BidaskClub upgraded shares of MPLX LP (NYSE:MPLX) from a sell rating to a hold rating in a research note published on Saturday morning.
Other equities analysts have also issued research reports about the company. Royal Bank of Canada restated a buy rating on shares of MPLX in a research note on Friday, July 28th. Scotiabank set a $44.00 price target on MPLX and gave the company a buy rating in a research note on Saturday, July 22nd. Guggenheim assumed coverage on MPLX in a research note on Thursday, July 20th. They issued a buy rating and a $40.00 price target for the company. Stifel Nicolaus restated a buy rating and issued a $42.00 price target (down previously from $43.00) on shares of MPLX in a research note on Tuesday, September 5th. Finally, Jefferies Group LLC cut their price target on MPLX from $42.00 to $41.00 and set a buy rating for the company in a research note on Monday, August 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $42.25.
MPLX (NYSE MPLX) opened at 34.72 on Friday. The stock has a 50 day moving average price of $34.13 and a 200-day moving average price of $34.77. The company has a market cap of $13.49 billion, a price-to-earnings ratio of 41.48 and a beta of 1.36. MPLX has a 1-year low of $30.09 and a 1-year high of $39.43.
MPLX (NYSE:MPLX) last announced its quarterly earnings results on Thursday, July 27th. The pipeline company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.10. MPLX had a return on equity of 6.13% and a net margin of 19.07%. The firm had revenue of $916.00 million during the quarter, compared to analyst estimates of $884.70 million. During the same quarter in the previous year, the business earned ($0.11) EPS. MPLX’s revenue for the quarter was up 31.2% compared to the same quarter last year. On average, equities research analysts forecast that MPLX will post $0.96 EPS for the current year.
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In other news, VP C Corwin Bromley sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $34.65, for a total transaction of $173,250.00. Following the transaction, the vice president now directly owns 123,705 shares in the company, valued at approximately $4,286,378.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have sold 8,000 shares of company stock valued at $276,910.
Several institutional investors have recently modified their holdings of MPLX. Waldron LP acquired a new position in shares of MPLX during the 1st quarter worth approximately $220,000. Advisors Asset Management Inc. acquired a new position in shares of MPLX during the 1st quarter worth approximately $771,000. Bank of New York Mellon Corp boosted its holdings in shares of MPLX by 45.4% during the 1st quarter. Bank of New York Mellon Corp now owns 171,047 shares of the pipeline company’s stock worth $6,172,000 after purchasing an additional 53,438 shares during the last quarter. Suntrust Banks Inc. boosted its holdings in shares of MPLX by 4.9% during the 1st quarter. Suntrust Banks Inc. now owns 8,016 shares of the pipeline company’s stock worth $289,000 after purchasing an additional 378 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its holdings in shares of MPLX by 4.7% during the 1st quarter. Mutual of America Capital Management LLC now owns 20,768 shares of the pipeline company’s stock worth $749,000 after purchasing an additional 937 shares during the last quarter. Institutional investors and hedge funds own 63.13% of the company’s stock.
MPLX LP is a master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets. The Company is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids (NGLs), and the gathering, transportation and storage of crude oil and refined petroleum products.
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