Barclays Forecasts Strong Price Appreciation for Mplx (NYSE:MPLX) Stock

Mplx (NYSE:MPLX) had its price target upped by analysts at Barclays from $55.00 to $59.00 in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The firm currently has an “overweight” rating on the pipeline company’s stock. Barclays‘s price target points to a potential upside of 5.10% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Truist Financial dropped their target price on shares of Mplx from $67.00 to $66.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. UBS Group upped their target price on shares of Mplx from $64.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Wall Street Zen raised shares of Mplx from a “hold” rating to a “buy” rating in a report on Monday, March 23rd. JPMorgan Chase & Co. upped their target price on shares of Mplx from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, March 10th. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Mplx in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.89.

Mplx Price Performance

Shares of Mplx stock opened at $56.14 on Friday. The business has a 50 day simple moving average of $57.37 and a two-hundred day simple moving average of $54.34. Mplx has a 12 month low of $46.72 and a 12 month high of $59.98. The stock has a market capitalization of $56.99 billion, a P/E ratio of 11.65, a PEG ratio of 5.15 and a beta of 0.56. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.23 and a quick ratio of 1.18.

Mplx (NYSE:MPLX) last announced its earnings results on Tuesday, February 3rd. The pipeline company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.07. Mplx had a return on equity of 34.37% and a net margin of 37.79%.The business had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter in the prior year, the firm earned $1.07 earnings per share. The business’s revenue was up 6.2% compared to the same quarter last year. As a group, analysts predict that Mplx will post 4.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MPLX. NewEdge Advisors LLC raised its holdings in shares of Mplx by 4.1% during the 1st quarter. NewEdge Advisors LLC now owns 24,049 shares of the pipeline company’s stock worth $1,287,000 after acquiring an additional 939 shares during the period. Geode Capital Management LLC increased its holdings in shares of Mplx by 6.6% during the 2nd quarter. Geode Capital Management LLC now owns 16,557 shares of the pipeline company’s stock worth $853,000 after buying an additional 1,021 shares during the last quarter. Guggenheim Capital LLC increased its holdings in shares of Mplx by 5.4% during the 2nd quarter. Guggenheim Capital LLC now owns 19,139 shares of the pipeline company’s stock worth $986,000 after buying an additional 972 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of Mplx by 12.5% during the 2nd quarter. Cerity Partners LLC now owns 53,113 shares of the pipeline company’s stock worth $2,736,000 after buying an additional 5,916 shares during the last quarter. Finally, Glenview Trust co increased its holdings in shares of Mplx by 62.5% during the 2nd quarter. Glenview Trust co now owns 6,500 shares of the pipeline company’s stock worth $335,000 after buying an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Mplx Company Profile

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.