx (NYSE:MPLX) last posted its earnings results on Thursday, February 1st. The pipeline company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.03). Mplx had a net margin of 17.90% and a return on equity of 6.98%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $937.04 million. During the same quarter last year, the business posted $0.17 earnings per share. The business’s revenue was up 27.9% compared to the same quarter last year. research analysts forecast that Mplx will post 1.93 EPS for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SWS Partners purchased a new position in Mplx in the fourth quarter valued at approximately $149,000. Captrust Financial Advisors purchased a new position in Mplx in the fourth quarter valued at approximately $179,000. Ameritas Investment Partners Inc. purchased a new position in Mplx in the third quarter valued at approximately $193,000. Stuart Chaussee & Associates Inc. purchased a new position in Mplx in the fourth quarter valued at approximately $195,000. Finally, American Century Companies Inc. purchased a new position in Mplx in the fourth quarter valued at approximately $204,000. 31.82% of the stock is currently owned by institutional investors and hedge funds.
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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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