Mplx (NYSE:MPLX) PT Raised to $48.00 at Truist Financial

Mplx (NYSE:MPLX) had its price objective hoisted by equities research analysts at Truist Financial from $43.00 to $48.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the pipeline company’s stock. Truist Financial’s target price indicates a potential upside of 16.73% from the company’s previous close.

A number of other brokerages also recently commented on MPLX. Raymond James raised their price objective on Mplx from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Royal Bank of Canada raised their price objective on shares of Mplx from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Barclays upped their target price on shares of Mplx from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. StockNews.com cut shares of Mplx from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, UBS Group upped their price objective on Mplx from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, April 12th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $45.11.

Mplx Trading Up 0.0 %

Shares of MPLX stock traded up $0.02 during trading hours on Thursday, reaching $41.12. 1,258,763 shares of the stock traded hands, compared to its average volume of 2,418,397. The company has a quick ratio of 1.01, a current ratio of 0.72 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $41.56 billion, a PE ratio of 10.60 and a beta of 1.35. Mplx has a 1-year low of $33.12 and a 1-year high of $42.90. The business has a fifty day moving average price of $40.80 and a 200 day moving average price of $38.19.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.01). Mplx had a return on equity of 31.70% and a net margin of 34.96%. The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the prior year, the company posted $0.91 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. On average, equities research analysts forecast that Mplx will post 4.06 EPS for the current year.

Institutional Investors Weigh In On Mplx

Several institutional investors have recently bought and sold shares of MPLX. Alps Advisors Inc. boosted its stake in shares of Mplx by 18.9% during the 3rd quarter. Alps Advisors Inc. now owns 28,771,793 shares of the pipeline company’s stock worth $1,023,413,000 after buying an additional 4,579,152 shares during the last quarter. Invesco Ltd. grew its stake in Mplx by 4.0% in the third quarter. Invesco Ltd. now owns 20,917,505 shares of the pipeline company’s stock valued at $744,036,000 after purchasing an additional 809,273 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Mplx by 2.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,463,737 shares of the pipeline company’s stock worth $237,348,000 after purchasing an additional 154,529 shares during the last quarter. UBS Group AG raised its stake in shares of Mplx by 12.2% during the 3rd quarter. UBS Group AG now owns 5,869,436 shares of the pipeline company’s stock worth $208,776,000 after purchasing an additional 639,199 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Mplx by 440.5% in the 3rd quarter. Barclays PLC now owns 5,649,301 shares of the pipeline company’s stock valued at $200,946,000 after buying an additional 4,604,066 shares during the last quarter. Institutional investors own 24.25% of the company’s stock.

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.