Barclays Has Lowered Expectations for Mplx (NYSE:MPLX) Stock Price

Mplx (NYSE:MPLX) had its target price decreased by equities research analysts at Barclays from $63.00 to $61.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the pipeline company’s stock. Barclays‘s target price points to a potential upside of 7.86% from the company’s current price.

A number of other research analysts have also commented on MPLX. Citigroup upped their price target on shares of Mplx from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday, November 5th. Weiss Ratings upgraded shares of Mplx from a “buy (a-)” rating to a “buy (a)” rating in a research report on Friday, October 30th. JPMorgan Chase & Co. began coverage on Mplx in a report on Tuesday, October 20th. They set a “neutral” rating and a $62.00 price objective for the company. Morgan Stanley decreased their target price on Mplx from $64.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Wolfe Research lowered Mplx from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $63.30.

Mplx Stock Performance

Shares of MPLX traded down $0.16 during trading hours on Wednesday, hitting $56.55. The company had a trading volume of 244,986 shares, compared to its average volume of 1,680,459. The firm has a market cap of $57.34 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 5.38 and a beta of 0.48. The business has a fifty day moving average of $58.10 and a 200-day moving average of $57.27. Mplx has a 12 month low of $51.60 and a 12 month high of $60.95. The company has a quick ratio of 1.47, a current ratio of 1.56 and a debt-to-equity ratio of 1.86.

Mplx (NYSE:MPLX) last posted its earnings results on Tuesday, November 3rd. The pipeline company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $3.35 billion. Mplx had a net margin of 32.91% and a return on equity of 30.30%. Mplx’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the company posted $1.52 EPS. Equities analysts anticipate that Mplx will post 4.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Mplx

Several institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC increased its position in Mplx by 2.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 23,515 shares of the pipeline company’s stock worth $1,324,000 after acquiring an additional 451 shares during the period. International Assets Investment Management LLC boosted its holdings in Mplx by 264.5% in the 3rd quarter. International Assets Investment Management LLC now owns 30,000 shares of the pipeline company’s stock valued at $1,690,000 after purchasing an additional 21,769 shares during the period. Pathway Financial Advisers LLC boosted its holdings in Mplx by 7.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 57,395 shares of the pipeline company’s stock valued at $3,232,000 after purchasing an additional 3,856 shares during the period. Integrity Alliance LLC. bought a new stake in Mplx in the 3rd quarter valued at about $538,000. Finally, GraniteShares Advisors LLC boosted its holdings in Mplx by 1.6% in the 3rd quarter. GraniteShares Advisors LLC now owns 52,839 shares of the pipeline company’s stock valued at $2,976,000 after purchasing an additional 816 shares during the period. 24.25% of the stock is currently owned by institutional investors and hedge funds.

About Mplx

MPLX LP is a diversified midstream energy company formed by Marathon Petroleum in 2012. It owns and operates infrastructure that gathers, processes, transports and stores energy products, connecting producers and refiners with customers and markets. The company’s assets include natural gas and natural gas liquids gathering and processing facilities, pipelines and fractionation plants, as well as crude oil and refined-product pipelines, storage terminals and inland marine transport operations. Its network serves energy-producing and refining regions across the United States.