Zacks Research Downgrades Mplx (NYSE:MPLX) to Strong Sell

Mplx (NYSE:MPLX) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday,Zacks.com reports.

Several other analysts have also commented on the company. Wall Street Zen lowered Mplx from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. UBS Group increased their price objective on Mplx from $64.00 to $73.00 and gave the company a “buy” rating in a report on Monday, March 16th. Wells Fargo & Company decreased their price objective on Mplx from $63.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday. Truist Financial decreased their price objective on Mplx from $67.00 to $66.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Finally, Barclays reduced their target price on Mplx from $59.00 to $58.00 and set an “overweight” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.70.

Mplx Stock Performance

Shares of MPLX opened at $54.02 on Thursday. Mplx has a 12 month low of $47.80 and a 12 month high of $59.98. The stock has a fifty day moving average price of $57.03 and a 200-day moving average price of $55.10. The company has a current ratio of 1.10, a quick ratio of 1.18 and a debt-to-equity ratio of 1.71. The firm has a market cap of $54.84 billion, a PE ratio of 11.69, a P/E/G ratio of 5.26 and a beta of 0.49.

Mplx (NYSE:MPLX) last issued its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.15). Mplx had a net margin of 36.38% and a return on equity of 32.74%. The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the prior year, the company posted $1.10 EPS. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. Equities research analysts predict that Mplx will post 4.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mplx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MPLX. Solstein Capital LLC acquired a new stake in Mplx during the 3rd quarter worth about $25,000. EQ Wealth Advisors LLC acquired a new stake in Mplx during the 4th quarter worth about $32,000. Assetmark Inc. grew its position in Mplx by 81.5% during the 1st quarter. Assetmark Inc. now owns 559 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 251 shares during the period. Wiser Advisor Group LLC acquired a new stake in Mplx during the 3rd quarter worth about $38,000. Finally, Root Financial Partners LLC acquired a new stake in Mplx during the 3rd quarter worth about $39,000. 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.