Barclays Increases Mplx (NYSE:MPLX) Price Target to $45.00

Mplx (NYSE:MPLX) had its target price lifted by stock analysts at Barclays from $43.00 to $45.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the pipeline company’s stock. Barclays‘s target price points to a potential upside of 7.37% from the stock’s previous close.

Several other brokerages also recently commented on MPLX. StockNews.com downgraded Mplx from a “strong-buy” rating to a “buy” rating in a report on Monday, June 24th. Stifel Nicolaus boosted their target price on shares of Mplx from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. raised their price target on shares of Mplx from $45.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. UBS Group boosted their price objective on shares of Mplx from $46.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Finally, Truist Financial raised their target price on Mplx from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.33.

Mplx Price Performance

MPLX opened at $41.91 on Friday. The company has a 50 day moving average of $41.32 and a two-hundred day moving average of $40.06. Mplx has a 52-week low of $34.24 and a 52-week high of $43.07. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 1.44. The company has a market cap of $42.59 billion, a P/E ratio of 10.80, a P/E/G ratio of 2.10 and a beta of 1.37.

Mplx (NYSE:MPLX) last announced its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). Mplx had a return on equity of 31.70% and a net margin of 34.96%. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same period last year, the company posted $0.91 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, analysts expect that Mplx will post 4.01 earnings per share for the current year.

Institutional Trading of Mplx

Several institutional investors and hedge funds have recently bought and sold shares of MPLX. PSI Advisors LLC increased its holdings in shares of Mplx by 63.6% in the 4th quarter. PSI Advisors LLC now owns 900 shares of the pipeline company’s stock valued at $33,000 after acquiring an additional 350 shares during the last quarter. Quent Capital LLC acquired a new stake in shares of Mplx during the first quarter worth $35,000. HBC Financial Services PLLC bought a new position in shares of Mplx in the 4th quarter worth about $36,000. Fortitude Family Office LLC acquired a new position in shares of Mplx in the 4th quarter valued at about $41,000. Finally, Pacifica Partners Inc. bought a new stake in shares of Mplx during the 1st quarter valued at about $41,000. Institutional investors and hedge funds own 24.25% of the company’s stock.

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.