Mplx Lp (NYSE:MPLX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Mplx Lp (NYSE:MPLX) has received a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $45.11.

A number of research firms have weighed in on MPLX. StockNews.com cut shares of Mplx from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 24th. Stifel Nicolaus upped their price objective on shares of Mplx from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. UBS Group upped their price objective on shares of Mplx from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Barclays upped their price objective on shares of Mplx from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Finally, Truist Financial upped their price objective on shares of Mplx from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd.

Institutional Investors Weigh In On Mplx

Several institutional investors and hedge funds have recently bought and sold shares of MPLX. Alps Advisors Inc. raised its stake in Mplx by 18.9% during the third quarter. Alps Advisors Inc. now owns 28,771,793 shares of the pipeline company’s stock worth $1,023,413,000 after acquiring an additional 4,579,152 shares during the period. Nomura Holdings Inc. acquired a new stake in shares of Mplx in the fourth quarter valued at approximately $67,253,000. Citigroup Inc. increased its stake in shares of Mplx by 60.6% in the third quarter. Citigroup Inc. now owns 2,028,514 shares of the pipeline company’s stock valued at $72,154,000 after purchasing an additional 765,618 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Mplx by 53.9% in the first quarter. BNP Paribas Financial Markets now owns 1,826,484 shares of the pipeline company’s stock valued at $75,909,000 after purchasing an additional 639,851 shares during the period. Finally, CIBC Private Wealth Group LLC increased its stake in shares of Mplx by 23.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,028,327 shares of the pipeline company’s stock valued at $111,200,000 after purchasing an additional 574,737 shares during the period. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Stock Up 0.4 %

Shares of Mplx stock opened at $42.90 on Friday. The company has a fifty day moving average price of $41.21 and a 200 day moving average price of $39.75. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 1.44. Mplx has a twelve month low of $33.93 and a twelve month high of $43.07. The stock has a market cap of $43.59 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth ratio of 2.13 and a beta of 1.37.

Mplx (NYSE:MPLX) last announced its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Mplx had a return on equity of 31.70% and a net margin of 34.96%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the company posted $0.91 earnings per share. Equities research analysts forecast that Mplx will post 4.01 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 13th. Stockholders of record on Friday, May 3rd were paid a $0.85 dividend. The ex-dividend date was Thursday, May 2nd. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.93%. Mplx’s dividend payout ratio (DPR) is presently 87.63%.

Mplx Company Profile

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, 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 renewables; and sale of residue gas and condensate.