Mplx (NYSE:MPLX) Price Target Increased to $50.00 by Analysts at Wells Fargo & Company

Mplx (NYSE:MPLX) had its target price increased by analysts at Wells Fargo & Company from $47.00 to $50.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the pipeline company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 23.37% from the stock’s previous close.

Other research analysts have also issued reports about the company. Truist Financial increased their target price on Mplx from $43.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Barclays increased their target price on Mplx from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, July 12th. StockNews.com lowered Mplx from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 3rd. JPMorgan Chase & Co. increased their target price on Mplx from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Finally, Stifel Nicolaus increased their price target on Mplx from $45.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $46.22.

Mplx Trading Down 3.8 %

Shares of Mplx stock traded down $1.58 during trading hours on Wednesday, reaching $40.53. 1,173,220 shares of the company’s stock were exchanged, compared to its average volume of 1,986,612. Mplx has a 52-week low of $34.47 and a 52-week high of $43.42. The firm has a market capitalization of $41.19 billion, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 2.13 and a beta of 1.37. The company has a fifty day moving average of $41.98 and a 200-day moving average of $40.77. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 1.44.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.17. The company had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.96 billion. Mplx had a return on equity of 31.70% and a net margin of 34.96%. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.91 EPS. Sell-side analysts forecast that Mplx will post 4.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Mplx

A number of hedge funds have recently made changes to their positions in the business. Tortoise Capital Advisors L.L.C. raised its holdings in shares of Mplx by 2.4% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 14,825,905 shares of the pipeline company’s stock valued at $631,435,000 after buying an additional 353,324 shares during the last quarter. Chickasaw Capital Management LLC raised its holdings in Mplx by 2.5% during the second quarter. Chickasaw Capital Management LLC now owns 5,545,393 shares of the pipeline company’s stock worth $236,178,000 after purchasing an additional 136,013 shares in the last quarter. Energy Income Partners LLC raised its holdings in Mplx by 5.1% during the first quarter. Energy Income Partners LLC now owns 5,224,918 shares of the pipeline company’s stock worth $217,148,000 after purchasing an additional 255,211 shares in the last quarter. Clearbridge Investments LLC raised its holdings in Mplx by 4.0% during the first quarter. Clearbridge Investments LLC now owns 5,200,759 shares of the pipeline company’s stock worth $216,144,000 after purchasing an additional 201,500 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in Mplx by 23.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,028,327 shares of the pipeline company’s stock worth $111,200,000 after purchasing an additional 574,737 shares in the last quarter. Institutional investors own 24.25% of the company’s stock.

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.