Mplx Lp (MPLX) to Issue Quarterly Dividend of $0.96 on February 14th

Mplx Lp (NYSE:MPLX) declared a quarterly dividend on Wednesday, January 22nd,RTT News reports. Stockholders of record on Monday, February 3rd will be given a dividend of 0.9565 per share by the pipeline company on Friday, February 14th. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.37%. The ex-dividend date of this dividend is Monday, February 3rd.

Mplx has raised its dividend by an average of 8.2% annually over the last three years. Mplx has a payout ratio of 82.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Mplx to earn $4.32 per share next year, which means the company should continue to be able to cover its $3.83 annual dividend with an expected future payout ratio of 88.7%.

Mplx Price Performance

Shares of NYSE MPLX opened at $51.91 on Friday. The firm’s 50-day simple moving average is $48.82 and its 200 day simple moving average is $45.29. Mplx has a fifty-two week low of $37.04 and a fifty-two week high of $53.15. The stock has a market cap of $52.89 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 2.34 and a beta of 1.43. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99.

Mplx (NYSE:MPLX) last released its earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.04). The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.09 billion. Mplx had a net margin of 36.77% and a return on equity of 32.70%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.89 earnings per share. As a group, research analysts anticipate that Mplx will post 4.18 earnings per share for the current fiscal year.

Insider Activity at Mplx

In other Mplx news, VP Carl Kristopher Hagedorn sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $47.24, for a total value of $188,960.00. Following the completion of the sale, the vice president now owns 14,750 shares in the company, valued at approximately $696,790. The trade was a 21.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MPLX. Barclays increased their price objective on Mplx from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Wells Fargo & Company upped their price target on Mplx from $53.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. UBS Group upped their target price on shares of Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Bank of America began coverage on shares of Mplx in a report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price target for the company. Finally, StockNews.com raised shares of Mplx from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.89.

Mplx Company Profile

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Logistics and Storage (L&S) and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.