MPLX LP (NYSE:MPLX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday, May 12th.
According to Zacks, “MPLX LP is a fee-based limited partnership formed to own, operate, develop and acquire crude oil, refined product and other hydrocarbon-based product pipelines and other midstream assets. The Company’s assets consist of a network of common carrier crude oil and product pipeline systems and associated storage assets in the Midwest and Gulf Coast regions of the United States. MPLX LP is based in Findlay, Ohio. “
Other analysts also recently issued research reports about the company. TheStreet upgraded MPLX from a “c” rating to a “b-” rating in a research report on Friday, April 28th. FBR & Co reissued a “hold” rating on shares of MPLX in a report on Thursday, March 2nd. Citigroup Inc. raised their price target on MPLX from $44.00 to $45.00 and gave the company a “buy” rating in a report on Monday, April 3rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $44.00 price target on shares of MPLX in a report on Wednesday, April 19th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $47.00 price target on shares of MPLX in a report on Friday, March 17th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $42.10.
MPLX (MPLX) traded up 0.30% on Friday, reaching $33.11. 2,739,125 shares of the company’s stock were exchanged. MPLX has a 1-year low of $30.09 and a 1-year high of $39.43. The company has a 50 day moving average price of $34.26 and a 200-day moving average price of $35.46. The company has a market capitalization of $12.41 billion, a PE ratio of 68.27 and a beta of 1.34.
MPLX (NYSE:MPLX) last announced its earnings results on Thursday, April 27th. The pipeline company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. MPLX had a return on equity of 4.01% and a net margin of 13.85%. The firm had revenue of $886 million during the quarter, compared to the consensus estimate of $691.38 million. During the same quarter in the prior year, the company earned ($0.33) EPS. The firm’s revenue for the quarter was up 37.4% compared to the same quarter last year. On average, equities research analysts anticipate that MPLX will post $0.94 earnings per share for the current year.
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In related news, CEO Gary R. Heminger bought 9,000 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was bought at an average cost of $33.26 per share, with a total value of $299,340.00. Following the completion of the purchase, the chief executive officer now owns 167,896 shares of the company’s stock, valued at approximately $5,584,220.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Large investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC increased its position in MPLX by 8.1% in the third quarter. HighTower Advisors LLC now owns 185,499 shares of the pipeline company’s stock valued at $6,280,000 after buying an additional 13,857 shares in the last quarter. Hsbc Holdings PLC increased its position in MPLX by 18.7% in the third quarter. Hsbc Holdings PLC now owns 953,068 shares of the pipeline company’s stock valued at $32,271,000 after buying an additional 150,000 shares in the last quarter. Eagle Global Advisors LLC increased its position in MPLX by 2.1% in the third quarter. Eagle Global Advisors LLC now owns 109,669 shares of the pipeline company’s stock valued at $3,713,000 after buying an additional 2,305 shares in the last quarter. Suntrust Banks Inc. increased its position in MPLX by 4.0% in the third quarter. Suntrust Banks Inc. now owns 7,412 shares of the pipeline company’s stock valued at $250,000 after buying an additional 287 shares in the last quarter. Finally, NBW Capital LLC increased its position in MPLX by 2.0% in the third quarter. NBW Capital LLC now owns 252,265 shares of the pipeline company’s stock worth $8,542,000 after buying an additional 4,963 shares during the period. Hedge funds and other institutional investors own 69.05% of the company’s stock.
MPLX LP is a master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets. The Company is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids (NGLs), and the gathering, transportation and storage of crude oil and refined petroleum products.
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