Zacks Investment Research Lowers Mplx (MPLX) to Hold

Mplx (NYSE:MPLX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

According to Zacks, “MPLX LP is a fee-based limited partnership formed to own, operate, develop and acquire crude oil, refined product and other hydrocarbon-based product pipelines and other midstream assets. The Company’s assets consist of a network of common carrier crude oil and product pipeline systems and associated storage assets in the Midwest and Gulf Coast regions of the United States. MPLX LP is based in Findlay, Ohio. “

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Other analysts have also recently issued research reports about the stock. Guggenheim upgraded shares of Mplx from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Monday, April 16th. Mizuho set a $41.00 price objective on shares of Mplx and gave the stock a “buy” rating in a research note on Wednesday, April 11th. Citigroup dropped their price objective on shares of Mplx from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Tuesday, April 10th. Stifel Nicolaus set a $42.00 price objective on shares of Mplx and gave the stock a “buy” rating in a research note on Tuesday, May 1st. Finally, Deutsche Bank initiated coverage on shares of Mplx in a research note on Thursday, April 19th. They issued a “buy” rating and a $40.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $41.08.

Mplx opened at $33.98 on Thursday, according to Marketbeat.com. The company has a quick ratio of 0.76, a current ratio of 0.83 and a debt-to-equity ratio of 1.70. The stock has a market cap of $26.98 billion, a PE ratio of 32.06, a P/E/G ratio of 2.49 and a beta of 1.28. Mplx has a 52-week low of $31.60 and a 52-week high of $39.38.

Mplx (NYSE:MPLX) last posted its earnings results on Monday, April 30th. The pipeline company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.19. Mplx had a net margin of 21.88% and a return on equity of 10.43%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the company posted $0.19 EPS. Mplx’s quarterly revenue was up 60.3% compared to the same quarter last year. equities research analysts expect that Mplx will post 2.27 earnings per share for the current year.

Large investors have recently modified their holdings of the company. SWS Partners acquired a new position in shares of Mplx in the 4th quarter valued at approximately $149,000. Captrust Financial Advisors bought a new stake in shares of Mplx during the 4th quarter valued at approximately $179,000. Pitcairn Co. bought a new stake in shares of Mplx during the 4th quarter valued at approximately $229,000. Advisor Group Inc. grew its holdings in shares of Mplx by 24.7% during the 4th quarter. Advisor Group Inc. now owns 7,135 shares of the pipeline company’s stock valued at $253,000 after purchasing an additional 1,411 shares during the last quarter. Finally, Koch Industries Inc. bought a new stake in shares of Mplx during the 1st quarter valued at approximately $239,000. Institutional investors own 31.19% of the company’s stock.

About Mplx

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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