Mplx (NYSE:MPLX) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Key Points

• Royal Bank of Canada raised MPLX’s price target from $60 to $64 and maintained an “outperform” rating, implying approximately 9.1% upside from the previous close.
• Analyst sentiment remains generally positive, with MarketBeat reporting a consensus “Moderate Buy” rating and an average target price of $63.20.
• MPLX’s latest quarterly results matched expectations at $1.06 in EPS, while revenue increased 10.3% year over year to $3.13 billion.

Mplx (NYSE:MPLX - Get Free Report) had its target price increased by equities research analysts at Royal Bank Of Canada from $60.00 to $64.00 in a report released on Friday,Benzinga reports. The firm currently has an "outperform" rating on the pipeline company's stock. Royal Bank Of Canada's price objective points to a potential upside of 9.07% from the company's previous close.

Several other analysts have also recently weighed in on MPLX. Wolfe Research cut shares of Mplx from an "outperform" rating to a "peer perform" rating in a report on Wednesday, July 29th. Weiss Ratings reaffirmed a "buy (a-)" rating on shares of Mplx in a research report on Thursday, August 13th. Barclays raised their target price on Mplx from $59.00 to $63.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Morgan Stanley increased their price target on shares of Mplx from $60.00 to $66.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 12th. Finally, Zacks Research upgraded shares of Mplx from a "strong sell" rating to a "hold" rating in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $63.20.

Mplx Stock Up 0.1%

Mplx stock opened at $58.68 on Friday. Mplx has a twelve month low of $47.80 and a twelve month high of $60.95. The stock's fifty day simple moving average is $57.66 and its 200-day simple moving average is $56.94. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 1.71. The firm has a market capitalization of $59.49 billion, a P/E ratio of 12.62, a P/E/G ratio of 5.57 and a beta of 0.48.

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 (EPS) for the quarter, meeting the consensus estimate of $1.06. Mplx had a return on equity of 32.83% and a net margin of 35.75%.The business had revenue of $3.13 billion for the quarter, compared to analysts' expectations of $3.14 billion. During the same period last year, the firm earned $1.03 earnings per share. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, equities analysts expect that Mplx will post 4.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mplx

Several institutional investors have recently modified their holdings of MPLX. Belfer Management LLC raised its holdings in Mplx by 2.4% during the 4th quarter. Belfer Management LLC now owns 7,849 shares of the pipeline company's stock worth $419,000 after buying an additional 181 shares during the period. Wealthstar Advisors LLC boosted its holdings in shares of Mplx by 1.5% during the fourth quarter. Wealthstar Advisors LLC now owns 12,598 shares of the pipeline company's stock worth $672,000 after purchasing an additional 190 shares during the period. Sei Investments Co. grew its position in Mplx by 0.9% during the first quarter. Sei Investments Co. now owns 22,175 shares of the pipeline company's stock valued at $1,266,000 after purchasing an additional 201 shares in the last quarter. Federation des caisses Desjardins du Quebec increased its stake in Mplx by 3.8% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 5,658 shares of the pipeline company's stock valued at $302,000 after buying an additional 208 shares during the period. Finally, Burford Brothers Inc. increased its stake in Mplx by 1.2% in the 4th quarter. Burford Brothers Inc. now owns 17,449 shares of the pipeline company's stock valued at $931,000 after buying an additional 209 shares during the period. Hedge funds and other institutional investors own 24.25% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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