Mplx Lp (NYSE:MPLX) Receives Average Rating of “Buy” from Brokerages

Shares of Mplx Lp (NYSE:MPLX) have been assigned an average rating of “Buy” from the eight research firms that are presently covering the firm, Marketbeat.com reports. Eight investment analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have issued a report on the stock in the last year is $47.88.

Several research analysts recently commented on MPLX shares. Barclays raised their price objective on shares of Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday. Wells Fargo & Company lifted their target price on shares of Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. StockNews.com raised shares of Mplx from a “buy” rating to a “strong-buy” rating in a research note on Thursday. UBS Group upped their price objective on shares of Mplx from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 price target on shares of Mplx in a research note on Wednesday, August 28th.

Institutional Investors Weigh In On Mplx

Institutional investors and hedge funds have recently made changes to their positions in the company. Creative Planning boosted its position in Mplx by 45.4% in the third quarter. Creative Planning now owns 51,508 shares of the pipeline company’s stock worth $2,290,000 after purchasing an additional 16,076 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in shares of Mplx in the third quarter valued at about $240,000. Redhawk Wealth Advisors Inc. lifted its holdings in Mplx by 7.6% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 7,197 shares of the pipeline company’s stock worth $320,000 after purchasing an additional 507 shares in the last quarter. Gilman Hill Asset Management LLC bought a new position in shares of Mplx during the third quarter worth $1,291,000. Finally, Exchange Traded Concepts LLC grew its holdings in Mplx by 7.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 450,487 shares of the pipeline company’s stock valued at $20,029,000 after buying an additional 30,290 shares in the last quarter. Institutional investors own 24.25% of the company’s stock.

Mplx Stock Up 0.8 %

MPLX stock opened at $44.32 on Monday. The firm has a market capitalization of $45.03 billion, a PE ratio of 11.40, a P/E/G ratio of 1.22 and a beta of 1.37. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.41. Mplx has a twelve month low of $35.06 and a twelve month high of $45.24. The stock’s 50 day moving average is $43.05 and its 200-day moving average is $42.06.

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

Mplx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 9th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 7.67%. The ex-dividend date was Friday, August 9th. Mplx’s dividend payout ratio 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.