In a report released today, Michael Blum from Wells Fargo maintained a Hold rating on MPLX (MPLX). The company’s shares closed last Monday at $11.25, close to its 52-week low of $9.65.
According to TipRanks.com, Blum is a 5-star analyst with an average return of 9.8% and a 58.4% success rate. Blum covers the Basic Materials sector, focusing on stocks such as Enterprise Products Partners, Dcp Midstream Partners, and Holly Energy Partners.
MPLX has an analyst consensus of Hold, with a price target consensus of $25.57, a 133.3% upside from current levels. In a report issued on March 11, Merrill Lynch also downgraded the stock to Hold with a $18.00 price target.
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Based on MPLX’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.28 billion and GAAP net loss of $581 million. In comparison, last year the company earned revenue of $1.64 billion and had a net profit of $434 million.
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MPLX LP engages in the operation of midstream energy infrastructure and logistics assets; and distribution fuels services. It operates through the Logistics and Storage (L&S), and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products and water.
