Mplx (NYSE:MPLX) Stock Rating Lowered by Weiss Ratings

Key Points

• Weiss Ratings has downgraded Mplx's rating from "buy (a-)" to "buy (b+)".
• Mplx's stock has recently hit $48.10, down 1.5% on the day, with a twelve-month low of $43.54 and a high of $54.87.
• Analysts maintain an average rating of "Moderate Buy" for Mplx, with a consensus price target of $55.89.

Mplx (NYSE:MPLX - Get Free Report) was downgraded by equities research analysts at Weiss Ratings from a "buy (a-)" rating to a "buy (b+)" rating in a report issued on Wednesday,Weiss Ratings reports.

Several other research analysts have also recently issued reports on the stock. Stifel Nicolaus upped their target price on shares of Mplx from $57.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, August 14th. Wells Fargo & Company lowered their target price on shares of Mplx from $60.00 to $59.00 and set an "overweight" rating for the company in a report on Tuesday, September 23rd. Morgan Stanley upped their target price on shares of Mplx from $57.00 to $60.00 and gave the company an "equal weight" rating in a report on Tuesday, August 26th. Wall Street Zen cut shares of Mplx from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Barclays increased their price target on shares of Mplx from $52.00 to $53.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Mplx has an average rating of "Moderate Buy" and a consensus price target of $55.89.

Mplx Stock Down 1.5%

Shares of Mplx stock traded down $0.75 during trading hours on Wednesday, hitting $48.10. The company had a trading volume of 265,511 shares, compared to its average volume of 1,581,618. The company's 50-day moving average is $50.49 and its two-hundred day moving average is $50.79. Mplx has a twelve month low of $43.54 and a twelve month high of $54.87. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.03 and a quick ratio of 0.97. The company has a market cap of $49.01 billion, a P/E ratio of 11.43, a price-to-earnings-growth ratio of 1.34 and a beta of 0.68.

Mplx (NYSE:MPLX - Get Free Report) last issued its earnings results on Tuesday, August 5th. The pipeline company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.05). Mplx had a net margin of 35.44% and a return on equity of 30.95%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the company posted $1.15 EPS. The company's quarterly revenue was down 1.6% on a year-over-year basis. Analysts anticipate that Mplx will post 4.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mplx

A number of large investors have recently bought and sold shares of the company. Colonial River Investments LLC raised its position in Mplx by 1.8% during the 1st quarter. Colonial River Investments LLC now owns 11,603 shares of the pipeline company's stock worth $621,000 after buying an additional 200 shares during the last quarter. Axxcess Wealth Management LLC raised its position in Mplx by 1.8% during the 1st quarter. Axxcess Wealth Management LLC now owns 11,603 shares of the pipeline company's stock worth $621,000 after buying an additional 200 shares during the last quarter. Bessemer Group Inc. raised its position in Mplx by 0.8% during the 2nd quarter. Bessemer Group Inc. now owns 25,081 shares of the pipeline company's stock worth $1,291,000 after buying an additional 200 shares during the last quarter. Magnus Financial Group LLC raised its position in Mplx by 4.9% during the 2nd quarter. Magnus Financial Group LLC now owns 4,602 shares of the pipeline company's stock worth $237,000 after buying an additional 215 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in Mplx by 7.7% during the 2nd quarter. Fifth Third Bancorp now owns 3,165 shares of the pipeline company's stock worth $163,000 after buying an additional 227 shares during the last quarter. Hedge funds and other institutional investors own 24.25% of the company's stock.

Mplx Company Profile

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.

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