MPLX LP (NYSE:MPLX) Has Just Had Its Price Objective Diminished by Investment Analysts at Evercore ISI to $37.00

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Analysis: MPLX LP (NYSE:MPLX) Stock Target Has Been Increased Today

In a comprehensive report revealed to investors by Evercore ISI on Friday, 4 December, the firm, MPLX LP (NYSE:MPLX), had their PT lowered to $37.00. Analusts right now have a solid Buy rating on the stock.

From a total of 10 analysts covering MPLX LP (NYSE:MPLX) stock, 5 rate it a ”Buy”, 0 a “Sell”, and 4 a ”Hold”. This means that 56% of the ratings are positive. The highest target price is $85 while the lowest target price is $37. The mean of all analyst targets is $56.3 with a 68.67% above today’s ($30.83) stock price. MPLX LP was the topic of 4 analyst reports since October 20, 2015 according to the firm StockzIntelligence Inc. Ladenburg Thalmann initiated shares on November 30 with “Buy” rating. Barclays Capital maintained MPLX stock in a recent report from November 2 with “Overweight” rating.

The stock decreased 5.57% or $1.82 on December 4, striking $30.83. Approximately shares of stock traded hands. MPLX LP (NYSE:MPLX) has declined 59.17% since May 4, 2015 and is downtrending. It has underperformed by 58.09% the S&P500.

MPLX LP is a fee-based master limited partnership 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 products. The company has a market cap of $2.53 billion. 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 16.88 P/E ratio. It has interest in a butane cavern in Neal, West Virginia with one million barrels of natural gas liquids storage capacity.

According to Zacks Investment Research, “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.” Get a free copy of the Zacks research report on MPLX LP (MPLX).

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