Mplx (NYSE:MPLX) Stock Price Target Lowered at Barclays

Mplx (NYSE:MPLX) had its price objective decreased by Barclays from $63.00 to $61.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the pipeline company’s stock. Barclays‘s target price suggests a potential upside of 7.86% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Citigroup raised their price objective on Mplx from $55.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, November 5th. Royal Bank Of Canada upped their target price on Mplx from $60.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, August 21st. Wolfe Research cut Mplx from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, July 29th. Weiss Ratings upgraded Mplx from a “buy (a-)” rating to a “buy (a)” rating in a research note on Friday, October 30th. Finally, JPMorgan Chase & Co. assumed coverage on Mplx in a research note on Tuesday, October 20th. They issued a “neutral” rating and a $62.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Mplx presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.30.

Mplx Stock Down 0.3%

Mplx stock traded down $0.16 during mid-day trading on Wednesday, reaching $56.55. The company’s stock had a trading volume of 244,986 shares, compared to its average volume of 1,680,459. The company has a market capitalization of $57.34 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 5.38 and a beta of 0.48. Mplx has a 12 month low of $51.60 and a 12 month high of $60.95. The business’s 50 day simple moving average is $58.10 and its 200 day simple moving average is $57.27. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.47 and a current ratio of 1.56.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, November 3rd. The pipeline company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. Mplx had a net margin of 32.91% and a return on equity of 30.30%. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same period in the previous year, the business earned $1.52 EPS. The company’s revenue was down .4% compared to the same quarter last year. As a group, research analysts anticipate that Mplx will post 4.27 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MPLX. Allspring Global Investments Holdings LLC increased its position in Mplx by 2.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 23,515 shares of the pipeline company’s stock worth $1,324,000 after buying an additional 451 shares during the last quarter. International Assets Investment Management LLC raised its stake in Mplx by 264.5% in the third quarter. International Assets Investment Management LLC now owns 30,000 shares of the pipeline company’s stock valued at $1,690,000 after buying an additional 21,769 shares during the period. Pathway Financial Advisers LLC lifted its position in shares of Mplx by 7.2% in the third quarter. Pathway Financial Advisers LLC now owns 57,395 shares of the pipeline company’s stock valued at $3,232,000 after buying an additional 3,856 shares during the last quarter. Integrity Alliance LLC. acquired a new stake in shares of Mplx in the third quarter valued at approximately $538,000. Finally, GraniteShares Advisors LLC lifted its position in shares of Mplx by 1.6% in the third quarter. GraniteShares Advisors LLC now owns 52,839 shares of the pipeline company’s stock valued at $2,976,000 after buying an additional 816 shares during the last quarter. 24.25% of the stock is currently owned by institutional investors and hedge funds.

About Mplx

MPLX LP is a diversified midstream energy company formed by Marathon Petroleum in 2012. It owns and operates infrastructure that gathers, processes, transports and stores energy products, connecting producers and refiners with customers and markets. The company’s assets include natural gas and natural gas liquids gathering and processing facilities, pipelines and fractionation plants, as well as crude oil and refined-product pipelines, storage terminals and inland marine transport operations. Its network serves energy-producing and refining regions across the United States.