Mplx (NYSE:MPLX) Price Target Raised to $59.00 at Wells Fargo & Company

Mplx (NYSE:MPLX) had its price objective boosted by Wells Fargo & Company from $54.00 to $59.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the pipeline company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 10.23% from the company’s current price.

A number of other equities analysts also recently issued reports on MPLX. Truist Financial lifted their price objective on shares of Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. UBS Group increased their target price on Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Royal Bank of Canada lifted their price objective on Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Bank of America began coverage on Mplx in a report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price objective on the stock. Finally, StockNews.com cut Mplx from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.13.

Mplx Trading Down 0.5 %

Shares of MPLX stock traded down $0.30 during trading hours on Thursday, reaching $53.52. The company had a trading volume of 299,191 shares, compared to its average volume of 1,888,741. The company has a 50 day moving average of $49.56 and a 200 day moving average of $45.97. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95. The firm has a market cap of $54.53 billion, a price-to-earnings ratio of 12.63, a P/E/G ratio of 2.33 and a beta of 1.42. Mplx has a 1-year low of $37.47 and a 1-year high of $54.18.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, February 4th. The pipeline company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.04 by $0.03. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.07 billion. Mplx had a net margin of 36.77% and a return on equity of 32.70%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.10 earnings per share. On average, equities research analysts anticipate that Mplx will post 4.18 EPS for the current year.

Insiders Place Their Bets

In other news, VP Carl Kristopher Hagedorn sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $47.24, for a total transaction of $188,960.00. Following the completion of the sale, the vice president now owns 14,750 shares in the company, valued at approximately $696,790. The trade was a 21.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MPLX. ING Groep NV grew its holdings in Mplx by 69.8% during the 3rd quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock valued at $294,699,000 after buying an additional 2,725,000 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its stake in Mplx by 0.8% during the third quarter. Kayne Anderson Capital Advisors LP now owns 5,735,562 shares of the pipeline company’s stock worth $255,003,000 after acquiring an additional 45,271 shares during the last quarter. Chickasaw Capital Management LLC increased its position in shares of Mplx by 0.6% in the third quarter. Chickasaw Capital Management LLC now owns 5,580,052 shares of the pipeline company’s stock worth $248,089,000 after acquiring an additional 34,659 shares in the last quarter. Duff & Phelps Investment Management Co. raised its position in Mplx by 4.9% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,933,486 shares of the pipeline company’s stock valued at $85,963,000 after purchasing an additional 90,793 shares during the period. Finally, Allianz Asset Management GmbH lifted its position in shares of Mplx by 1.2% during the fourth quarter. Allianz Asset Management GmbH now owns 1,568,200 shares of the pipeline company’s stock worth $75,054,000 after purchasing an additional 17,900 shares during the last quarter. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Mplx Company Profile

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Logistics and Storage (L&S) and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.