Mplx (NYSE:MPLX) Price Target Raised to $55.00

Mplx (NYSE:MPLX) had its target price lifted by investment analysts at Barclays from $52.00 to $55.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the pipeline company’s stock. Barclays‘s price objective indicates a potential upside of 3.05% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada upped their price target on shares of Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. StockNews.com lowered Mplx from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 2nd. Raymond James raised their target price on shares of Mplx from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Wells Fargo & Company lifted their price objective on shares of Mplx from $54.00 to $59.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, Truist Financial lifted their price target on Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.40.

Mplx Stock Up 1.9 %

NYSE MPLX traded up $0.99 during mid-day trading on Friday, reaching $53.37. 831,053 shares of the company’s stock traded hands, compared to its average volume of 1,737,924. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. Mplx has a 1-year low of $39.56 and a 1-year high of $54.79. The company has a fifty day simple moving average of $52.02 and a 200-day simple moving average of $47.94. The company has a market cap of $54.58 billion, a price-to-earnings ratio of 12.67, a P/E/G ratio of 1.69 and a beta of 1.40.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.07 billion. Mplx had a net margin of 36.18% and a return on equity of 31.94%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.10 earnings per share. As a group, equities research analysts expect that Mplx will post 4.41 EPS for the current year.

Insider Buying and Selling at Mplx

In other Mplx news, VP Shawn M. Lyon acquired 4,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $52.75 per share, with a total value of $211,000.00. Following the transaction, the vice president now owns 25,299 shares of the company’s stock, valued at approximately $1,334,522.25. This trade represents a 18.78 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MPLX. FMR LLC increased its holdings in shares of Mplx by 141.1% during the 4th quarter. FMR LLC now owns 1,985,181 shares of the pipeline company’s stock worth $95,011,000 after purchasing an additional 1,161,714 shares during the period. Strategic Financial Concepts LLC increased its stake in Mplx by 5,070.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 977,794 shares of the pipeline company’s stock valued at $46,797,000 after acquiring an additional 958,881 shares during the period. Raymond James Financial Inc. acquired a new position in Mplx in the 4th quarter valued at approximately $41,917,000. Neuberger Berman Group LLC lifted its position in shares of Mplx by 221.9% in the 4th quarter. Neuberger Berman Group LLC now owns 643,995 shares of the pipeline company’s stock worth $30,822,000 after acquiring an additional 443,910 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Mplx by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,904,477 shares of the pipeline company’s stock worth $330,448,000 after purchasing an additional 266,998 shares in the last quarter. 24.25% of the stock is owned by institutional investors.

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.