Truist Financial Raises Mplx (NYSE:MPLX) Price Target to $55.00

Mplx (NYSE:MPLX) had its price target lifted by investment analysts at Truist Financial from $48.00 to $55.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the pipeline company’s stock. Truist Financial’s price target indicates a potential upside of 15.84% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company upped their price objective on shares of Mplx from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Bank of America started coverage on shares of Mplx in a research note on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price objective for the company. Royal Bank of Canada increased their price target on Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday. UBS Group lifted their target price on Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a report on Friday. Finally, Barclays lifted their price target on shares of Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $49.44.

Mplx Stock Performance

NYSE:MPLX traded up $0.02 during mid-day trading on Tuesday, reaching $47.48. The stock had a trading volume of 214,664 shares, compared to its average volume of 1,854,353. Mplx has a twelve month low of $35.51 and a twelve month high of $47.71. The business has a 50 day simple moving average of $44.61 and a 200 day simple moving average of $42.77. The firm has a market capitalization of $48.37 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 1.28 and a beta of 1.37. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99.

Mplx (NYSE:MPLX) last announced its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.01 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 firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the previous year, the firm posted $0.89 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, analysts expect that Mplx will post 4.31 earnings per share for the current fiscal year.

Institutional Trading of Mplx

Several institutional investors have recently modified their holdings of the stock. ING Groep NV increased its position in shares of Mplx by 69.8% in the third quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock valued at $294,699,000 after buying an additional 2,725,000 shares in the last quarter. Catalyst Capital Advisors LLC lifted its holdings in shares of Mplx by 7.4% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 280,885 shares of the pipeline company’s stock worth $12,488,000 after purchasing an additional 19,320 shares during the last quarter. Sei Investments Co. raised its stake in Mplx by 47.4% during the 1st quarter. Sei Investments Co. now owns 51,740 shares of the pipeline company’s stock valued at $2,150,000 after acquiring an additional 16,637 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Mplx by 22.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 81,884 shares of the pipeline company’s stock valued at $3,487,000 after purchasing an additional 14,782 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its stake in Mplx by 27.2% during the third quarter. Lindbrook Capital LLC now owns 52,128 shares of the pipeline company’s stock valued at $2,318,000 after purchasing an additional 11,144 shares during the last quarter. Hedge funds and other institutional investors own 24.25% of the company’s stock.

About Mplx

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.