Mplx (NYSE:MPLX) Given New $52.00 Price Target at Barclays

Mplx (NYSE:MPLX - Get Free Report) had its price target reduced by analysts at Barclays from $55.00 to $52.00 in a report released on Monday,Benzinga reports. The firm presently has an "overweight" rating on the pipeline company's stock. Barclays's price objective would suggest a potential upside of 0.96% from the stock's current price.

Several other analysts have also weighed in on MPLX. Wells Fargo & Company raised their price objective on shares of Mplx from $54.00 to $59.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Raymond James lifted their price target on shares of Mplx from $55.00 to $60.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. StockNews.com cut shares of Mplx from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 2nd. Royal Bank of Canada lifted their price objective on shares of Mplx from $55.00 to $58.00 and gave the company an "outperform" rating in a report on Monday, March 17th. Finally, Morgan Stanley increased their price objective on Mplx from $56.00 to $62.00 and gave the company an "equal weight" rating in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, Mplx has a consensus rating of "Moderate Buy" and an average target price of $55.50.

Mplx Price Performance

Shares of MPLX stock traded up $0.98 during midday trading on Monday, reaching $51.51. 630,469 shares of the company were exchanged, compared to its average volume of 1,743,170. The company has a market cap of $52.66 billion, a P/E ratio of 12.23, a PEG ratio of 1.69 and a beta of 0.76. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. Mplx has a 12 month low of $39.95 and a 12 month high of $54.87. The company's 50 day moving average price is $51.23 and its two-hundred day moving average price is $50.24.

Mplx (NYSE:MPLX - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $1.10 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.03. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $3.15 billion. Mplx had a return on equity of 31.94% and a net margin of 36.18%. The business's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company posted $0.98 EPS. On average, sell-side analysts expect that Mplx will post 4.41 earnings per share for the current year.

Insider Activity at Mplx

In other Mplx news, VP Shawn M. Lyon bought 4,000 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $52.75 per share, with a total value of $211,000.00. Following the completion of the transaction, the vice president now directly owns 25,299 shares in the company, valued at approximately $1,334,522.25. The trade was a 18.78% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Hedge Funds Weigh In On Mplx

Institutional investors have recently added to or reduced their stakes in the stock. Kayne Anderson Capital Advisors LP grew its position in Mplx by 38.2% during the first quarter. Kayne Anderson Capital Advisors LP now owns 7,788,063 shares of the pipeline company's stock worth $416,817,000 after buying an additional 2,153,490 shares in the last quarter. FMR LLC raised its position in Mplx by 141.1% in the 4th quarter. FMR LLC now owns 1,985,181 shares of the pipeline company's stock worth $95,011,000 after buying an additional 1,161,714 shares during the last quarter. Strategic Financial Concepts LLC grew its holdings in shares of Mplx by 5,070.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 977,794 shares of the pipeline company's stock worth $46,797,000 after acquiring an additional 958,881 shares during the period. Raymond James Financial Inc. bought a new stake in Mplx during the fourth quarter valued at about $41,917,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Mplx by 14.9% in the first quarter. JPMorgan Chase & Co. now owns 5,045,968 shares of the pipeline company's stock worth $270,060,000 after purchasing an additional 654,489 shares during the last quarter. Institutional investors own 24.25% of the company's stock.

About Mplx

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Crude Oil and Products Logistics and Natural Gas and NGL Services segments. The Crude Oil and Products Logistics segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.