In terms of analysts ratings, MPLX LP (MPLX), a diversified midstream MLP owned by Marathon Petroleum (MPC), places third among the seven midstream companies we’re looking at. Of the analysts covering the stock on June 18, 94.1% recommended “buy” and 5.9% recommended “hold.” Deutsche Bank last initiated coverage on MPLX with a “buy” rating, following Guggenheim and Morgan Stanley upgrading the stock to “buy.” Overall, MPLX has seen five rating updates since the beginning of this year: two downgrades, two upgrades, and one coverage initiation.
Peers Energy Transfer Partners (ETP) and Targa Resources (TRGP) have received “buy” ratings from 75.0% and 57.9% of analysts covering the stocks, respectively. MPLX is currently trading below the low range ($36) of analysts’ target prices. MPLX’s average target price of $41.70 implies a 19% upside based on its current price. For a quick look at MPLX’s fundamentals, read Here’s What Makes MPLX an Interesting Stock. In the next article, we’ll look at analysts’ ratings for Antero Midstream Partners LP (AM).