MPLX LP (MPLX) Gets a Buy Rating from Raymond James

By Austin Angelo

In a report released today, Justin Jenkins from Raymond James maintained a Buy rating on MPLX LP (MPLXResearch Report), with a price target of $32.00. The company’s shares closed last Monday at $27.40, close to its 52-week low of $25.85.

According to TipRanks.com, Jenkins is a 5-star analyst with an average return of 5.6% and a 62.6% success rate. Jenkins covers the Basic Materials sector, focusing on stocks such as Marathon Petroleum Corporation, Magellan Midstream, and Phillips 66.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for MPLX LP with a $33.57 average price target.

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MPLX LP’s market cap is currently $21.77B and has a P/E ratio of 11.91. The company has a Price to Book ratio of 3.29.

Based on the recent corporate insider activity of 92 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 engages in the transportation, storage, and distribution of crude oil and refined petroleum products; natural gas; and natural gas liquids. It operates through the Logistics and Storage, and Gathering and Processing segments.