Mplx (NYSE:MPLX) Raised to Strong-Buy at StockNews.com

Mplx (NYSE:MPLX) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Sunday.

Several other equities research analysts have also recently commented on MPLX. UBS Group lifted their price target on shares of Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Bank of America began coverage on shares of Mplx in a research report on Thursday, October 17th. They set an “underperform” rating and a $43.00 target price for the company. Barclays lifted their price objective on Mplx from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Royal Bank of Canada increased their target price on Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Finally, Truist Financial boosted their target price on Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.89.

Mplx Stock Performance

MPLX stock opened at $51.17 on Friday. The company has a 50 day moving average price of $48.46 and a 200 day moving average price of $45.10. Mplx has a fifty-two week low of $36.79 and a fifty-two week 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 stock has a market capitalization of $52.13 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 2.81 and a beta of 1.43.

Mplx (NYSE:MPLX) last released its earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.09 billion. Mplx had a return on equity of 32.70% and a net margin of 36.77%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.89 EPS. Analysts forecast that Mplx will post 4.17 EPS for the current year.

Insider Activity

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of Mplx 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 sale, the vice president now owns 14,750 shares of the company’s stock, valued at approximately $696,790. This trade represents a 21.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hedge Funds Weigh In On Mplx

Large investors have recently bought and sold shares of the company. Secure Asset Management LLC grew its position in Mplx by 9.1% in the fourth quarter. Secure Asset Management LLC now owns 5,511 shares of the pipeline company’s stock valued at $264,000 after purchasing an additional 459 shares in the last quarter. Mutual Advisors LLC boosted its stake in shares of Mplx by 3.2% during the 4th quarter. Mutual Advisors LLC now owns 12,345 shares of the pipeline company’s stock worth $627,000 after buying an additional 378 shares during the last quarter. Wesbanco Bank Inc. grew its holdings in shares of Mplx by 27.9% in the 4th quarter. Wesbanco Bank Inc. now owns 6,879 shares of the pipeline company’s stock valued at $329,000 after acquiring an additional 1,500 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Mplx by 16.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 52,095 shares of the pipeline company’s stock valued at $2,493,000 after acquiring an additional 7,201 shares in the last quarter. Finally, Daymark Wealth Partners LLC increased its position in shares of Mplx by 8.0% in the fourth quarter. Daymark Wealth Partners LLC now owns 37,694 shares of the pipeline company’s stock valued at $1,804,000 after acquiring an additional 2,786 shares during the last quarter. Institutional investors and hedge funds own 24.25% of the company’s stock.

About Mplx

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Logistics and Storage (L&S) and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.