Mplx (NYSE:MPLX) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Mplx from a "buy" to a "hold" in a report released Saturday.
• Despite the downgrade, the analyst mix remains positive with one Strong Buy, six Buys and five Holds giving a consensus rating of "Moderate Buy" and a consensus price target of $61.89, while several firms recently raised targets (UBS to $73, JPMorgan to $60, Barclays to $59).
• Mplx reported $1.17 EPS versus $1.10 expected and $5.99 billion in revenue, showing strong margins (net margin 37.8%, ROE 34.4%); the stock trades with a market cap of $57.0 billion, a PE of 11.65 and a 52‑week range of $46.72–$59.98.

Mplx (NYSE:MPLX - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

MPLX has been the topic of a number of other reports. Barclays increased their price objective on shares of Mplx from $55.00 to $59.00 and gave the company an "overweight" rating in a research note on Friday. Stifel Nicolaus increased their price objective on shares of Mplx from $57.00 to $59.00 and gave the company a "buy" rating in a research note on Wednesday, March 4th. JPMorgan Chase & Co. increased their price objective on shares of Mplx from $58.00 to $60.00 and gave the company a "neutral" rating in a research note on Tuesday, March 10th. UBS Group increased their price objective on shares of Mplx from $64.00 to $73.00 and gave the company a "buy" rating in a research note on Monday, March 16th. Finally, Weiss Ratings reissued a "buy (a-)" rating on shares of Mplx in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Mplx presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.89.

Mplx Stock Performance

NYSE:MPLX opened at $56.14 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.23 and a debt-to-equity ratio of 1.66. Mplx has a fifty-two week low of $46.72 and a fifty-two week high of $59.98. The stock has a market cap of $56.99 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 5.16 and a beta of 0.56. The firm's fifty day simple moving average is $57.37 and its 200-day simple moving average is $54.31.

Mplx (NYSE:MPLX - Get Free Report) last issued its quarterly earnings data on Tuesday, February 3rd. The pipeline company reported $1.17 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.07. The firm had revenue of $5.99 billion for the quarter, compared to analysts' expectations of $3.23 billion. Mplx had a net margin of 37.79% and a return on equity of 34.37%. The firm's revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.07 EPS. Analysts expect that Mplx will post 4.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MPLX. Solstein Capital LLC purchased a new position in shares of Mplx during the 3rd quarter worth about $25,000. FSC Wealth Advisors LLC purchased a new position in shares of Mplx during the 2nd quarter worth about $29,000. EQ Wealth Advisors LLC purchased a new position in shares of Mplx during the 4th quarter worth about $32,000. Caldwell Trust Co purchased a new position in shares of Mplx during the 2nd quarter worth about $33,000. Finally, Wiser Advisor Group LLC purchased a new position in shares of Mplx during the 3rd quarter worth about $38,000. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

About Mplx

MPLX LP NYSE: MPLX is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership's asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.

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