Mplx (NYSE:MPLX) PT Raised to $50.00 at Royal Bank of Canada

Mplx (NYSE:MPLX) had its price objective lifted by analysts at Royal Bank of Canada from $47.00 to $50.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the pipeline company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 12.83% from the company’s current price.

Several other research analysts also recently weighed in on MPLX. Wells Fargo & Company boosted their target price on shares of Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. StockNews.com raised shares of Mplx from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 10th. Barclays raised their target price 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. Finally, UBS Group lifted their target price on shares of Mplx from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. One equities 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.67.

Mplx Trading Down 0.3 %

Shares of MPLX opened at $44.32 on Wednesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.99 and a quick ratio of 0.95. Mplx has a 1-year low of $35.06 and a 1-year high of $45.24. The stock has a market cap of $45.03 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 1.22 and a beta of 1.37. The firm has a 50 day simple moving average of $43.31 and a 200-day simple moving average of $42.17.

Mplx (NYSE:MPLX) last released its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.17. Mplx had a return on equity of 32.68% and a net margin of 35.95%. The company had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter last year, the business posted $0.91 earnings per share. Mplx’s revenue was up 13.5% compared to the same quarter last year. Equities analysts forecast that Mplx will post 4.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Mplx

A number of institutional investors have recently added to or reduced their stakes in MPLX. Quent Capital LLC acquired a new position in shares of Mplx in the 1st quarter valued at about $35,000. Pacifica Partners Inc. acquired a new position in Mplx during the first quarter valued at approximately $41,000. Crewe Advisors LLC acquired a new position in Mplx during the first quarter valued at approximately $41,000. Register Financial Advisors LLC purchased a new stake in Mplx during the first quarter worth approximately $42,000. Finally, CWM LLC increased its position in shares of Mplx by 73.3% in the second 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. Hedge funds and other 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.