Q2 2024 Earnings Forecast for Mplx Lp (NYSE:MPLX) Issued By US Capital Advisors

Mplx Lp (NYSE:MPLX) – Investment analysts at US Capital Advisors boosted their Q2 2024 earnings per share estimates for shares of Mplx in a note issued to investors on Monday, April 29th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will earn $0.98 per share for the quarter, up from their previous forecast of $0.97. The consensus estimate for Mplx’s current full-year earnings is $4.08 per share. US Capital Advisors also issued estimates for Mplx’s Q3 2024 earnings at $1.03 EPS.

A number of other analysts have also issued reports on the company. Stifel Nicolaus boosted their price target on Mplx from $45.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday. StockNews.com cut Mplx from a “strong-buy” rating to a “buy” rating in a report on Wednesday. UBS Group raised their price target on Mplx from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Royal Bank of Canada upped their price objective on shares of Mplx from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Finally, Barclays raised their target price on shares of Mplx from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.57.

Mplx Price Performance

Shares of MPLX stock opened at $41.61 on Thursday. The company has a market capitalization of $42.06 billion, a P/E ratio of 10.72 and a beta of 1.35. The company’s 50-day simple moving average is $40.74 and its two-hundred day simple moving average is $38.13. Mplx has a one year low of $33.12 and a one year high of $42.90. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.07 and a quick ratio of 1.01.

Mplx (NYSE:MPLX) last posted its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). Mplx had a return on equity of 32.13% and a net margin of 34.96%. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis.

Mplx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Friday, May 3rd will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $3.40 dividend on an annualized basis and a yield of 8.17%. Mplx’s dividend payout ratio is presently 87.63%.

Institutional Investors Weigh In On Mplx

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. JFS Wealth Advisors LLC acquired a new position in Mplx during the 3rd quarter valued at about $33,000. PSI Advisors LLC increased its holdings in shares of Mplx by 63.6% during the fourth quarter. PSI Advisors LLC now owns 900 shares of the pipeline company’s stock valued at $33,000 after acquiring an additional 350 shares in the last quarter. HBC Financial Services PLLC purchased a new position in shares of Mplx in the 4th quarter valued at approximately $36,000. Fortitude Family Office LLC acquired a new stake in Mplx in the 4th quarter worth approximately $41,000. Finally, Pacifica Partners Inc. acquired a new stake in Mplx in the 1st quarter worth approximately $41,000. Hedge funds and other institutional investors own 24.25% of the company’s stock.

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.