Analysts Set Mplx Lp (NYSE:MPLX) Price Target at $36.25
Mplx Lp (NYSE:MPLX) has received an average rating of “Hold” from the twenty research firms that are currently covering the company. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $36.25.
A number of brokerages recently commented on MPLX. Zacks Investment Research upgraded shares of Mplx Lp from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Wednesday, July 27th. Mizuho assumed coverage on shares of Mplx Lp in a research report on Friday, September 30th. They set a “neutral” rating and a $35.00 target price on the stock. FBR & Co assumed coverage on shares of Mplx Lp in a research report on Friday, September 9th. They set a “market perform” rating and a $35.00 target price on the stock. Jefferies Group assumed coverage on shares of Mplx Lp in a research report on Tuesday, August 23rd. They set a “hold” rating and a $35.00 target price on the stock. Finally, Barclays PLC assumed coverage on shares of Mplx Lp in a research report on Tuesday, July 19th. They set an “overweight” rating and a $42.00 target price on the stock.
Mplx Lp (NYSE:MPLX) opened at 31.49 on Friday. The company’s market cap is $10.57 billion. The company has a 50-day moving average of $32.91 and a 200 day moving average of $32.12. Mplx Lp has a 52-week low of $16.34 and a 52-week high of $45.63.
Mplx Lp (NYSE:MPLX) last announced its quarterly earnings results on Thursday, July 28th. The company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.39. The company had revenue of $564 million for the quarter, compared to analyst estimates of $657.88 million. During the same quarter in the prior year, the business posted $0.50 EPS. The business’s revenue was up 161.1% compared to the same quarter last year. Equities research analysts predict that Mplx Lp will post $0.21 EPS for the current year.
In related news, CFO Nancy Buese sold 15,000 shares of the stock in a transaction that occurred on Friday, September 23rd. The shares were sold at an average price of $32.81, for a total value of $492,150.00. Following the completion of the transaction, the chief financial officer now owns 187,779 shares of the company’s stock, valued at approximately $6,161,028.99. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Group LTD acquired a new position in Mplx Lp during the first quarter valued at about $1,940,000. Conning Inc. increased its position in Mplx Lp by 30.3% in the second quarter. Conning Inc. now owns 112,474 shares of the company’s stock valued at $3,783,000 after buying an additional 26,158 shares during the last quarter. Americafirst Capital Management LLC acquired a new position in Mplx Lp during the second quarter valued at about $173,000. Quadrature Capital Ltd acquired a new position in Mplx Lp during the first quarter valued at about $2,279,000. Finally, Williams Jones & Associates LLC increased its position in Mplx Lp by 7.8% in the first quarter. Williams Jones & Associates LLC now owns 110,123 shares of the company’s stock valued at $3,270,000 after buying an additional 7,956 shares during the last quarter.
About Mplx Lp
MPLX LP is a United States-based diversified master limited partnership (MLP) company, which owns, operates, develops and acquires midstream energy infrastructure assets. The Company is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids (NGLs); and the gathering, transportation and storage of crude oil and refined petroleum products.
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