Mplx (NYSE:MPLX) PT Raised to $46.00

Mplx (NYSE:MPLX) had its price target boosted by investment analysts at JPMorgan Chase & Co. from $45.00 to $46.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the pipeline company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 11.87% from the company’s previous close.

Several other analysts have also recently weighed in on MPLX. 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. Stifel Nicolaus raised their price target on Mplx from $45.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday. StockNews.com lowered Mplx from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Royal Bank of Canada raised their target price on Mplx from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Finally, Truist Financial upped their price target on shares of Mplx from $43.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Mplx has a consensus rating of “Moderate Buy” and an average target price of $45.11.

Mplx Price Performance

Mplx stock opened at $41.12 on Friday. The business has a 50 day simple moving average of $40.80 and a 200 day simple moving average of $38.19. Mplx has a one year low of $33.12 and a one year high of $42.90. The company has a market capitalization of $41.56 billion, a PE ratio of 10.60 and a beta of 1.35. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.72 and a quick ratio of 1.01.

Mplx (NYSE:MPLX) last issued its quarterly earnings data on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share (EPS) 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 31.70%. The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the previous year, the business posted $0.91 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts forecast that Mplx will post 4.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Mplx

Several institutional investors have recently modified their holdings of MPLX. JFS Wealth Advisors LLC acquired a new stake in Mplx during the 3rd quarter worth $33,000. PSI Advisors LLC grew its stake in shares of Mplx by 63.6% during the fourth quarter. PSI Advisors LLC now owns 900 shares of the pipeline company’s stock worth $33,000 after purchasing an additional 350 shares during the period. Quent Capital LLC bought a new stake in Mplx in the first quarter valued at about $35,000. HBC Financial Services PLLC acquired a new position in Mplx in the fourth quarter valued at about $36,000. Finally, Fortitude Family Office LLC bought a new position in Mplx during the fourth quarter worth about $41,000. 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.