Mplx (NYSE:MPLX) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Mplx (NYSE:MPLX) issued its quarterly earnings results on Tuesday. The pipeline company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.03, Zacks reports. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.07 billion. Mplx had a net margin of 36.77% and a return on equity of 32.70%. Mplx’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.10 EPS.

Mplx Stock Performance

NYSE:MPLX opened at $54.06 on Thursday. The firm has a 50 day simple moving average of $49.56 and a 200-day simple moving average of $45.97. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95. The firm has a market cap of $55.07 billion, a PE ratio of 12.71, a P/E/G ratio of 2.33 and a beta of 1.42. Mplx has a 1-year low of $37.47 and a 1-year high of $53.93.

Mplx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.9565 per share. The ex-dividend date is Monday, February 3rd. This represents a $3.83 annualized dividend and a dividend yield of 7.08%. Mplx’s dividend payout ratio is currently 90.33%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Truist Financial lifted their price target on shares of Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Barclays upped their price target on Mplx from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. StockNews.com lowered shares of Mplx from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Royal Bank of Canada raised their target price on Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Finally, Wells Fargo & Company lifted their price target on shares of Mplx from $53.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.50.

Insider Activity

In other news, VP Carl Kristopher Hagedorn sold 4,000 shares of the stock in a transaction on Monday, November 18th. The shares were 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 of the company’s stock, valued at $696,790. This represents a 21.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

About Mplx

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.