Mplx (NYSE:MPLX) Stock Price Target Lowered at Morgan Stanley

Key Points

• Morgan Stanley lowered MPLX’s price target from $66 to $64 while maintaining an “equal weight” rating, implying 12.64% potential upside from the prior close.
• Analyst sentiment remains generally positive, with MPLX carrying a consensus “Moderate Buy” rating and an average price target of $63.60.
• MPLX reported quarterly earnings of $1.06 per share, matching estimates, while revenue rose 10.3% year over year to $3.13 billion.

Mplx (NYSE:MPLX - Get Free Report) had its price objective decreased by investment analysts at Morgan Stanley from $66.00 to $64.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an "equal weight" rating on the pipeline company's stock. Morgan Stanley's price target suggests a potential upside of 12.64% from the stock's previous close.

Several other research firms have also recently weighed in on MPLX. Weiss Ratings reiterated a "buy (a-)" rating on shares of Mplx in a research report on Thursday, August 13th. Barclays lifted their price objective on shares of Mplx from $59.00 to $63.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Wolfe Research downgraded Mplx from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, July 29th. Royal Bank Of Canada boosted their target price on Mplx from $60.00 to $64.00 and gave the company an "outperform" rating in a research note on Friday, August 21st. Finally, Stifel Nicolaus started coverage on Mplx in a research note on Thursday, September 10th. They issued a "hold" rating and a $65.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $63.60.

Mplx Price Performance

Shares of NYSE MPLX traded down $0.01 during midday trading on Tuesday, reaching $56.82. 253,207 shares of the company were exchanged, compared to its average volume of 1,672,524. Mplx has a one year low of $47.94 and a one year high of $60.95. The stock has a market cap of $57.60 billion, a P/E ratio of 12.23, a PEG ratio of 5.34 and a beta of 0.49. 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 stock's 50-day moving average price is $58.65 and its 200-day moving average price is $57.15.

Mplx (NYSE:MPLX - Get Free Report) last posted its earnings results on Tuesday, August 4th. The pipeline company reported $1.06 EPS for the quarter, meeting the consensus estimate of $1.06. The firm had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.14 billion. Mplx had a return on equity of 32.83% and a net margin of 35.75%. The business's quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the company earned $1.03 earnings per share. On average, sell-side analysts anticipate that Mplx will post 4.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Trust Co. of Vermont bought a new position in Mplx in the 2nd quarter worth about $28,000. Assetmark Inc. raised its holdings in shares of Mplx by 81.5% in the 1st quarter. Assetmark Inc. now owns 559 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 251 shares in the last quarter. Axiom Investment Management LLC bought a new position in shares of Mplx during the first quarter valued at approximately $46,000. Western Wealth Management LLC bought a new stake in Mplx during the 1st quarter valued at $65,000. Finally, Global Assets Advisory LLC bought a new stake in Mplx during the first quarter valued at about $88,000. 24.25% of the stock is owned by hedge funds and other institutional investors.

About Mplx

MPLX LP NYSE: MPLX is a diversified master limited partnership that owns and operates midstream energy infrastructure in the United States. The company provides transportation, storage and logistics services for crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs), primarily under long-term commercial arrangements with energy producers, refiners and other customers.

MPLX's assets include crude oil and refined-products pipelines, storage facilities, marine and inland waterway terminals, rail and truck transportation operations, and gathering and processing systems.

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