Stifel Nicolaus Boosts Mplx (NYSE:MPLX) Price Target to $44.00
Mplx (NYSE:MPLX) had its price target raised by stock analysts at Stifel Nicolaus from $42.00 to $44.00 in a report released on Friday, July 27th. The brokerage presently has a “buy” rating on the pipeline company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 15.46% from the company’s current price.
Several other brokerages also recently weighed in on MPLX. ValuEngine raised Mplx from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 26th. Zacks Investment Research raised Mplx from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Wednesday, June 27th. Barclays dropped their price target on Mplx from $39.00 to $37.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 17th. Deutsche Bank began coverage on Mplx in a research report on Thursday, April 19th. They set a “buy” rating and a $40.00 price target for the company. Finally, Jefferies Financial Group upgraded Mplx from a “hold” rating to a “buy” rating in a research report on Wednesday, July 18th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $41.23.
Mplx traded down $0.60, reaching $38.11, during trading hours on Friday, Marketbeat reports. The company had a trading volume of 8,599,439 shares, compared to its average volume of 1,738,705. Mplx has a 1-year low of $31.60 and a 1-year high of $39.38. The company has a market capitalization of $30.74 billion, a PE ratio of 35.95, a PEG ratio of 2.75 and a beta of 1.36. The company has a current ratio of 0.61, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MPLX. Brookfield Asset Management Inc. grew its holdings in shares of Mplx by 363.1% during the 1st quarter. Brookfield Asset Management Inc. now owns 9,602,237 shares of the pipeline company’s stock worth $317,258,000 after purchasing an additional 7,528,733 shares during the period. Bank of Montreal Can purchased a new position in shares of Mplx during the 2nd quarter worth $194,035,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Mplx during the 2nd quarter worth $153,497,000. UBS Group AG grew its holdings in shares of Mplx by 74.6% during the 1st quarter. UBS Group AG now owns 7,627,920 shares of the pipeline company’s stock worth $252,027,000 after purchasing an additional 3,259,084 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in shares of Mplx by 237.5% during the 1st quarter. Wells Fargo & Company MN now owns 4,312,428 shares of the pipeline company’s stock worth $142,483,000 after purchasing an additional 3,034,805 shares during the period. Institutional investors and hedge funds own 31.33% of the company’s stock.
MPLX LP owns, operates, develops, and acquires midstream energy infrastructure assets. It operates in two segments, Logistics and Storage, and Gathering and Processing segments. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids (NGLs); and gathering, transportation, and storage of crude oil and refined petroleum products.
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