Mplx (NYSE:MPLX) Price Target Raised to $55.00 at Truist Financial

Mplx (NYSE:MPLX) had its price objective increased by stock analysts at Truist Financial from $48.00 to $55.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the pipeline company’s stock. Truist Financial’s target price suggests a potential upside of 15.59% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company lifted their price objective on shares of Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. UBS Group upped their price objective on shares of Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a report on Friday, November 15th. Bank of America began coverage on shares of Mplx in a report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price objective on the stock. Royal Bank of Canada upped their price objective on shares of Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Monday. Finally, Barclays upped their price objective on shares of Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $49.44.

Mplx Trading Down 0.2 %

NYSE:MPLX opened at $47.58 on Tuesday. Mplx has a one year low of $35.51 and a one year high of $47.79. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. The firm has a market cap of $48.48 billion, a P/E ratio of 11.22, a P/E/G ratio of 1.28 and a beta of 1.37. The firm has a 50-day simple moving average of $44.80 and a 200-day simple moving average of $42.85.

Mplx (NYSE:MPLX) last issued its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). Mplx had a return on equity of 32.70% and a net margin of 36.77%. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same period in the previous year, the firm earned $0.89 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Equities analysts anticipate that Mplx will post 4.31 EPS for the current fiscal year.

Insider Activity at Mplx

In other Mplx news, VP Carl Kristopher Hagedorn sold 4,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $47.24, for a total transaction of $188,960.00. Following the completion of the transaction, the vice president now directly owns 14,750 shares in the company, valued at approximately $696,790. This represents a 21.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Hedge Funds Weigh In On Mplx

A number of large investors have recently added to or reduced their stakes in the stock. Tortoise Capital Advisors L.L.C. raised its position in Mplx by 2.4% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 14,825,905 shares of the pipeline company’s stock worth $631,435,000 after acquiring an additional 353,324 shares during the period. ING Groep NV raised its position in Mplx by 69.8% during the third quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock worth $294,699,000 after acquiring an additional 2,725,000 shares during the period. Kayne Anderson Capital Advisors LP raised its position in Mplx by 0.8% during the third quarter. Kayne Anderson Capital Advisors LP now owns 5,735,562 shares of the pipeline company’s stock worth $255,003,000 after acquiring an additional 45,271 shares during the period. Chickasaw Capital Management LLC raised its position in Mplx by 0.6% during the third quarter. Chickasaw Capital Management LLC now owns 5,580,052 shares of the pipeline company’s stock worth $248,089,000 after acquiring an additional 34,659 shares during the period. Finally, Energy Income Partners LLC raised its position in Mplx by 5.1% during the first quarter. Energy Income Partners LLC now owns 5,224,918 shares of the pipeline company’s stock worth $217,148,000 after acquiring an additional 255,211 shares during the period. 24.25% of the stock is currently owned by institutional investors and hedge funds.

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.