Mplx (NYSE:MPLX) Price Target Raised to $54.00 at Wells Fargo & Company

Mplx (NYSE:MPLX) had its price objective increased by Wells Fargo & Company from $53.00 to $54.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the pipeline company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 13.21% from the stock’s current price.

Several other research firms also recently commented on MPLX. Truist Financial boosted their price target on shares of Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. StockNews.com downgraded Mplx from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 22nd. UBS Group upped their target price on Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Barclays upped their target price on Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada upped their price objective on Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.56.

Mplx Price Performance

MPLX stock opened at $47.70 on Wednesday. Mplx has a 12 month low of $36.27 and a 12 month high of $51.94. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95. The company has a market capitalization of $48.60 billion, a P/E ratio of 11.23, a price-to-earnings-growth ratio of 2.87 and a beta of 1.42. The firm’s fifty day simple moving average is $46.69 and its 200-day simple moving average is $44.01.

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

Insider Buying and Selling at Mplx

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $47.24, for a total value of $188,960.00. Following the sale, the vice president now 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MPLX. Captrust Financial Advisors lifted its stake in Mplx by 0.4% in the 3rd quarter. Captrust Financial Advisors now owns 60,475 shares of the pipeline company’s stock worth $2,689,000 after acquiring an additional 231 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its position in shares of Mplx by 1.4% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 19,701 shares of the pipeline company’s stock worth $876,000 after acquiring an additional 268 shares during the period. Cherry Creek Investment Advisors Inc. boosted its stake in Mplx by 2.0% during the third quarter. Cherry Creek Investment Advisors Inc. now owns 14,204 shares of the pipeline company’s stock worth $632,000 after buying an additional 279 shares in the last quarter. FORA Capital LLC increased its stake in Mplx by 2.2% in the third quarter. FORA Capital LLC now owns 15,320 shares of the pipeline company’s stock valued at $681,000 after acquiring an additional 332 shares during the period. Finally, Fidelis Capital Partners LLC lifted its position in shares of Mplx by 3.9% during the 3rd quarter. Fidelis Capital Partners LLC now owns 9,032 shares of the pipeline company’s stock worth $396,000 after buying an additional 338 shares during the period. Institutional investors own 24.25% of the company’s stock.

Mplx Company Profile

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. 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; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.