Shares of Mplx Lp (NYSE:MPLX – Get Rating) have received an average recommendation of “Moderate Buy” from the nine brokerages that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $36.71.
Several research analysts recently commented on MPLX shares. Morgan Stanley raised their price target on shares of Mplx from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 26th. Raymond James lifted their price target on shares of Mplx from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, April 20th. Finally, StockNews.com assumed coverage on shares of Mplx in a research note on Thursday, March 31st. They set a “buy” rating for the company.
Mplx stock opened at $29.66 on Friday. The firm has a 50-day moving average price of $31.30 and a 200-day moving average price of $31.86. The firm has a market capitalization of $30.02 billion, a PE ratio of 10.02 and a beta of 1.58. The company has a current ratio of 0.63, a quick ratio of 0.58 and a debt-to-equity ratio of 1.64. Mplx has a 12-month low of $26.01 and a 12-month high of $35.49.
Mplx (NYSE:MPLX – Get Rating) last released its earnings results on Tuesday, May 3rd. The pipeline company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.01. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.45 billion. Mplx had a net margin of 30.72% and a return on equity of 26.83%. The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the business earned $0.68 EPS. As a group, sell-side analysts predict that Mplx will post 3.25 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Friday, May 6th were paid a dividend of $0.705 per share. This represents a $2.82 annualized dividend and a dividend yield of 9.51%. The ex-dividend date of this dividend was Thursday, May 5th. Mplx’s dividend payout ratio is currently 95.27%.
In related news, COO Gregory Scott Floerke sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 19th. The shares were sold at an average price of $35.00, for a total value of $87,500.00. Following the completion of the transaction, the chief operating officer now owns 80,212 shares of the company’s stock, valued at $2,807,420. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Large investors have recently modified their holdings of the stock. LPL Financial LLC increased its position in shares of Mplx by 13.5% during the third quarter. LPL Financial LLC now owns 122,639 shares of the pipeline company’s stock worth $3,492,000 after purchasing an additional 14,622 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Mplx by 1.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 14,475,655 shares of the pipeline company’s stock worth $428,335,000 after purchasing an additional 170,707 shares in the last quarter. Private Advisor Group LLC acquired a new position in shares of Mplx during the fourth quarter worth $254,000. Pacer Advisors Inc. increased its position in shares of Mplx by 1.6% during the fourth quarter. Pacer Advisors Inc. now owns 21,153 shares of the pipeline company’s stock worth $626,000 after purchasing an additional 330 shares in the last quarter. Finally, First Republic Investment Management Inc. increased its position in shares of Mplx by 13.3% during the fourth quarter. First Republic Investment Management Inc. now owns 78,330 shares of the pipeline company’s stock worth $2,318,000 after purchasing an additional 9,170 shares in the last quarter. 24.73% of the stock is owned by institutional investors.
Mplx Company Profile (Get Rating)
MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, exchange, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products; and sale of residue gas and condensate.
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