Mplx (NYSE:MPLX) Stock Rated Neutral in New Coverage at JPMorgan Chase & Co.

Key Points

• JPMorgan initiated coverage of MPLX with a Neutral rating and a $62 price target, implying approximately 6.7% upside from the stock’s quoted price of $58.09.
• Analyst sentiment remains generally positive, with a consensus rating of Moderate Buy and an average price target of $63.80 from 14 analysts.
• MPLX’s latest quarterly results met expectations, reporting $1.06 in EPS and $3.13 billion in revenue, with revenue increasing 10.3% year over year.

Analysts at JPMorgan Chase & Co. initiated coverage on shares of Mplx (NYSE:MPLX - Get Free Report) in a research report issued to clients and investors on Tuesday. The firm set a "neutral" rating and a $62.00 price target on the pipeline company's stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 6.72% from the stock's current price.

Other equities analysts also recently issued reports about the company. Wells Fargo & Company raised their price target on Mplx from $61.00 to $63.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. Weiss Ratings restated a "buy (a-)" rating on shares of Mplx in a report on Thursday, August 13th. Wolfe Research lowered Mplx from an "outperform" rating to a "peer perform" rating in a report on Wednesday, July 29th. Stifel Nicolaus began coverage on Mplx in a research note on Thursday, September 10th. They issued a "hold" rating and a $65.00 target price on the stock. Finally, Royal Bank Of Canada boosted their price objective on Mplx from $60.00 to $64.00 and gave the stock an "outperform" rating in a research note on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $63.80.

Mplx Stock Down 0.1%

Mplx stock traded down $0.09 during midday trading on Tuesday, reaching $58.09. The stock had a trading volume of 31,588 shares, compared to its average volume of 1,664,470. The company has a market capitalization of $58.90 billion, a P/E ratio of 12.49, a PEG ratio of 5.53 and a beta of 0.49. Mplx has a 12 month low of $49.43 and a 12 month high of $60.95. The company has a fifty day moving average price of $58.45 and a two-hundred day moving average price of $57.13. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 1.71.

Mplx (NYSE:MPLX - Get Free Report) last released its earnings results on Tuesday, August 4th. The pipeline company reported $1.06 earnings per share for the quarter, meeting analysts' consensus estimates 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 net margin of 35.75% and a return on equity of 32.83%. The company's revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 EPS. As a group, equities analysts expect that Mplx will post 4.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

Mplx Company Profile

MPLX LP NYSE: MPLX is a master limited partnership that owns and operates midstream energy infrastructure in the United States. The company provides services for the gathering, processing, transportation, storage and marketing of crude oil, natural gas and natural gas liquids (NGLs).

MPLX's assets include crude oil and refined-products pipelines, natural gas gathering and processing systems, NGL fractionation facilities, storage terminals and marine transportation infrastructure. Through its logistics and storage operations, the company supports the movement of hydrocarbons from producing regions to refineries, export facilities and other domestic markets.

The company serves several major U.S.

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