Mplx (NYSE:MPLX) Issues Quarterly Earnings Results

Mplx (NYSE:MPLX) released its earnings results on Tuesday. The pipeline company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.01), Briefing.com reports. Mplx had a return on equity of 31.85% and a net margin of 34.82%. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the previous year, the company earned $0.91 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis.

Mplx Stock Down 0.4 %

Shares of MPLX opened at $41.80 on Wednesday. The stock’s 50-day moving average price is $40.71 and its two-hundred day moving average price is $38.11. Mplx has a 12 month low of $33.12 and a 12 month high of $42.90. The company has a market capitalization of $42.25 billion, a PE ratio of 10.97 and a beta of 1.35. The company has a current ratio of 1.07, a quick ratio of 1.01 and a debt-to-equity ratio of 1.52.

Mplx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Friday, May 3rd will be issued a $0.85 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $3.40 dividend on an annualized basis and a yield of 8.13%. Mplx’s payout ratio is 89.24%.

Analyst Ratings Changes

A number of equities analysts have recently commented on MPLX shares. Royal Bank of Canada boosted their price target on Mplx from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Raymond James boosted their target price on Mplx from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. UBS Group raised their price target on shares of Mplx from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, April 12th. StockNews.com upgraded shares of Mplx from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 31st. Finally, Barclays boosted their target price on shares of Mplx from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Mplx currently has an average rating of “Buy” and an average target price of $43.86.

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.