Mplx (NYSE:MPLX) Price Target Increased to $48.00 by Analysts at Truist Financial

Mplx (NYSE:MPLX) had its price target increased by Truist Financial from $43.00 to $48.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the pipeline company’s stock. Truist Financial’s target price would indicate a potential upside of 17.94% from the stock’s current price.

MPLX has been the topic of several other reports. UBS Group boosted their price target on shares of Mplx from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Raymond James boosted their price target on shares of Mplx from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Stifel Nicolaus boosted their price objective on shares of Mplx from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada boosted their price objective on shares of Mplx from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Finally, StockNews.com lowered shares of Mplx from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

Mplx Stock Down 0.1 %

NYSE:MPLX traded down $0.04 on Thursday, hitting $40.70. 220,348 shares of the company’s stock were exchanged, compared to its average volume of 2,186,436. The firm has a 50-day moving average price of $40.74 and a 200-day moving average price of $38.13. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.07 and a quick ratio of 1.01. Mplx has a 52 week low of $33.12 and a 52 week high of $42.90. The company has a market cap of $41.14 billion, a P/E ratio of 10.49 and a beta of 1.35.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.98 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.01). Mplx had a return on equity of 32.13% and a net margin of 34.96%. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period last year, the firm earned $0.91 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, analysts expect that Mplx will post 4.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Mplx

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alps Advisors Inc. lifted its stake in Mplx by 18.9% in the 3rd quarter. Alps Advisors Inc. now owns 28,771,793 shares of the pipeline company’s stock valued at $1,023,413,000 after purchasing an additional 4,579,152 shares during the last quarter. Invesco Ltd. increased its position in shares of Mplx by 4.0% during the third quarter. Invesco Ltd. now owns 20,917,505 shares of the pipeline company’s stock worth $744,036,000 after buying an additional 809,273 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Mplx by 2.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,463,737 shares of the pipeline company’s stock worth $237,348,000 after purchasing an additional 154,529 shares during the period. UBS Group AG grew its holdings in Mplx by 12.2% in the third quarter. UBS Group AG now owns 5,869,436 shares of the pipeline company’s stock worth $208,776,000 after purchasing an additional 639,199 shares during the period. Finally, Barclays PLC grew its holdings in Mplx by 440.5% in the third quarter. Barclays PLC now owns 5,649,301 shares of the pipeline company’s stock worth $200,946,000 after purchasing an additional 4,604,066 shares during the period. 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.