Mplx (MPLX) Now Covered by Credit Suisse Group
Credit Suisse Group started coverage on shares of Mplx (NYSE:MPLX) in a research note issued on Thursday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $45.00 price target on the pipeline company’s stock. Credit Suisse Group’s target price indicates a potential upside of 28.28% from the stock’s previous close.
Other research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Mplx from a “buy” rating to a “hold” rating in a report on Thursday, July 5th. ValuEngine cut shares of Mplx from a “sell” rating to a “strong sell” rating in a report on Monday, July 2nd. Goldman Sachs Group reaffirmed a “neutral” rating on shares of Mplx in a report on Tuesday. Stifel Nicolaus lifted their target price on shares of Mplx from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, July 27th. Finally, Jefferies Financial Group raised shares of Mplx from a “hold” rating to a “buy” rating in a report on Wednesday, July 18th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $40.69.
Shares of NYSE MPLX opened at $35.08 on Thursday. Mplx has a 1 year low of $31.60 and a 1 year high of $39.38. The stock 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. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.61 and a quick ratio of 0.55.
Hedge funds have recently made changes to their positions in the company. Chicago Partners Investment Group LLC grew its stake 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 acquiring an additional 7,200 shares during the period. US Bancorp DE grew its stake 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 acquiring an additional 2,865 shares during the period. Raymond James & Associates grew its stake 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 acquiring an additional 37,740 shares during the period. Bank of Montreal Can bought a new stake in shares of Mplx in the second quarter worth approximately $194,035,000. Finally, Tiedemann Advisors LLC grew its stake 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 acquiring an additional 74,912 shares during the period. Hedge funds and other institutional investors own 31.21% of the company’s stock.
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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