Mplx (MPLX) Stock Rating Lowered by Zacks Investment Research

Mplx (NYSE:MPLX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

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. “

Several other analysts have also recently commented on the company. Citigroup dropped their price target on Mplx from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, November 29th. Bank of America boosted their price target on Mplx from $41.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday, November 2nd. Evercore ISI initiated coverage on Mplx in a research report on Tuesday, February 5th. They set an “outperform” rating for the company. UBS Group dropped their price target on Mplx to $41.00 and set an “overweight” rating for the company in a research report on Thursday, February 7th. Finally, Barclays initiated coverage on Mplx in a research report on Thursday, December 13th. They set an “overweight” rating and a $40.00 price target for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $40.50.

Mplx stock opened at $33.95 on Tuesday. The company has a market capitalization of $26.45 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 2.14 and a beta of 1.34. Mplx has a 12 month low of $28.32 and a 12 month high of $39.01. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.77 and a quick ratio of 0.70.

Mplx (NYSE:MPLX) last posted its quarterly earnings data on Thursday, February 7th. The pipeline company reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.16). The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Mplx had a net margin of 28.30% and a return on equity of 26.12%. The firm’s quarterly revenue was up 58.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 earnings per share. As a group, equities analysts predict that Mplx will post 2.55 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lindbrook Capital LLC acquired a new position in Mplx during the fourth quarter worth $28,000. We Are One Seven LLC acquired a new position in Mplx during the fourth quarter worth $52,000. IFP Advisors Inc boosted its stake in Mplx by 65.0% during the fourth quarter. IFP Advisors Inc now owns 2,543 shares of the pipeline company’s stock worth $77,000 after buying an additional 1,002 shares during the last quarter. Belpointe Asset Management LLC acquired a new position in Mplx during the third quarter worth $104,000. Finally, Whittier Trust Co. boosted its stake in Mplx by 11,150.0% during the fourth quarter. Whittier Trust Co. now owns 3,150 shares of the pipeline company’s stock worth $95,000 after buying an additional 3,122 shares during the last quarter. 31.28% of the stock is currently owned by institutional investors.

Mplx Company Profile

MPLX LP owns, operates, develops, and acquires midstream energy infrastructure assets. It operates in two segments, Logistics and Storage, and Gathering and Processing segments. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids (NGLs); and gathering, transportation, and storage of crude oil and refined petroleum products.

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