Mplx (NYSE:MPLX) Price Target Raised to $55.00 at Truist Financial

Mplx (NYSE:MPLX) had its price target lifted by stock analysts at Truist Financial from $48.00 to $55.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the pipeline company’s stock. Truist Financial’s price objective would suggest a potential upside of 15.84% from the stock’s previous close.

A number of other research firms also recently commented on MPLX. Bank of America assumed coverage on shares of Mplx in a report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price objective on the stock. StockNews.com upgraded Mplx from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 14th. Wells Fargo & Company boosted their target price on shares of Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Barclays raised their target price on Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada boosted their price target on shares of Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $49.44.

Mplx Trading Up 0.0 %

MPLX stock traded up $0.02 during mid-day trading on Tuesday, reaching $47.48. The company had a trading volume of 214,664 shares, compared to its average volume of 1,854,353. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95. The firm has a 50 day moving average of $44.61 and a 200 day moving average of $42.77. The company has a market capitalization of $48.37 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 1.28 and a beta of 1.37. Mplx has a 12 month low of $35.51 and a 12 month high of $47.71.

Mplx (NYSE:MPLX) last announced its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.04). Mplx had a return on equity of 32.70% and a net margin of 36.77%. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period in the prior year, the business posted $0.89 earnings per share. Mplx’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities analysts predict that Mplx will post 4.31 earnings per share for the current fiscal year.

Institutional Trading of Mplx

Several hedge funds and other institutional investors have recently bought and sold shares of MPLX. Sei Investments Co. grew its position in Mplx by 47.4% in the 1st quarter. Sei Investments Co. now owns 51,740 shares of the pipeline company’s stock worth $2,150,000 after purchasing an additional 16,637 shares during the last quarter. Lake Street Advisors Group LLC bought a new position in Mplx in the first quarter valued at approximately $301,000. Crewe Advisors LLC bought a new stake in Mplx in the 1st quarter valued at $41,000. Freestone Capital Holdings LLC acquired a new position in shares of Mplx during the 1st quarter worth $332,000. Finally, Sheaff Brock Investment Advisors LLC lifted its stake in shares of Mplx by 11.7% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 19,811 shares of the pipeline company’s stock valued at $823,000 after purchasing an additional 2,070 shares during the period. 24.25% of the stock is owned by hedge funds and other institutional investors.

About Mplx

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.