Mplx (NYSE:MPLX) Price Target Lowered to $34.00 at Raymond James

Mplx (NYSE:MPLX) had its price target cut by equities research analysts at Raymond James from $38.00 to $34.00 in a research report issued on Friday, BenzingaRatingsTable reports. The firm presently has an “outperform” rating on the pipeline company’s stock. Raymond James’ target price indicates a potential upside of 17.77% from the company’s current price.

MPLX has been the topic of a number of other reports. Bank of America upgraded Mplx from a “neutral” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Tuesday, June 11th. Zacks Investment Research downgraded Mplx from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. BMO Capital Markets initiated coverage on Mplx in a research report on Monday, June 10th. They issued a “market perform” rating and a $35.00 target price on the stock. ValuEngine downgraded Mplx from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 24th. Finally, Wells Fargo & Co boosted their target price on Mplx from $37.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $37.80.

NYSE:MPLX opened at $28.87 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.93 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $23.31 billion, a P/E ratio of 12.76 and a beta of 1.13. Mplx has a 12 month low of $28.22 and a 12 month high of $39.01. The stock has a 50-day moving average price of $31.53.

Mplx (NYSE:MPLX) last posted its earnings results on Thursday, August 1st. The pipeline company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Mplx had a return on equity of 27.44% and a net margin of 28.57%. Mplx’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 earnings per share. Equities research analysts predict that Mplx will post 2.83 earnings per share for the current year.

Hedge funds have recently modified their holdings of the business. Comerica Securities Inc. grew its stake in shares of Mplx by 125.7% during the 4th quarter. Comerica Securities Inc. now owns 13,788 shares of the pipeline company’s stock worth $418,000 after acquiring an additional 7,678 shares in the last quarter. Northern Trust Corp grew its stake in shares of Mplx by 1.1% during the 4th quarter. Northern Trust Corp now owns 467,729 shares of the pipeline company’s stock worth $14,172,000 after acquiring an additional 5,037 shares in the last quarter. Belpointe Asset Management LLC grew its stake in shares of Mplx by 16.7% during the 4th quarter. Belpointe Asset Management LLC now owns 3,501 shares of the pipeline company’s stock worth $106,000 after acquiring an additional 500 shares in the last quarter. American Century Companies Inc. bought a new position in shares of Mplx during the 4th quarter worth approximately $283,000. Finally, Legacy Advisors LLC bought a new position in shares of Mplx during the 1st quarter worth approximately $44,000. Institutional investors and hedge funds own 30.66% of the company’s stock.

Mplx Company Profile

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. The company also provides fuels distribution services. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; and transportation, storage, and distribution of crude oil and refined petroleum products.

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Analyst Recommendations for Mplx (NYSE:MPLX)

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