Mplx (MPLX) Receives New Coverage from Analysts at Credit Suisse Group

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Credit Suisse Group assumed coverage on shares of Mplx (NYSE:MPLX) in a report released on Thursday, MarketBeat reports. The brokerage set an “outperform” rating and a $45.00 price target on the pipeline company’s stock. Credit Suisse Group’s price target points to a potential upside of 28.28% from the stock’s previous close.

MPLX has been the subject of several other reports. Goldman Sachs Group restated a “neutral” rating on shares of Mplx in a research report on Tuesday. Zacks Investment Research lowered shares of Mplx from a “hold” rating to a “strong sell” rating in a research report on Thursday. ValuEngine lowered shares of Mplx from a “sell” rating to a “strong sell” rating in a research report on Monday, July 2nd. Jefferies Financial Group upgraded shares of Mplx from a “hold” rating to a “buy” rating in a research report on Wednesday, July 18th. Finally, Stifel Nicolaus upped their price target on shares of Mplx from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, July 27th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. Mplx currently has a consensus rating of “Hold” and a consensus price target of $40.69.

Shares of NYSE MPLX opened at $35.08 on Thursday. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.61 and a quick ratio of 0.55. The company has a market cap of $27.54 billion, a P/E ratio of 33.09, a price-to-earnings-growth ratio of 2.50 and a beta of 1.39. Mplx has a 12-month low of $31.60 and a 12-month high of $39.38.

Mplx (NYSE:MPLX) last announced its earnings results on Thursday, July 26th. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.02). The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.31 billion. Mplx had a net margin of 24.22% and a return on equity of 14.43%. The business’s quarterly revenue was up 72.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 earnings per share. Equities research analysts anticipate that Mplx will post 2.31 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the business. Chicago Partners Investment Group LLC lifted its holdings in shares of Mplx by 2.6% in the second quarter. Chicago Partners Investment Group LLC now owns 288,642 shares of the pipeline company’s stock worth $9,854,000 after buying an additional 7,200 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Mplx by 4.2% in the second quarter. US Bancorp DE now owns 71,341 shares of the pipeline company’s stock worth $2,436,000 after buying an additional 2,865 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Mplx by 8.0% in the second quarter. Raymond James & Associates now owns 509,135 shares of the pipeline company’s stock worth $17,382,000 after buying an additional 37,740 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Mplx in the second quarter worth $194,035,000. Finally, Tiedemann Advisors LLC lifted its holdings in shares of Mplx by 949.9% in the second quarter. Tiedemann Advisors LLC now owns 82,798 shares of the pipeline company’s stock worth $2,826,000 after buying an additional 74,912 shares in the last quarter. Institutional investors and hedge funds own 31.21% of the company’s stock.

About Mplx

MPLX LP is a fee-based, growth-oriented limited partnership company. It is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids; and the gathering, transportation and storage of crude oil and refined petroleum products.

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Analyst Recommendations for Mplx (NYSE:MPLX)

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