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

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

Several other brokerages have also recently weighed in on MPLX. Wells Fargo & Company lifted their price target on Mplx from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Barclays boosted their target price on shares of Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. UBS Group raised their price target on shares of Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Bank of America started coverage on shares of Mplx in a research note on Thursday, October 17th. They set an “underperform” rating and a $43.00 target price on the stock. Finally, Royal Bank of Canada lifted their price target on Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $49.44.

Mplx Price Performance

Shares of NYSE:MPLX opened at $49.50 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. Mplx has a twelve month low of $35.51 and a twelve month high of $49.54. The company’s 50 day moving average is $45.02 and its 200 day moving average is $42.95. The company has a market cap of $50.43 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 2.82 and a beta of 1.37.

Mplx (NYSE:MPLX) last issued its earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.04). The business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.09 billion. Mplx had a return on equity of 32.70% and a net margin of 36.77%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the business earned $0.89 EPS. On average, sell-side analysts forecast that Mplx will post 4.26 EPS for the current year.

Insider Buying and Selling at Mplx

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

Hedge Funds Weigh In On Mplx

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC increased its holdings in shares of Mplx by 73.3% during the 2nd quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock worth $45,000 after buying an additional 451 shares during the last quarter. Summit Securities Group LLC raised its position in Mplx by 450.0% in the second quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company’s stock valued at $47,000 after purchasing an additional 900 shares during the period. Cedar Wealth Management LLC purchased a new stake in Mplx in the third quarter valued at $51,000. Redwood Wealth Management Group LLC acquired a new position in shares of Mplx in the 2nd quarter valued at $67,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Mplx during the 2nd quarter worth about $88,000. Institutional investors and hedge funds 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.