Wells Fargo & Company Raises Mplx (NYSE:MPLX) Price Target to $63.00

Mplx (NYSE:MPLX) had its target price raised by analysts at Wells Fargo & Company from $59.00 to $63.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the pipeline company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 7.70% from the stock’s current price.

A number of other analysts have also weighed in on the stock. Royal Bank Of Canada raised their price target on shares of Mplx from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, November 21st. Stifel Nicolaus upped their price objective on Mplx from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Raymond James Financial lowered Mplx from an “outperform” rating to a “market perform” rating in a research report on Monday, January 5th. Weiss Ratings reissued a “buy (a-)” rating on shares of Mplx in a research note on Monday, December 29th. Finally, Barclays boosted their target price on Mplx from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $59.14.

Mplx Stock Up 0.2%

Shares of NYSE MPLX opened at $58.49 on Friday. Mplx has a 12-month low of $44.60 and a 12-month high of $59.84. The firm’s 50-day simple moving average is $56.41 and its 200 day simple moving average is $53.41. The company has a quick ratio of 1.18, a current ratio of 1.23 and a debt-to-equity ratio of 1.66. The company has a market cap of $59.49 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 5.30 and a beta of 0.56.

Mplx (NYSE:MPLX) last announced its earnings results on Tuesday, February 3rd. The pipeline company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.07. Mplx had a net margin of 37.79% and a return on equity of 34.37%. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.23 billion. During the same period in the previous year, the firm posted $1.07 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. On average, research analysts expect that Mplx will post 4.41 earnings per share for the current fiscal year.

Institutional Trading of Mplx

A number of institutional investors have recently bought and sold shares of the business. Solstein Capital LLC acquired a new position in shares of Mplx in the 3rd quarter valued at $25,000. Elevation Point Wealth Partners LLC bought a new position in shares of Mplx in the 2nd quarter worth $26,000. FSC Wealth Advisors LLC acquired a new stake in shares of Mplx during the second quarter worth $29,000. Operose Advisors LLC grew its stake in shares of Mplx by 216.2% during the second 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 bought a new stake in Mplx in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 24.25% of the company’s stock.

About Mplx

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.