Mplx Lp (MPLX) to Issue Quarterly Dividend of $1.08 on May 15th

Mplx Lp (NYSE:MPLX) announced a quarterly dividend on Tuesday, April 28th. Investors of record on Friday, May 8th will be paid a dividend of 1.0765 per share by the pipeline company on Friday, May 15th. This represents a c) annualized dividend and a yield of 7.7%. The ex-dividend date is Friday, May 8th.

Mplx has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 9 years. Mplx has a dividend payout ratio of 88.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Mplx to earn $4.63 per share next year, which means the company should continue to be able to cover its $4.30 annual dividend with an expected future payout ratio of 92.9%.

Mplx Stock Performance

Shares of Mplx stock opened at $55.63 on Wednesday. The company has a market capitalization of $56.47 billion, a PE ratio of 11.54, a PEG ratio of 5.30 and a beta of 0.49. Mplx has a 12 month low of $47.80 and a 12 month high of $59.98. The company has a current ratio of 1.23, a quick ratio of 1.18 and a debt-to-equity ratio of 1.66. The stock’s fifty day simple moving average is $57.15 and its 200 day simple moving average is $55.00.

Mplx (NYSE:MPLX) last issued its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.15). The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $3.09 billion. Mplx had a return on equity of 34.37% and a net margin of 37.79%.The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.10 EPS. On average, research analysts predict that Mplx will post 4.37 EPS for the current year.

Wall Street Analysts Forecast Growth

MPLX has been the topic of several research analyst reports. Stifel Nicolaus raised their price objective on Mplx from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Truist Financial dropped their price objective on Mplx from $67.00 to $66.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Citigroup raised their price objective on Mplx from $54.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 10th. Barclays set a $58.00 price target on Mplx in a research note on Wednesday. Finally, Wall Street Zen downgraded Mplx from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.90.

Mplx Company Profile

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.