Mplx (NYSE:MPLX) Sets New 12-Month High – Still a Buy?

Mplx Lp (NYSE:MPLX)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $57.30 and last traded at $56.79, with a volume of 304587 shares traded. The stock had previously closed at $56.83.

Wall Street Analyst Weigh In

MPLX has been the topic of a number of research reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $57.00 price target on shares of Mplx in a research note on Monday, December 1st. Weiss Ratings restated a “buy (a-)” rating on shares of Mplx in a research note on Monday, December 29th. Royal Bank Of Canada increased their price objective on shares of Mplx from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, November 21st. Zacks Research raised shares of Mplx from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Finally, Barclays upped their target price on shares of Mplx from $53.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Mplx has an average rating of “Moderate Buy” and a consensus price target of $58.29.

Mplx Price Performance

The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 1.66. The company has a market cap of $58.37 billion, a P/E ratio of 11.90, a P/E/G ratio of 5.15 and a beta of 0.57. The firm has a 50 day moving average of $54.84 and a 200-day moving average of $52.45.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, February 3rd. The pipeline company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.07. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.23 billion. Mplx had a net margin of 37.79% and a return on equity of 34.56%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 earnings per share. On average, equities research analysts predict that Mplx Lp will post 4.41 EPS for the current year.

Mplx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 9th were given a dividend of $1.0765 per share. The ex-dividend date was Monday, February 9th. This represents a $4.31 dividend on an annualized basis and a dividend yield of 7.5%. Mplx’s dividend payout ratio (DPR) is presently 89.42%.

Institutional Investors Weigh In On Mplx

A number of hedge funds have recently bought and sold shares of the business. Solstein Capital LLC bought a new stake in shares of Mplx in the 3rd quarter worth about $25,000. Elevation Point Wealth Partners LLC purchased a new position in Mplx in the second quarter worth about $26,000. FSC Wealth Advisors LLC bought a new stake in Mplx during the second quarter worth approximately $29,000. Operose Advisors LLC raised its position in Mplx by 216.2% during the second quarter. Operose Advisors LLC now owns 585 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 400 shares during the period. Finally, EQ Wealth Advisors LLC purchased a new stake in Mplx during the fourth quarter valued at approximately $32,000. Hedge funds and other 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.