Mplx (NYSE:MPLX) Price Target Lowered to $66.00 at Truist Financial

Mplx (NYSE:MPLX) had its price objective reduced by stock analysts at Truist Financial from $67.00 to $66.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the pipeline company’s stock. Truist Financial’s price objective indicates a potential upside of 18.65% from the company’s previous close.

MPLX has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their target price on Mplx from $58.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, March 10th. Raymond James Financial downgraded Mplx from an “outperform” rating to a “market perform” rating in a research report on Monday, January 5th. Citigroup lifted their target price on Mplx from $54.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Mplx in a research note on Monday, December 29th. Finally, Wall Street Zen raised Mplx from a “hold” rating to a “buy” rating in a research note on Monday, March 23rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.44.

Mplx Price Performance

NYSE:MPLX opened at $55.63 on Tuesday. Mplx has a 52 week low of $44.60 and a 52 week high of $59.98. The company has a quick ratio of 1.18, a current ratio of 1.23 and a debt-to-equity ratio of 1.66. The company has a market capitalization of $56.47 billion, a P/E ratio of 11.54, a P/E/G ratio of 5.12 and a beta of 0.56. The stock’s fifty day moving average is $57.38 and its two-hundred day moving average is $54.21.

Mplx (NYSE:MPLX) last posted its earnings results on Tuesday, February 3rd. The pipeline company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.07. Mplx had a return on equity of 34.37% and a net margin of 37.79%.The company had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter in the previous year, the business earned $1.07 earnings per share. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. Equities analysts expect that Mplx will post 4.41 EPS for the current year.

Institutional Investors Weigh In On Mplx

A number of institutional investors have recently modified their holdings of MPLX. Belfer Management LLC grew its stake in Mplx by 2.4% during the 4th quarter. Belfer Management LLC now owns 7,849 shares of the pipeline company’s stock worth $419,000 after purchasing an additional 181 shares in the last quarter. Trueblood Wealth Management LLC grew its stake in Mplx by 1.9% during the 4th quarter. Trueblood Wealth Management LLC now owns 9,736 shares of the pipeline company’s stock worth $520,000 after purchasing an additional 186 shares in the last quarter. Wealthstar Advisors LLC grew its stake in Mplx by 1.5% during the 4th quarter. Wealthstar Advisors LLC now owns 12,598 shares of the pipeline company’s stock worth $672,000 after purchasing an additional 190 shares in the last quarter. Cobblestone Capital Advisors LLC NY increased its stake in shares of Mplx by 4.0% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 5,198 shares of the pipeline company’s stock worth $260,000 after buying an additional 198 shares during the period. Finally, Gladstone Institutional Advisory LLC raised its holdings in Mplx by 3.5% in the third quarter. Gladstone Institutional Advisory LLC now owns 6,069 shares of the pipeline company’s stock valued at $303,000 after acquiring an additional 206 shares in the last quarter. 24.25% of the stock is owned by institutional investors and hedge funds.

About Mplx

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.