Mplx (NYSE:MPLX) had its price objective trimmed by Citigroup from $40.00 to $32.00 in a research note issued to investors on Monday morning, The Fly reports. The firm currently has a buy rating on the pipeline company’s stock.
Other equities research analysts have also issued research reports about the stock. Bank of America upgraded shares of Mplx from a neutral rating to a buy rating and set a $39.00 price objective on the stock in a research note on Tuesday, June 11th. ValuEngine lowered shares of Mplx from a sell rating to a strong sell rating in a research note on Wednesday, July 24th. Jefferies Financial Group reiterated a buy rating and set a $35.00 price objective on shares of Mplx in a research note on Tuesday, September 3rd. Raymond James dropped their price objective on shares of Mplx from $38.00 to $34.00 and set an outperform rating on the stock in a research note on Friday, August 2nd. Finally, BMO Capital Markets began coverage on shares of Mplx in a research note on Monday, June 10th. They set a market perform rating and a $35.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $35.83.
MPLX opened at $29.89 on Monday. The firm has a market cap of $31.47 billion, a price-to-earnings ratio of 13.05 and a beta of 1.11. Mplx has a fifty-two week low of $25.85 and a fifty-two week high of $35.90. The company’s 50-day moving average price is $28.05 and its 200 day moving average price is $31.08. The company has a quick ratio of 0.68, a current ratio of 0.75 and a debt-to-equity ratio of 2.07.
Mplx (NYSE:MPLX) last released its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.05). The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.66 billion. Mplx had a return on equity of 27.94% and a net margin of 28.78%. Mplx’s revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 EPS. Research analysts anticipate that Mplx will post 2.52 earnings per share for the current year.
In related news, Director Garry L. Peiffer acquired 18,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was acquired at an average cost of $27.15 per share, for a total transaction of $488,700.00. Following the completion of the acquisition, the director now directly owns 14,302 shares of the company’s stock, valued at approximately $388,299.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gary R. Heminger acquired 42,600 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was bought at an average price of $27.18 per share, with a total value of $1,157,868.00. Following the completion of the acquisition, the chief executive officer now directly owns 131,956 shares of the company’s stock, valued at $3,586,564.08. The disclosure for this purchase can be found here. Insiders acquired 79,400 shares of company stock worth $2,159,808 in the last 90 days.
A number of large investors have recently modified their holdings of MPLX. First Allied Advisory Services Inc. bought a new stake in Mplx during the first quarter worth approximately $214,000. Raymond James Financial Services Advisors Inc. boosted its holdings in Mplx by 11.1% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 243,455 shares of the pipeline company’s stock worth $8,007,000 after buying an additional 24,236 shares in the last quarter. US Bancorp DE boosted its holdings in Mplx by 11.0% during the first quarter. US Bancorp DE now owns 62,075 shares of the pipeline company’s stock worth $2,041,000 after buying an additional 6,172 shares in the last quarter. Freestone Capital Holdings LLC boosted its holdings in Mplx by 42.1% during the first quarter. Freestone Capital Holdings LLC now owns 239,052 shares of the pipeline company’s stock worth $7,862,000 after buying an additional 70,829 shares in the last quarter. Finally, Barings LLC boosted its holdings in Mplx by 725.9% during the first quarter. Barings LLC now owns 114,800 shares of the pipeline company’s stock worth $3,776,000 after buying an additional 100,900 shares in the last quarter. Hedge funds and other institutional investors own 23.25% of the company’s stock.
MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. The company also provides fuels distribution services. 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; and transportation, storage, and distribution of crude oil and refined petroleum products.
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