Mplx (NYSE:MPLX) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Mplx (NYSE:MPLX) had its target price hoisted by research analysts at Stifel Nicolaus from $57.00 to $60.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the pipeline company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 19.95% from the stock’s previous close.

Several other research firms also recently commented on MPLX. Wall Street Zen downgraded shares of Mplx from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Barclays raised their price target on shares of Mplx from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, July 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.11.

Mplx Stock Down 0.3%

MPLX opened at $50.02 on Thursday. The company has a 50 day moving average of $51.08 and a 200 day moving average of $51.54. The company has a market cap of $51.06 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 1.32 and a beta of 0.73. Mplx has a 12 month low of $41.80 and a 12 month high of $54.87. The company has a current ratio of 1.03, a quick ratio of 0.97 and a debt-to-equity ratio of 1.40.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, August 5th. The pipeline company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.05). The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $3.13 billion. Mplx had a return on equity of 30.95% and a net margin of 35.44%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the business posted $1.15 earnings per share. On average, sell-side analysts expect that Mplx will post 4.41 EPS for the current year.

Institutional Trading of Mplx

Several institutional investors and hedge funds have recently made changes to their positions in MPLX. Private Wealth Asset Management LLC purchased a new stake in shares of Mplx during the 2nd quarter valued at $26,000. Elevation Point Wealth Partners LLC purchased a new position in Mplx in the 2nd quarter worth $26,000. FSC Wealth Advisors LLC purchased a new position in Mplx in the 2nd quarter worth $29,000. Operose Advisors LLC raised its position in Mplx by 216.2% in the 2nd quarter. Operose Advisors LLC now owns 585 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 400 shares during the period. Finally, EQ Wealth Advisors LLC purchased a new position in Mplx in the 2nd quarter worth $31,000. Hedge funds and other institutional investors own 24.25% of the company’s stock.

About Mplx

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.