MPLX LP (MPLX) Rating Reiterated by Scotiabank
A number of other research firms have also weighed in on MPLX. BidaskClub lowered shares of MPLX from a hold rating to a sell rating in a research report on Tuesday, September 26th. Stifel Nicolaus reissued a buy rating and issued a $42.00 price objective (down from $43.00) on shares of MPLX in a research report on Tuesday, September 5th. Zacks Investment Research lowered shares of MPLX from a hold rating to a strong sell rating in a research report on Saturday, July 15th. Royal Bank Of Canada reissued a buy rating on shares of MPLX in a research report on Friday, July 28th. Finally, Guggenheim started coverage on shares of MPLX in a research report on Thursday, July 20th. They issued a buy rating and a $40.00 price objective on the stock. Two analysts have rated the stock with a sell rating, one has issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $42.25.
Shares of MPLX (NYSE MPLX) traded down 0.67% on Wednesday, reaching $35.46. The company had a trading volume of 997,195 shares. MPLX has a 52 week low of $30.09 and a 52 week high of $39.43. The stock’s 50 day moving average is $34.40 and its 200 day moving average is $34.66. The firm has a market capitalization of $13.78 billion, a price-to-earnings ratio of 42.37 and a beta of 1.36.
MPLX (NYSE:MPLX) last posted its quarterly earnings data on Thursday, July 27th. The pipeline company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.10. MPLX had a net margin of 19.07% and a return on equity of 6.13%. The company had revenue of $916.00 million for the quarter, compared to analyst estimates of $884.70 million. During the same period in the prior year, the company posted ($0.11) EPS. The firm’s revenue for the quarter was up 31.2% on a year-over-year basis. On average, equities analysts anticipate that MPLX will post $0.98 EPS for the current year.
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In other news, VP C Corwin Bromley sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $34.50, for a total transaction of $86,250.00. Following the transaction, the vice president now directly owns 123,705 shares of the company’s stock, valued at $4,267,822.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 8,000 shares of company stock worth $276,910.
Several large investors have recently modified their holdings of MPLX. Marshall Wace North America L.P. bought a new position in shares of MPLX during the second quarter valued at approximately $2,971,000. First Trust Advisors LP bought a new position in shares of MPLX during the second quarter valued at approximately $5,064,000. American International Group Inc. bought a new position in shares of MPLX during the first quarter valued at approximately $567,000. Johnson Financial Group LLC bought a new position in shares of MPLX during the second quarter valued at approximately $254,000. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of MPLX by 3.4% during the first quarter. Oppenheimer & Co. Inc. now owns 25,703 shares of the pipeline company’s stock valued at $928,000 after purchasing an additional 837 shares in the last quarter. 63.16% of the stock is currently owned by institutional investors and hedge funds.
MPLX Company Profile
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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