Royal Bank of Canada Issues Positive Forecast for Mplx (NYSE:MPLX) Stock Price

Mplx (NYSE:MPLX) had its price objective lifted by Royal Bank of Canada from $50.00 to $52.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the pipeline company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 9.11% from the company’s current price.

MPLX has been the topic of a number of other reports. StockNews.com upgraded shares of Mplx from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 14th. Barclays boosted their price target on Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Bank of America assumed coverage on Mplx in a research report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price objective for the company. UBS Group boosted their target price on Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Wells Fargo & Company upped their price target on Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $49.44.

Mplx Stock Up 0.4 %

Shares of NYSE MPLX opened at $47.66 on Monday. The stock has a market cap of $48.56 billion, a PE ratio of 11.24, a price-to-earnings-growth ratio of 1.28 and a beta of 1.37. Mplx has a 52-week low of $35.51 and a 52-week high of $47.71. The business has a 50-day moving average price of $44.71 and a 200 day moving average price of $42.82. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40.

Mplx (NYSE:MPLX) last posted its quarterly earnings data 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). The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.09 billion. Mplx had a net margin of 36.77% and a return on equity of 32.70%. Mplx’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 earnings per share. Equities research analysts forecast that Mplx will post 4.31 earnings per share for the current year.

Institutional Investors Weigh In On Mplx

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Crewe Advisors LLC purchased a new position in shares of Mplx in the 1st quarter valued at about $41,000. CWM LLC increased its holdings in Mplx by 73.3% in the second quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock valued at $45,000 after buying an additional 451 shares in the last quarter. Summit Securities Group LLC lifted its position in shares of Mplx by 450.0% during the 2nd quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company’s stock valued at $47,000 after acquiring an additional 900 shares during the period. Cedar Wealth Management LLC purchased a new stake in shares of Mplx during the 3rd quarter worth approximately $51,000. Finally, Redwood Wealth Management Group LLC acquired a new stake in shares of Mplx in the 2nd quarter worth approximately $67,000. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Company Profile

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.