Mplx (NYSE:MPLX) Stock Rating Upgraded by StockNews.com

Mplx (NYSE:MPLX) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Friday.

MPLX has been the topic of several other research reports. Bank of America started coverage on Mplx in a report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price target on the stock. Barclays lifted their price target on shares of Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Royal Bank of Canada raised their price objective on shares of Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. UBS Group upped their price target on Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Truist Financial boosted their price target on shares of Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Mplx has an average rating of “Moderate Buy” and a consensus price target of $49.56.

Mplx Trading Down 0.2 %

Shares of MPLX stock opened at $48.52 on Friday. The company has a market cap of $49.43 billion, a P/E ratio of 11.44, a PEG ratio of 2.91 and a beta of 1.43. Mplx has a fifty-two week low of $36.76 and a fifty-two week high of $51.94. The stock has a 50 day simple moving average of $47.63 and a two-hundred day simple moving average of $44.57. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99.

Mplx (NYSE:MPLX) last released its earnings results 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 net margin of 36.77% and a return on equity of 32.70%. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the previous year, the firm earned $0.89 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. Research analysts forecast that Mplx will post 4.18 earnings per share for the current year.

Insider Buying and Selling at Mplx

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

Institutional Trading of Mplx

Institutional investors and hedge funds have recently modified their holdings of the business. Tidal Investments LLC raised its position in shares of Mplx by 23.2% during the 3rd quarter. Tidal Investments LLC now owns 14,764 shares of the pipeline company’s stock valued at $656,000 after buying an additional 2,785 shares in the last quarter. Sanctuary Advisors LLC raised its position in Mplx by 9.3% during the third quarter. Sanctuary Advisors LLC now owns 21,530 shares of the pipeline company’s stock valued at $957,000 after purchasing an additional 1,832 shares in the last quarter. Rehmann Capital Advisory Group lifted its stake in Mplx by 2.1% during the third quarter. Rehmann Capital Advisory Group now owns 24,201 shares of the pipeline company’s stock worth $1,076,000 after purchasing an additional 500 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Mplx by 5.3% in the 3rd quarter. Geode Capital Management LLC now owns 15,488 shares of the pipeline company’s stock worth $689,000 after purchasing an additional 785 shares in the last quarter. Finally, M&T Bank Corp bought a new position in shares of Mplx during the 3rd quarter valued at about $2,023,000. Hedge funds and other institutional investors own 24.25% of the company’s stock.

About Mplx

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.