Mplx (NYSE:MPLX) Price Target Raised to $58.00 at Royal Bank of Canada

Mplx (NYSE:MPLX - Get Free Report) had its target price increased by stock analysts at Royal Bank of Canada from $55.00 to $58.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an "outperform" rating on the pipeline company's stock. Royal Bank of Canada's price target would indicate a potential upside of 8.05% from the company's current price.

A number of other equities analysts have also recently issued reports on the company. Morgan Stanley increased their target price on Mplx from $56.00 to $62.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 11th. Truist Financial increased their price objective on Mplx from $48.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, November 19th. StockNews.com cut Mplx from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 2nd. Raymond James upped their price target on Mplx from $55.00 to $60.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Finally, Barclays lifted their price objective on shares of Mplx from $52.00 to $55.00 and gave the company an "overweight" rating in a report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $54.00.

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Mplx Stock Down 0.7 %

Shares of NYSE:MPLX traded down $0.39 during trading on Monday, hitting $53.68. 5,142,755 shares of the company's stock traded hands, compared to its average volume of 1,746,354. The company has a 50-day moving average price of $52.60 and a 200-day moving average price of $48.35. Mplx has a 52 week low of $39.56 and a 52 week high of $54.87. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. The company has a market cap of $54.89 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 1.69 and a beta of 1.40.

Mplx (NYSE:MPLX - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share for the quarter, beating analysts' consensus estimates of $1.04 by $0.03. Mplx had a net margin of 36.18% and a return on equity of 31.94%. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.07 billion. During the same quarter in the previous year, the firm posted $1.10 earnings per share. The business's revenue was up 3.3% on a year-over-year basis. As a group, research analysts forecast that Mplx will post 4.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Shawn M. Lyon bought 4,000 shares of Mplx stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $52.75 per share, with a total value of $211,000.00. Following the acquisition, the vice president now owns 25,299 shares of the company's stock, valued at approximately $1,334,522.25. This represents a 18.78 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MPLX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Mplx by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,904,477 shares of the pipeline company's stock valued at $330,448,000 after buying an additional 266,998 shares during the period. Kayne Anderson Capital Advisors LP increased its stake in Mplx by 0.8% in the third quarter. Kayne Anderson Capital Advisors LP now owns 5,735,562 shares of the pipeline company's stock valued at $255,003,000 after acquiring an additional 45,271 shares during the last quarter. BROOKFIELD Corp ON lifted its stake in Mplx by 1.9% during the fourth quarter. BROOKFIELD Corp ON now owns 4,221,615 shares of the pipeline company's stock worth $202,047,000 after purchasing an additional 79,799 shares during the last quarter. Westwood Holdings Group Inc. lifted its stake in Mplx by 5.0% during the fourth quarter. Westwood Holdings Group Inc. now owns 2,279,124 shares of the pipeline company's stock worth $109,079,000 after purchasing an additional 108,228 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Mplx by 141.1% in the 4th quarter. FMR LLC now owns 1,985,181 shares of the pipeline company's stock valued at $95,011,000 after purchasing an additional 1,161,714 shares during the last quarter. Institutional investors 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.