Mplx (NYSE:MPLX) Price Target Increased to $48.00 by Analysts at Truist Financial

Mplx (NYSE:MPLX) had its price objective lifted by equities research analysts at Truist Financial from $43.00 to $48.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the pipeline company’s stock. Truist Financial’s price target would suggest a potential upside of 17.94% from the stock’s previous close.

A number of other analysts have also issued reports on the stock. Royal Bank of Canada boosted their target price on shares of Mplx from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. UBS Group boosted their target price on shares of Mplx from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Barclays boosted 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. Raymond James upped their price objective on shares of Mplx from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Finally, StockNews.com lowered shares of Mplx from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $45.00.

Mplx Price Performance

MPLX traded down $0.04 during trading hours on Thursday, hitting $40.70. The company’s stock had a trading volume of 220,348 shares, compared to its average volume of 2,186,436. The business’s 50-day moving average price is $40.74 and its 200-day moving average price is $38.13. Mplx has a 12 month low of $33.12 and a 12 month high of $42.90. The stock has a market cap of $41.14 billion, a price-to-earnings ratio of 10.49 and a beta of 1.35. The company has a current ratio of 1.07, a quick ratio of 1.01 and a debt-to-equity ratio of 1.52.

Mplx (NYSE:MPLX) last posted its quarterly earnings data on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). Mplx had a net margin of 34.96% and a return on equity of 32.13%. The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter last year, the firm earned $0.91 EPS. The company’s revenue was up 4.9% on a year-over-year basis. Sell-side analysts expect that Mplx will post 4.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mplx

Several hedge funds have recently modified their holdings of MPLX. Raymond James & Associates increased its holdings in Mplx by 2.3% in the 3rd quarter. Raymond James & Associates now owns 363,397 shares of the pipeline company’s stock worth $12,926,000 after buying an additional 8,257 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in Mplx by 4.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 473,693 shares of the pipeline company’s stock worth $16,849,000 after buying an additional 20,143 shares during the period. Independent Advisor Alliance increased its holdings in Mplx by 405.7% in the 3rd quarter. Independent Advisor Alliance now owns 47,395 shares of the pipeline company’s stock worth $1,686,000 after buying an additional 38,022 shares during the period. Bank of New York Mellon Corp acquired a new position in Mplx in the 3rd quarter worth approximately $209,000. Finally, Brown Advisory Inc. acquired a new position in Mplx in the 3rd quarter worth approximately $404,000. 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.