Wells Fargo & Company Issues Positive Forecast for Mplx (NYSE:MPLX) Stock Price

Mplx (NYSE:MPLX) had its price objective increased by analysts at Wells Fargo & Company from $50.00 to $53.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the pipeline company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 13.34% from the stock’s previous close.

MPLX has been the topic of a number of other research reports. Bank of America assumed coverage on shares of Mplx in a report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price objective on the stock. StockNews.com lowered shares of Mplx from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Barclays increased their price target on shares of Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. UBS Group boosted their price objective on shares of Mplx from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Royal Bank of Canada increased their target price on Mplx from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat, Mplx presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

Mplx Stock Up 0.7 %

Shares of NYSE:MPLX traded up $0.32 during trading on Thursday, hitting $46.76. The stock had a trading volume of 410,845 shares, compared to its average volume of 1,817,655. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.41. Mplx has a 12 month low of $35.07 and a 12 month high of $47.00. The company has a market capitalization of $47.72 billion, a PE ratio of 11.33, a PEG ratio of 1.21 and a beta of 1.37. The firm’s fifty day moving average is $44.01 and its 200 day moving average is $42.49.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.04). The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.09 billion. Mplx had a net margin of 35.95% and a return on equity of 32.68%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.89 EPS. Analysts anticipate that Mplx will post 4.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Mplx

Large investors have recently made changes to their positions in the business. Crewe Advisors LLC purchased a new stake in Mplx during the 1st quarter valued at approximately $41,000. CWM LLC lifted its stake in Mplx by 73.3% in the 2nd quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock worth $45,000 after purchasing an additional 451 shares in the last quarter. Summit Securities Group LLC boosted its holdings in shares of Mplx by 450.0% during the 2nd quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company’s stock valued at $47,000 after purchasing an additional 900 shares during the last quarter. Redwood Wealth Management Group LLC purchased a new position in shares of Mplx during the second quarter valued at about $67,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Mplx in the second quarter worth about $88,000. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

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.