Mplx (NYSE:MPLX) Given “Overweight” Rating at US Capital Advisors

Mplx (NYSE:MPLX)‘s stock had its “overweight” rating reiterated by analysts at US Capital Advisors in a research note issued on Tuesday, Zacks.com reports. US Capital Advisors also issued estimates for Mplx’s Q2 2021 earnings at $0.63 EPS, Q3 2021 earnings at $0.65 EPS, Q4 2021 earnings at $0.71 EPS, FY2021 earnings at $2.68 EPS, Q1 2022 earnings at $0.69 EPS, Q2 2022 earnings at $0.71 EPS, Q3 2022 earnings at $0.73 EPS, Q4 2022 earnings at $0.73 EPS, FY2022 earnings at $2.87 EPS and FY2023 earnings at $3.04 EPS.

Other research analysts also recently issued reports about the stock. Wolfe Research downgraded shares of Mplx from an “outperform” rating to a “peer perform” rating and set a $30.00 target price on the stock. in a research note on Friday, July 16th. They noted that the move was a valuation call. Wells Fargo & Company lifted their target price on shares of Mplx from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, June 24th. TheStreet raised shares of Mplx from a “c” rating to a “b-” rating in a research report on Tuesday, May 4th. Morgan Stanley boosted their price objective on shares of Mplx from $32.00 to $33.00 and gave the company an “equal weight” rating in a research report on Friday, June 18th. Finally, Raymond James boosted their price objective on shares of Mplx from $30.00 to $33.00 and gave the company an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $28.11.

Shares of MPLX opened at $27.52 on Tuesday. The company has a market cap of $28.33 billion, a price-to-earnings ratio of 11.01 and a beta of 1.90. The company has a current ratio of 1.15, a quick ratio of 1.04 and a debt-to-equity ratio of 1.64. Mplx has a fifty-two week low of $15.05 and a fifty-two week high of $31.40. The business has a 50 day simple moving average of $29.21.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, May 4th. The pipeline company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.07. The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.12 billion. Mplx had a net margin of 30.76% and a return on equity of 22.03%. The business’s quarterly revenue was up 135.8% on a year-over-year basis. During the same period in the previous year, the business posted ($2.60) EPS. Equities research analysts forecast that Mplx will post 2.75 EPS for the current year.

In related news, COO Gregory Scott Floerke sold 2,500 shares of the stock in a transaction that occurred on Thursday, May 6th. The shares were sold at an average price of $27.00, for a total value of $67,500.00. Following the completion of the sale, the chief operating officer now directly owns 83,923 shares of the company’s stock, valued at approximately $2,265,921. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional investors have recently added to or reduced their stakes in the stock. Tortoise Capital Advisors L.L.C. grew its holdings in Mplx by 6,608.7% during the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 18,712,587 shares of the pipeline company’s stock valued at $479,604,000 after buying an additional 18,433,656 shares in the last quarter. Brookfield Asset Management Inc. grew its holdings in Mplx by 55.5% during the 4th quarter. Brookfield Asset Management Inc. now owns 9,643,513 shares of the pipeline company’s stock valued at $208,782,000 after buying an additional 3,440,850 shares in the last quarter. Salient Capital Advisors LLC grew its holdings in Mplx by 53.6% during the 1st quarter. Salient Capital Advisors LLC now owns 5,029,337 shares of the pipeline company’s stock valued at $128,902,000 after buying an additional 1,754,632 shares in the last quarter. Miller Howard Investments Inc. NY grew its holdings in Mplx by 75.4% during the 1st quarter. Miller Howard Investments Inc. NY now owns 2,380,907 shares of the pipeline company’s stock valued at $61,023,000 after buying an additional 1,023,517 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Mplx by 11.8% during the 4th quarter. JPMorgan Chase & Co. now owns 8,909,070 shares of the pipeline company’s stock valued at $192,880,000 after buying an additional 943,250 shares in the last quarter. 27.79% of the stock is owned by institutional investors.

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, exchange, storage, and marketing of natural gas liquids; transportation, storage, distribution, and marketing of crude oil and refined petroleum products, as well as other hydrocarbon-based products; and sale of residue gas and condensate.

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Analyst Recommendations for Mplx (NYSE:MPLX)

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