Mplx Lp (NASDAQ:MPLX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Saturday, Market Beat reports.

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. “

A number of other research analysts also recently issued reports on MPLX. Deutsche Bank dropped their target price on shares of Mplx Lp from $67.00 to $49.00 and set a “buy” rating on the stock in a research report on Tuesday, October 20th. Ladenburg Thalmann started coverage on shares of Mplx Lp in a research report on Monday, November 30th. They set a “buy” rating and a $79.00 target price on the stock. Howard Weil upgraded shares of Mplx Lp from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $51.00 to $65.00 in a research report on Tuesday, December 15th. They noted that the move was a valuation call. Evercore ISI dropped their target price on shares of Mplx Lp from $44.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, December 4th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Mplx Lp from $56.00 to $49.00 in a research report on Friday, December 4th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $55.89.

Shares of Mplx Lp (NASDAQ:MPLX) traded up 7.55% during mid-day trading on Friday, reaching $29.79. 2,565,803 shares of the company’s stock were exchanged. The company has a market cap of $2.39 billion and a PE ratio of 16.17. Mplx Lp has a 52-week low of $23.92 and a 52-week high of $85.57. The company’s 50-day moving average price is $33.17 and its 200 day moving average price is $42.67.

Mplx Lp (NASDAQ:MPLX) last issued its quarterly earnings results on Thursday, October 29th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by $0.16. The firm had revenue of $148.60 million for the quarter, compared to analysts’ expectations of $158.80 million. During the same quarter in the prior year, the business earned $0.37 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities research analysts predict that Mplx Lp will post $1.86 EPS for the current year.

Several hedge funds have recently bought and sold shares of MPLX. BB&T Securities purchased a new stake in Mplx Lp during the fourth quarter valued at about $274,000. Hilton Capital Management purchased a new stake in Mplx Lp during the fourth quarter valued at about $279,000. Meeder Asset Management purchased a new stake in Mplx Lp during the fourth quarter valued at about $342,000. UMB Bank purchased a new stake in Mplx Lp during the fourth quarter valued at about $347,000. Finally, Chevy Chase Trust Holdings purchased a new stake in Mplx Lp during the fourth quarter valued at about $429,000.

MPLX LP is a fee-based master limited partnership (NASDAQ:MPLX) formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire pipelines and other midstream assets related to the transportation and storage of crude oil, refined products and other hydrocarbon-based products. The Company’s assets include interest in a network of common carrier crude oil and product pipeline systems and storage assets in the Midwest and Gulf Coast regions of the United States. It has interest in a butane cavern in Neal, West Virginia with one million barrels of natural gas liquids storage capacity. It charges tariff for transporting crude oil, refined products and other hydrocarbon-based products through its pipelines and at its barge dock, and fees for storing crude oil and products at its storage facilities. It also operates additional crude oil and product pipelines owned by MPC and third parties for which the Company is paid operating fees. It also has interest in Pipe Line Holdings.

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