Mplx (NYSE:MPLX) Now Covered by Analysts at Stifel Nicolaus

Key Points

• Stifel Nicolaus initiated coverage of MPLX with a “hold” rating and a $65 price target, implying approximately 9% upside from the previous close.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $63.80 based on one Strong Buy, six Buys, and seven Holds.
• MPLX shares fell 1.0% to $59.63, while the company reported quarterly earnings of $1.06 per share, in line with estimates, and revenue of $3.13 billion, up 10.3% year over year.

Stifel Nicolaus started coverage on shares of Mplx (NYSE:MPLX - Get Free Report) in a report released on Thursday. The firm set a "hold" rating and a $65.00 price target on the pipeline company's stock. Stifel Nicolaus' price objective would indicate a potential upside of 9.01% from the stock's previous close.

A number of other research analysts also recently weighed in on MPLX. Zacks Research raised Mplx from a "strong sell" rating to a "hold" rating in a research note on Friday, June 5th. Wells Fargo & Company boosted their price objective on Mplx from $61.00 to $63.00 and gave the company an "overweight" rating in a report on Wednesday, August 5th. Morgan Stanley upped their target price on Mplx from $60.00 to $66.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 12th. Wolfe Research cut Mplx from an "outperform" rating to a "peer perform" rating in a report on Wednesday, July 29th. Finally, Royal Bank Of Canada increased their target price on Mplx from $60.00 to $64.00 and gave the stock an "outperform" rating in a report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $63.80.

Mplx Stock Down 1.0%

NYSE:MPLX traded down $0.60 during trading hours on Thursday, reaching $59.63. The company had a trading volume of 25,679 shares, compared to its average volume of 1,710,686. Mplx has a twelve month low of $47.80 and a twelve month high of $60.95. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 1.71. The firm has a market cap of $60.46 billion, a price-to-earnings ratio of 12.83, a P/E/G ratio of 5.66 and a beta of 0.48. The business's 50-day simple moving average is $58.45 and its two-hundred day simple moving average is $57.25.

Mplx (NYSE:MPLX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $1.06 earnings per share for the quarter, meeting the consensus estimate of $1.06. The firm had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.14 billion. Mplx had a net margin of 35.75% and a return on equity of 32.83%. The business's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.03 earnings per share. On average, equities analysts expect that Mplx will post 4.28 earnings per share for the current year.

Institutional Investors Weigh In On Mplx

Institutional investors and hedge funds have recently bought and sold shares of the stock. Energy Income Partners LLC purchased a new stake in Mplx in the 2nd quarter valued at about $303,072,000. Clearbridge Investments LLC lifted its holdings in Mplx by 7.9% during the fourth quarter. Clearbridge Investments LLC now owns 2,343,689 shares of the pipeline company's stock worth $125,083,000 after acquiring an additional 172,000 shares during the period. Attessa Capital LLC purchased a new position in Mplx in the second quarter worth $1,042,000. Americana Partners LLC increased its position in shares of Mplx by 38.6% during the 4th quarter. Americana Partners LLC now owns 760,306 shares of the pipeline company's stock valued at $40,578,000 after purchasing an additional 211,694 shares during the last quarter. Finally, Militia Capital Management LLC bought a new stake in shares of Mplx during the 1st quarter worth $3,824,000. 24.25% of the stock is owned by hedge funds and other institutional investors.

About Mplx

MPLX LP NYSE: MPLX is a master limited partnership that owns and operates midstream energy infrastructure in the United States. The company provides transportation, storage and processing services for crude oil, refined products, natural gas and natural gas liquids (NGLs), supporting producers, refiners and other energy customers.

MPLX's assets include gathering and processing systems, pipelines, storage facilities, fractionation plants, marine terminals and inland and coastal logistics operations.

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