Mplx (NYSE:MPLX) Stock Rating Upgraded by Truist Financial

Key Points

• Truist Financial upgraded Mplx to a strong-buy, joining recent price-target increases from Wells Fargo and UBS; the stock's consensus rating is a Moderate Buy with an average price target of $61.56.
• MPLX's latest quarter beat expectations — EPS $1.17 vs. $1.10 and revenue $5.99B vs. $3.23B — and showed strong profitability (ROE 34.37%, net margin 37.79%).
• Shares trade around $59.19 (12‑month range $44.60–$59.98) with a market capitalization of roughly $60.1B and a P/E of 12.28.

Mplx (NYSE:MPLX - Get Free Report) was upgraded by analysts at Truist Financial to a "strong-buy" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other brokerages have also recently weighed in on MPLX. Wells Fargo & Company lifted their price objective on Mplx from $59.00 to $63.00 and gave the company an "overweight" rating in a report on Friday, March 13th. UBS Group increased their target price on Mplx from $64.00 to $73.00 and gave the stock a "buy" rating in a report on Monday, March 16th. Raymond James Financial cut Mplx from an "outperform" rating to a "market perform" rating in a research report on Monday, January 5th. JPMorgan Chase & Co. upped their price objective on shares of Mplx from $58.00 to $60.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 10th. Finally, Citigroup increased their price objective on shares of Mplx from $54.00 to $55.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 10th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Mplx currently has a consensus rating of "Moderate Buy" and an average price target of $61.56.

Mplx Stock Up 0.9%

Shares of MPLX opened at $59.19 on Monday. The company has a current ratio of 1.23, a quick ratio of 1.18 and a debt-to-equity ratio of 1.66. Mplx has a 12 month low of $44.60 and a 12 month high of $59.98. The firm's 50 day moving average is $57.12 and its 200-day moving average is $53.80. The stock has a market capitalization of $60.08 billion, a PE ratio of 12.28, a P/E/G ratio of 5.35 and a beta of 0.56.

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

Hedge Funds Weigh In On Mplx

A number of institutional investors have recently modified their holdings of MPLX. NewEdge Advisors LLC boosted its stake in Mplx by 4.1% in the first quarter. NewEdge Advisors LLC now owns 24,049 shares of the pipeline company's stock valued at $1,287,000 after buying an additional 939 shares in the last quarter. Geode Capital Management LLC raised its stake in Mplx by 6.6% during the second quarter. Geode Capital Management LLC now owns 16,557 shares of the pipeline company's stock worth $853,000 after acquiring an additional 1,021 shares in the last quarter. Franklin Resources Inc. raised its stake in Mplx by 6.6% during the second quarter. Franklin Resources Inc. now owns 12,920 shares of the pipeline company's stock worth $666,000 after acquiring an additional 800 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Mplx by 3.0% in the second quarter. Steward Partners Investment Advisory LLC now owns 68,278 shares of the pipeline company's stock worth $3,517,000 after acquiring an additional 2,013 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Mplx by 14.9% in the second quarter. Advisors Asset Management Inc. now owns 128,590 shares of the pipeline company's stock worth $6,624,000 after acquiring an additional 16,708 shares during the last quarter. Institutional investors and hedge funds 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.

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