Mplx (NYSE:MPLX) Downgraded to Buy Rating by StockNews.com

Mplx (NYSE:MPLX - Get Free Report) was downgraded by research analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Friday.

MPLX has been the subject of a number of other research reports. Wells Fargo & Company raised their price objective on Mplx from $54.00 to $59.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. UBS Group lifted their price target on shares of Mplx from $51.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Barclays increased their price objective on shares of Mplx from $49.00 to $52.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. Royal Bank of Canada lifted their target price on shares of Mplx from $50.00 to $52.00 and gave the company an "outperform" rating in a research report on Monday, November 18th. Finally, Raymond James increased their price target on shares of Mplx from $55.00 to $60.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $52.11.

Mplx Stock Performance

Shares of Mplx stock traded up $0.80 during midday trading on Friday, hitting $54.63. The company had a trading volume of 1,486,044 shares, compared to its average volume of 1,860,392. Mplx has a 1-year low of $38.44 and a 1-year high of $54.68. The business's 50 day simple moving average is $50.10 and its two-hundred day simple moving average is $46.59. The stock has a market cap of $55.66 billion, a PE ratio of 12.98, a P/E/G ratio of 2.38 and a beta of 1.42. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95.

Mplx (NYSE:MPLX - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.03. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.07 billion. Mplx had a net margin of 36.18% and a return on equity of 31.94%. The business's quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the business posted $1.10 EPS. As a group, equities analysts predict that Mplx will post 4.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Mplx

Institutional investors and hedge funds have recently bought and sold shares of the business. VSM Wealth Advisory LLC bought a new position in shares of Mplx in the fourth quarter valued at about $31,000. Cedar Wealth Management LLC bought a new position in shares of Mplx in the third quarter worth about $51,000. Geneos Wealth Management Inc. raised its stake in shares of Mplx by 56.3% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,135 shares of the pipeline company's stock worth $54,000 after acquiring an additional 409 shares during the last quarter. Generali Asset Management SPA SGR bought a new stake in shares of Mplx during the fourth quarter valued at approximately $56,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Mplx by 139.6% in the fourth quarter. Russell Investments Group Ltd. now owns 1,785 shares of the pipeline company's stock valued at $85,000 after purchasing an additional 1,040 shares in the last quarter. Institutional investors and hedge funds own 24.25% of the company's stock.

Mplx Company Profile

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Logistics and Storage (L&S) and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.