Mplx (NYSE:MPLX) Stock Rating Lowered by StockNews.com

Mplx (NYSE:MPLX) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Monday.

A number of other analysts have also recently weighed in on MPLX. UBS Group increased their price target on shares of Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Truist Financial upped their price objective on shares of Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Barclays upped their price objective on shares of Mplx from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Wells Fargo & Company upped their price objective on shares of Mplx from $53.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada upped their price objective on shares of Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.89.

Mplx Stock Up 1.5 %

Shares of NYSE:MPLX opened at $51.58 on Monday. The stock has a market cap of $52.55 billion, a P/E ratio of 12.17, a P/E/G ratio of 2.34 and a beta of 1.43. The firm has a fifty day moving average price of $49.09 and a 200 day moving average price of $45.51. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95. Mplx has a 1-year low of $37.04 and a 1-year high of $53.15.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.09 billion. Mplx had a return on equity of 32.70% and a net margin of 36.77%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 EPS. Sell-side analysts predict that Mplx will post 4.18 EPS for the current year.

Insider Activity at Mplx

In other Mplx news, VP Carl Kristopher Hagedorn sold 4,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $47.24, for a total transaction of $188,960.00. Following the sale, the vice president now directly owns 14,750 shares of the company’s stock, valued at $696,790. This trade represents a 21.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Institutional Investors Weigh In On Mplx

Several hedge funds have recently modified their holdings of MPLX. Cedar Wealth Management LLC acquired a new stake in shares of Mplx in the third quarter worth approximately $51,000. Geneos Wealth Management Inc. boosted its position in shares of Mplx by 56.3% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,135 shares of the pipeline company’s stock worth $54,000 after acquiring an additional 409 shares during the last quarter. Crewe Advisors LLC acquired a new stake in shares of Mplx in the fourth quarter worth approximately $98,000. Farther Finance Advisors LLC boosted its position in shares of Mplx by 393.0% in the third quarter. Farther Finance Advisors LLC now owns 3,451 shares of the pipeline company’s stock worth $153,000 after acquiring an additional 2,751 shares during the last quarter. Finally, Archford Capital Strategies LLC acquired a new stake in shares of Mplx in the fourth quarter worth approximately $200,000. 24.25% of the stock is owned by institutional investors and hedge funds.

Mplx Company Profile

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Logistics and Storage (L&S) and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.