Mplx (NYSE:MPLX) Given New $55.00 Price Target at UBS Group

Mplx (NYSE:MPLX) had its target price increased by stock analysts at UBS Group from $51.00 to $55.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the pipeline company’s stock. UBS Group’s target price would indicate a potential upside of 16.97% from the company’s current price.

Other analysts have also recently issued research reports about the company. Wells Fargo & Company boosted their target price on Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Royal Bank of Canada raised their target price on shares of Mplx from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Barclays upped their price target on shares of Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Bank of America initiated coverage on Mplx in a research note on Thursday, October 17th. They set an “underperform” rating and a $43.00 price objective on the stock. Finally, StockNews.com upgraded Mplx from a “buy” rating to a “strong-buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.44.

Mplx Stock Up 1.3 %

MPLX opened at $47.02 on Friday. Mplx has a 12 month low of $35.31 and a 12 month high of $47.62. The business has a 50-day moving average of $44.51 and a two-hundred day moving average of $42.71. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95. The stock has a market capitalization of $47.99 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 1.24 and a beta of 1.37.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.04). Mplx had a net margin of 36.77% and a return on equity of 32.70%. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same period in the prior year, the firm earned $0.89 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. On average, research analysts expect that Mplx will post 4.31 earnings per share for the current year.

Hedge Funds Weigh In On Mplx

A number of institutional investors have recently made changes to their positions in MPLX. Crewe Advisors LLC bought a new position in shares of Mplx during the first quarter worth about $41,000. CWM LLC grew its position in shares of Mplx by 73.3% in the 2nd quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock worth $45,000 after acquiring an additional 451 shares in the last quarter. Summit Securities Group LLC increased its holdings in shares of Mplx by 450.0% in the 2nd quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company’s stock valued at $47,000 after acquiring an additional 900 shares during the last quarter. Cedar Wealth Management LLC acquired a new stake in shares of Mplx during the 3rd quarter valued at approximately $51,000. Finally, Redwood Wealth Management Group LLC bought a new position in Mplx during the second quarter worth $67,000. 24.25% of the stock is owned by institutional investors and hedge funds.

Mplx Company Profile

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.