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

Shares of Mplx Lp (NYSE:MPLX) have earned an average rating of “Moderate Buy” from the thirteen brokerages that are covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $61.60.

A number of brokerages have weighed in on MPLX. The Goldman Sachs Group raised their target price on Mplx from $55.00 to $63.00 and gave the company a “buy” rating in a report on Monday, April 20th. Wells Fargo & Company cut their target price on shares of Mplx from $63.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Truist Financial decreased their target price on shares of Mplx from $67.00 to $66.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $60.00 target price on shares of Mplx in a research note on Thursday, July 2nd. Finally, Barclays upped their price objective on Mplx from $58.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th.

Mplx Trading Up 1.6%

Shares of MPLX stock opened at $57.51 on Friday. The stock has a market cap of $58.35 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 5.43 and a beta of 0.47. Mplx has a 1 year low of $47.80 and a 1 year high of $59.98. The company has a current ratio of 1.10, a quick ratio of 1.05 and a debt-to-equity ratio of 1.71. The stock has a 50 day simple moving average of $56.39 and a 200 day simple moving average of $56.35.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.15). Mplx had a return on equity of 32.74% and a net margin of 36.38%.The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the previous year, the business posted $1.10 EPS. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, research analysts predict that Mplx will post 4.22 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were given a dividend of $1.0765 per share. This represents a $4.31 dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date was Friday, May 8th. Mplx’s dividend payout ratio (DPR) is 93.29%.

Hedge Funds Weigh In On Mplx

Hedge funds have recently bought and sold shares of the company. Belfer Management LLC lifted its stake in Mplx by 2.4% in the fourth quarter. Belfer Management LLC now owns 7,849 shares of the pipeline company’s stock valued at $419,000 after buying an additional 181 shares during the period. Trueblood Wealth Management LLC increased its position in Mplx by 1.9% in the 4th quarter. Trueblood Wealth Management LLC now owns 9,736 shares of the pipeline company’s stock valued at $520,000 after buying an additional 186 shares in the last quarter. Wealthstar Advisors LLC increased its position in Mplx by 1.5% in the 4th quarter. Wealthstar Advisors LLC now owns 12,598 shares of the pipeline company’s stock valued at $672,000 after buying an additional 190 shares in the last quarter. Sei Investments Co. raised its position in shares of Mplx by 0.9% during the first quarter. Sei Investments Co. now owns 22,175 shares of the pipeline company’s stock worth $1,266,000 after purchasing an additional 201 shares during the period. Finally, Federation des caisses Desjardins du Quebec raised its holdings in Mplx by 3.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 5,658 shares of the pipeline company’s stock worth $302,000 after buying an additional 208 shares during the last quarter. Institutional investors own 24.25% of the company’s stock.

About Mplx

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.