BidaskClub lowered shares of Mplx Lp (NYSE:MPLX) from a sell rating to a strong sell rating in a research note issued to investors on Friday morning.
Several other brokerages have also issued reports on MPLX. Stifel Nicolaus reaffirmed a buy rating and set a $42.00 target price (down from $43.00) on shares of Mplx Lp in a research report on Tuesday, September 5th. Zacks Investment Research downgraded Mplx Lp from a hold rating to a strong sell rating in a report on Saturday, July 15th. Scotiabank set a $44.00 price target on Mplx Lp and gave the stock a buy rating in a report on Saturday, July 22nd. Royal Bank Of Canada reiterated a buy rating on shares of Mplx Lp in a report on Friday, July 28th. Finally, Guggenheim initiated coverage on Mplx Lp in a report on Thursday, July 20th. They set a buy rating and a $40.00 price target for the company. Two analysts have rated the stock with a sell rating, one has issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $42.25.
Mplx Lp (NYSE:MPLX) traded down 0.78% during midday trading on Friday, hitting $34.46. The stock had a trading volume of 1,406,784 shares. Mplx Lp has a 1-year low of $30.31 and a 1-year high of $39.43. The company has a 50-day moving average of $34.65 and a 200-day moving average of $34.65. The stock has a market cap of $13.39 billion, a price-to-earnings ratio of 41.17 and a beta of 1.36.
Mplx Lp (NYSE:MPLX) last announced its earnings results on Thursday, July 27th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.10. The business had revenue of $916.00 million during the quarter, compared to analyst estimates of $884.70 million. Mplx Lp had a return on equity of 6.13% and a net margin of 19.07%. Mplx Lp’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same period last year, the company earned ($0.11) EPS. Equities research analysts forecast that Mplx Lp will post $0.98 EPS for the current year.
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In other Mplx Lp news, VP C Corwin Bromley sold 5,000 shares of Mplx Lp stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $34.65, for a total transaction of $173,250.00. Following the transaction, the vice president now owns 123,705 shares of the company’s stock, valued at approximately $4,286,378.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have sold 8,000 shares of company stock worth $276,910.
Several institutional investors have recently bought and sold shares of MPLX. Ffcm LLC bought a new position in shares of Mplx Lp during the 2nd quarter worth approximately $116,000. Pathstone Family Office LLC bought a new stake in shares of Mplx Lp in the 2nd quarter worth approximately $119,000. Cedar Wealth Management LLC raised its holdings in shares of Mplx Lp by 17.6% in the 2nd quarter. Cedar Wealth Management LLC now owns 5,490 shares of the pipeline company’s stock worth $183,000 after purchasing an additional 820 shares during the period. Tower Research Capital LLC TRC bought a new stake in shares of Mplx Lp in the 2nd quarter worth approximately $191,000. Finally, Ameritas Investment Partners Inc. bought a new stake in shares of Mplx Lp in the 1st quarter worth approximately $198,000. 63.16% of the stock is currently owned by hedge funds and other institutional investors.
Mplx Lp Company Profile
MPLX LP is a master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire 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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