MPLX LP Receives a New Rating from Top AnalystBy Carrie Williams
According to TipRanks.com, Scotto is a top 25 analyst with an average return of 24.6% and a 75.3% success rate. Scotto covers the Basic Materials sector, focusing on stocks such as American Midstreampartners Lp, Sanchez Production Partners, and Enbridge Energy Management.
Currently, the analyst consensus on MPLX LP is Strong Buy and the average price target is $45, representing a 25.9% upside.
In a report issued on March 7, Jefferies also reiterated a Buy rating on the stock with a $44 price target.
Based on MPLX LP’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $716 million and quarterly net profit of $78 million. In comparison, last year the company earned revenue of $269 million and had a GAAP net loss of $20 million.
Based on the recent corporate insider activity of 110 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MPLX in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
MPLX LP is a fee-based, growth-oriented master limited partnership. 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. The company operates through two segments: Logistics and Storage & Gathering and Processing. The Logistics and Storage segment includes transportation and storage of crude oil, refined products and other hydrocarbon-based products. The Gathering and Processing segment engages in gathering and processing of natural gas. MPLX was founded in March 27, 2012 and is headquartered in Findlay, OH.