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

Mplx (NYSE:MPLX) had its price objective hoisted by equities researchers at Wells Fargo & Company from $54.00 to $59.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the pipeline company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 10.89% from the company’s previous close.

Several other research firms have also issued reports on MPLX. UBS Group lifted their price objective on shares of Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Truist Financial boosted their target price on Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Barclays lifted their price target on shares of Mplx from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Royal Bank of Canada upped their price objective on shares of Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Finally, Bank of America began coverage on shares of Mplx in a research report on Thursday, October 17th. They set an “underperform” rating and a $43.00 target price for the company. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to MarketBeat.com, Mplx currently has an average rating of “Moderate Buy” and a consensus target price of $52.11.

Mplx Price Performance

Shares of NYSE:MPLX opened at $53.20 on Thursday. The firm has a market cap of $54.20 billion, a price-to-earnings ratio of 12.55, a P/E/G ratio of 2.33 and a beta of 1.42. Mplx has a 1 year low of $37.58 and a 1 year high of $54.18. 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 business has a fifty day simple moving average of $49.62 and a 200 day simple moving average of $46.02.

Mplx (NYSE:MPLX) last announced its quarterly earnings results on Tuesday, February 4th. The pipeline company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.03. Mplx had a return on equity of 32.70% and a net margin of 36.77%. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.07 billion. During the same period in the previous year, the company earned $1.10 EPS. The firm’s revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts predict that Mplx will post 4.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Mplx

In other news, VP Carl Kristopher Hagedorn sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $47.24, for a total transaction of $188,960.00. Following the sale, the vice president now directly owns 14,750 shares in the company, valued at approximately $696,790. The trade was a 21.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Institutional Investors Weigh In On Mplx

A number of institutional investors have recently bought and sold shares of the business. Captrust Financial Advisors lifted its holdings in shares of Mplx by 0.4% during the 3rd quarter. Captrust Financial Advisors now owns 60,475 shares of the pipeline company’s stock worth $2,689,000 after acquiring an additional 231 shares during the period. GraniteShares Advisors LLC raised its position in Mplx by 0.5% in the fourth quarter. GraniteShares Advisors LLC now owns 51,441 shares of the pipeline company’s stock worth $2,462,000 after purchasing an additional 237 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its stake in Mplx by 1.4% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 19,701 shares of the pipeline company’s stock worth $876,000 after purchasing an additional 268 shares during the period. Cherry Creek Investment Advisors Inc. boosted its holdings in Mplx by 2.0% during the third quarter. Cherry Creek Investment Advisors Inc. now owns 14,204 shares of the pipeline company’s stock valued at $632,000 after purchasing an additional 279 shares in the last quarter. Finally, FORA Capital LLC grew its stake in shares of Mplx by 2.2% in the 3rd quarter. FORA Capital LLC now owns 15,320 shares of the pipeline company’s stock valued at $681,000 after purchasing an additional 332 shares during the period. Institutional investors and hedge funds own 24.25% of the company’s stock.

About Mplx

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.