Zacks Research Downgrades Mplx (NYSE:MPLX) to Strong Sell

Key Points

• Zacks Research has downgraded Mplx from a "hold" to a "strong sell" rating, indicating a negative outlook for the stock.
• The shares of Mplx missed analysts' earnings consensus, reporting $1.03 EPS compared to expectations of $1.08 EPS, with revenue also falling short at $2.79 billion.
• Mplx has a consensus rating of "Moderate Buy" from analysts, with eight rating it as a buy despite the recent downgrade.

Mplx (NYSE:MPLX - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a note issued to investors on Wednesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Company cut their price objective on shares of Mplx from $60.00 to $59.00 and set an "overweight" rating on the stock in a research note on Tuesday, September 23rd. Wall Street Zen cut shares of Mplx from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Barclays lifted their price objective on shares of Mplx from $52.00 to $53.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Weiss Ratings cut shares of Mplx from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Wednesday. Finally, Morgan Stanley lifted their price objective on shares of Mplx from $57.00 to $60.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 26th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Mplx has a consensus rating of "Moderate Buy" and a consensus target price of $55.89.

Mplx Price Performance

Shares of NYSE MPLX opened at $48.26 on Wednesday. Mplx has a fifty-two week low of $43.54 and a fifty-two week high of $54.87. The firm's 50-day simple moving average is $50.41 and its 200 day simple moving average is $50.75. The company has a quick ratio of 0.97, a current ratio of 1.03 and a debt-to-equity ratio of 1.40. The stock has a market cap of $49.18 billion, a P/E ratio of 11.46, a P/E/G ratio of 1.32 and a beta of 0.68.

Mplx (NYSE:MPLX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The pipeline company reported $1.03 earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the firm earned $1.15 earnings per share. Mplx's revenue for the quarter was down 1.6% compared to the same quarter last year. Equities analysts expect that Mplx will post 4.41 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MPLX. Private Wealth Asset Management LLC acquired a new position in Mplx during the second quarter worth about $26,000. Elevation Point Wealth Partners LLC purchased a new position in Mplx in the 2nd quarter worth about $26,000. FSC Wealth Advisors LLC purchased a new position in Mplx in the 2nd quarter worth about $29,000. Operose Advisors LLC increased its stake in Mplx by 216.2% in the 2nd quarter. Operose Advisors LLC now owns 585 shares of the pipeline company's stock worth $30,000 after purchasing an additional 400 shares in the last quarter. Finally, EQ Wealth Advisors LLC purchased a new position in Mplx in the 2nd quarter worth about $31,000. 24.25% of the stock is owned by institutional investors and hedge funds.

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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