Zacks Investment Research Lowers Mplx (MPLX) to Hold

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

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. “

A number of other analysts have also recently issued reports on MPLX. Bank of America upped their target price on Mplx from $41.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, November 2nd. Citigroup decreased their target price on Mplx from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, November 29th. Barclays started coverage on Mplx in a research report on Thursday, December 13th. They issued an “overweight” rating and a $40.00 target price for the company. ValuEngine raised Mplx from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. Finally, Evercore ISI assumed coverage on Mplx in a research report on Tuesday, February 5th. They set an “outperform” rating for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. Mplx currently has an average rating of “Buy” and a consensus target price of $40.50.

Shares of NYSE MPLX opened at $33.95 on Tuesday. The stock has a market capitalization of $26.45 billion, a P/E ratio of 14.83, a PEG ratio of 2.14 and a beta of 1.34. The company has a quick ratio of 0.70, a current ratio of 0.77 and a debt-to-equity ratio of 1.85. Mplx has a 52-week low of $28.32 and a 52-week high of $39.01.

Mplx (NYSE:MPLX) last announced its earnings results on Thursday, February 7th. The pipeline company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.16). The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.72 billion. Mplx had a net margin of 28.30% and a return on equity of 26.12%. The firm’s revenue for the quarter was up 58.1% compared to the same quarter last year. During the same period last year, the company earned $0.31 earnings per share. As a group, research analysts forecast that Mplx will post 2.55 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. Tortoise Index Solutions LLC lifted its holdings in shares of Mplx by 110.5% in the 4th quarter. Tortoise Index Solutions LLC now owns 104,242 shares of the pipeline company’s stock valued at $3,159,000 after buying an additional 54,725 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Mplx by 57.5% in the 4th quarter. Hsbc Holdings PLC now owns 2,010,168 shares of the pipeline company’s stock valued at $60,908,000 after buying an additional 734,100 shares during the period. Knott David M lifted its holdings in shares of Mplx by 3.2% in the 4th quarter. Knott David M now owns 309,558 shares of the pipeline company’s stock valued at $9,380,000 after buying an additional 9,558 shares during the period. Fiera Capital Corp lifted its holdings in shares of Mplx by 31.1% in the 4th quarter. Fiera Capital Corp now owns 13,161 shares of the pipeline company’s stock valued at $398,000 after buying an additional 3,119 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Mplx by 1.1% in the 4th quarter. Northern Trust Corp now owns 467,729 shares of the pipeline company’s stock valued at $14,172,000 after buying an additional 5,037 shares during the period. 31.28% of the stock is owned by institutional investors.

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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