Mplx (NYSE:MPLX) Given New $52.00 Price Target at Barclays

Mplx (NYSE:MPLX) had its price target dropped by investment analysts at Barclays from $55.00 to $52.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the pipeline company’s stock. Barclays‘s price target indicates a potential upside of 6.19% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Morgan Stanley boosted their target price on shares of Mplx from $56.00 to $62.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 11th. Raymond James upped their target price on Mplx from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Wells Fargo & Company boosted their price target on Mplx from $54.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. StockNews.com lowered Mplx from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 2nd. Finally, Royal Bank of Canada lifted their target price on shares of Mplx from $55.00 to $58.00 and gave the company an “outperform” rating in a report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.50.

Mplx Stock Performance

Shares of NYSE:MPLX traded down $0.15 during trading on Monday, hitting $48.97. The stock had a trading volume of 1,570,732 shares, compared to its average volume of 1,763,767. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40. Mplx has a 12-month low of $39.84 and a 12-month high of $54.87. The stock has a market capitalization of $50.07 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 1.69 and a beta of 0.76. The stock has a 50-day simple moving average of $51.40 and a two-hundred day simple moving average of $50.20.

Mplx (NYSE:MPLX) last posted its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.03. Mplx had a net margin of 36.18% and a return on equity of 31.94%. The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the firm posted $0.98 EPS. Mplx’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities research analysts expect that Mplx will post 4.41 earnings per share for the current fiscal year.

Insider Activity at Mplx

In other news, VP Shawn M. Lyon acquired 4,000 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average cost of $52.75 per share, for a total transaction of $211,000.00. Following the acquisition, the vice president now owns 25,299 shares in the company, valued at approximately $1,334,522.25. This represents a 18.78% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Hedge Funds Weigh In On Mplx

Hedge funds and other institutional investors have recently modified their holdings of the business. CFO4Life Group LLC raised its holdings in shares of Mplx by 1.1% during the 4th quarter. CFO4Life Group LLC now owns 19,200 shares of the pipeline company’s stock worth $919,000 after acquiring an additional 200 shares during the period. Colonial River Investments LLC grew its position in Mplx by 1.8% in the first quarter. Colonial River Investments LLC now owns 11,603 shares of the pipeline company’s stock worth $621,000 after acquiring an additional 200 shares during the period. Axxcess Wealth Management LLC grew its position in Mplx by 1.8% in the first quarter. Axxcess Wealth Management LLC now owns 11,603 shares of the pipeline company’s stock worth $621,000 after acquiring an additional 200 shares during the period. RE Dickinson Investment Advisors LLC increased its stake in Mplx by 11.5% during the fourth quarter. RE Dickinson Investment Advisors LLC now owns 2,017 shares of the pipeline company’s stock worth $96,000 after acquiring an additional 208 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its position in Mplx by 1.1% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 21,520 shares of the pipeline company’s stock valued at $1,030,000 after purchasing an additional 231 shares during the period. 24.25% of the stock is owned by hedge funds and other institutional investors.

Mplx Company Profile

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Crude Oil and Products Logistics and Natural Gas and NGL Services segments. The Crude Oil and Products Logistics segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.