Mplx (NYSE:MPLX) Given New $45.00 Price Target at Barclays

Mplx (NYSE:MPLX) had its price objective reduced by Barclays from $46.00 to $45.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have an overweight rating on the pipeline company’s stock.

Other analysts have also issued research reports about the company. StockNews.com upgraded Mplx from a buy rating to a strong-buy rating in a report on Sunday, August 11th. Wells Fargo & Company raised their price objective on Mplx from $47.00 to $50.00 and gave the stock an overweight rating in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $47.00 target price on shares of Mplx in a report on Wednesday, August 28th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mplx has a consensus rating of Buy and a consensus price target of $46.33.

Mplx Trading Up 0.1 %

NYSE:MPLX opened at $43.83 on Monday. The stock has a fifty day simple moving average of $42.40 and a 200 day simple moving average of $41.57. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $44.54 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 1.19 and a beta of 1.37. Mplx has a 1-year low of $34.52 and a 1-year high of $44.09.

Mplx (NYSE:MPLX) last announced its earnings results on Tuesday, August 6th. The pipeline company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.98 by $0.17. The company had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Mplx had a net margin of 35.95% and a return on equity of 32.68%. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period last year, the company posted $0.91 earnings per share. Sell-side analysts forecast that Mplx will post 4.24 earnings per share for the current year.

Mplx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 9th were issued a $0.85 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.40 dividend on an annualized basis and a yield of 7.76%. Mplx’s dividend payout ratio is currently 87.63%.

Institutional Trading of Mplx

Large investors have recently added to or reduced their stakes in the business. Quent Capital LLC bought a new position in shares of Mplx during the 1st quarter valued at $35,000. Crewe Advisors LLC bought a new position in Mplx during the first quarter valued at about $41,000. Pacifica Partners Inc. acquired a new stake in shares of Mplx in the first quarter worth about $41,000. Register Financial Advisors LLC bought a new stake in shares of Mplx during the 1st quarter worth about $42,000. Finally, CWM LLC increased its holdings in shares of Mplx by 73.3% during the 2nd quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock valued at $45,000 after acquiring an additional 451 shares during the last quarter. 24.25% of the stock is owned by institutional investors.

About Mplx

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.