MPLX LP (MPLX) Gets a Buy Rating from Barclays

Barclays analyst Theresa Chen reiterated a Buy rating on MPLX LP (MPLX) yesterday and set a price target of $38. The company’s shares closed yesterday at $33.67.

MPLX LP has an analyst consensus of Strong Buy, with a price target consensus of $40, a 18.8% upside from current levels. In a report released yesterday, Credit Suisse also maintained a Buy rating on the stock with a $39 price target.

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Based on MPLX LP’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.64 billion and net profit of $434 million. In comparison, last year the company earned revenue of $1.04 billion and had a net profit of $238 million.

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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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