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

Mplx (NYSE:MPLX) had its price objective boosted by equities researchers at Royal Bank Of Canada from $60.00 to $64.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the pipeline company’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 9.07% from the stock’s current price.

Other research analysts also recently issued reports about the company. Wells Fargo & Company lifted their price target on Mplx from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Wolfe Research downgraded shares of Mplx from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, July 29th. Morgan Stanley boosted their target price on shares of Mplx from $60.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 12th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Mplx in a research note on Thursday, August 13th. Finally, Barclays increased their price target on shares of Mplx from $59.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.20.

Mplx Stock Up 0.1%

Shares of Mplx stock opened at $58.68 on Friday. The firm has a market cap of $59.49 billion, a price-to-earnings ratio of 12.62, a P/E/G ratio of 5.57 and a beta of 0.48. The stock has a 50-day simple moving average of $57.66 and a 200-day simple moving average of $56.94. Mplx has a 52-week low of $47.80 and a 52-week high of $60.95. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.89 and a quick ratio of 0.83.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $1.06 EPS for the quarter, hitting analysts’ consensus estimates of $1.06. The firm had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.14 billion. Mplx had a return on equity of 32.83% and a net margin of 35.75%.The firm’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.03 earnings per share. On average, equities research analysts expect that Mplx will post 4.26 earnings per share for the current fiscal year.

Institutional Trading of Mplx

Hedge funds have recently modified their holdings of the company. Belfer Management LLC raised its position in shares of Mplx by 2.4% during the fourth quarter. Belfer Management LLC now owns 7,849 shares of the pipeline company’s stock worth $419,000 after acquiring an additional 181 shares during the last quarter. Wealthstar Advisors LLC boosted its position in shares of Mplx by 1.5% in the 4th quarter. Wealthstar Advisors LLC now owns 12,598 shares of the pipeline company’s stock worth $672,000 after purchasing an additional 190 shares during the last quarter. Sei Investments Co. boosted its stake in Mplx by 0.9% during the 1st quarter. Sei Investments Co. now owns 22,175 shares of the pipeline company’s stock worth $1,266,000 after acquiring an additional 201 shares during the last quarter. Federation des caisses Desjardins du Quebec grew its holdings in Mplx by 3.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 5,658 shares of the pipeline company’s stock valued at $302,000 after purchasing an additional 208 shares during the period. Finally, Burford Brothers Inc. increased its stake in Mplx by 1.2% in the fourth quarter. Burford Brothers Inc. now owns 17,449 shares of the pipeline company’s stock valued at $931,000 after purchasing an additional 209 shares in the last quarter. Institutional investors and hedge funds 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.