Mplx (NYSE:MPLX) Stock Price Target Cut by Morgan Stanley

Mplx (NYSE:MPLX) had its price objective cut by investment analysts at Morgan Stanley from $66.00 to $64.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the pipeline company’s stock. Morgan Stanley’s price objective suggests a potential upside of 12.64% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on MPLX. Barclays lifted their price target on shares of Mplx from $59.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Mplx in a research report on Thursday, August 13th. Royal Bank Of Canada increased their target price on shares of Mplx from $60.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, August 21st. Wells Fargo & Company raised their target price on shares of Mplx from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Finally, Wolfe Research downgraded Mplx from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $63.60.

Mplx Stock Performance

Shares of MPLX stock traded down $0.01 during trading hours on Tuesday, hitting $56.82. The company’s stock had a trading volume of 253,207 shares, compared to its average volume of 1,672,524. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 1.71. The company has a 50 day moving average of $58.65 and a 200 day moving average of $57.15. Mplx has a 12-month low of $47.94 and a 12-month high of $60.95. The stock has a market cap of $57.60 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 5.34 and a beta of 0.49.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $1.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.06. Mplx had a return on equity of 32.83% and a net margin of 35.75%. The business had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter last year, the business posted $1.03 EPS. The company’s revenue was up 10.3% on a year-over-year basis. On average, sell-side analysts forecast that Mplx will post 4.27 EPS for the current fiscal year.

Institutional Trading of Mplx

Several hedge funds have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC lifted its holdings in Mplx by 27.3% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 24,726 shares of the pipeline company’s stock worth $1,393,000 after buying an additional 5,299 shares during the last quarter. VELA Investment Management LLC raised its stake in Mplx by 10.0% during the 2nd quarter. VELA Investment Management LLC now owns 18,164 shares of the pipeline company’s stock worth $1,023,000 after acquiring an additional 1,651 shares in the last quarter. Corient Private Wealth LP grew its holdings in shares of Mplx by 3.1% during the second quarter. Corient Private Wealth LP now owns 348,098 shares of the pipeline company’s stock worth $19,608,000 after purchasing an additional 10,377 shares during the last quarter. Wellington Grp LLC lifted its holdings in shares of Mplx by 61.1% in the 2nd quarter. Wellington Grp LLC now owns 15,589 shares of the pipeline company’s stock valued at $878,000 after purchasing an additional 5,914 shares during the last quarter. Finally, Advus Financial Partners LLC boosted its position in shares of Mplx by 3.2% in the 2nd quarter. Advus Financial Partners LLC now owns 6,191 shares of the pipeline company’s stock valued at $349,000 after purchasing an additional 191 shares during the period. Institutional investors and hedge funds own 24.25% of the company’s stock.

About Mplx

MPLX LP (NYSE:MPLX) is a diversified master limited partnership that owns and operates midstream energy infrastructure in the United States. The company provides transportation, storage and logistics services for crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs), primarily under long-term commercial arrangements with energy producers, refiners and other customers.

MPLX’s assets include crude oil and refined-products pipelines, storage facilities, marine and inland waterway terminals, rail and truck transportation operations, and gathering and processing systems.