Mplx Lp (NYSE:MPLX) Receives $63.20 Consensus PT from Brokerages

Mplx Lp (NYSE:MPLX) has earned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $63.20.

Several equities research analysts recently issued reports on the company. Zacks Research upgraded Mplx from a “strong sell” rating to a “hold” rating in a research note on Friday, June 5th. Wells Fargo & Company raised their price objective on Mplx from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada increased their target price on Mplx from $60.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, August 21st. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Mplx in a research note on Thursday, August 13th. Finally, Morgan Stanley increased their price objective on shares of Mplx from $60.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 12th.

Institutional Trading of Mplx

Several hedge funds and other institutional investors have recently made changes to their positions in MPLX. Energy Income Partners LLC bought a new position in Mplx during the second quarter worth $303,072,000. Clearbridge Investments LLC boosted its position in Mplx by 7.9% during the fourth quarter. Clearbridge Investments LLC now owns 2,343,689 shares of the pipeline company’s stock valued at $125,083,000 after acquiring an additional 172,000 shares during the last quarter. Attessa Capital LLC acquired a new stake in Mplx during the 2nd quarter worth about $1,042,000. Americana Partners LLC raised its position in shares of Mplx by 38.6% in the 4th quarter. Americana Partners LLC now owns 760,306 shares of the pipeline company’s stock worth $40,578,000 after acquiring an additional 211,694 shares in the last quarter. Finally, Militia Capital Management LLC bought a new position in shares of Mplx in the 1st quarter worth about $3,824,000. 24.25% of the stock is currently owned by institutional investors.

Mplx Price Performance

NYSE:MPLX opened at $60.23 on Monday. Mplx has a 52 week low of $47.80 and a 52 week high of $60.95. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.83 and a current ratio of 0.89. The firm’s 50-day simple moving average is $58.45 and its 200 day simple moving average is $57.25. The firm has a market cap of $61.06 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 5.66 and a beta of 0.48.

Mplx (NYSE:MPLX) last posted its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $1.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.06. Mplx had a net margin of 35.75% and a return on equity of 32.83%. The firm had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, sell-side analysts predict that Mplx will post 4.28 earnings per share for the current year.

Mplx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, August 7th were given a dividend of $1.0765 per share. This represents a $4.31 annualized dividend and a dividend yield of 7.1%. The ex-dividend date was Friday, August 7th. Mplx’s dividend payout ratio is currently 92.69%.

About Mplx

MPLX LP (NYSE:MPLX) is a master limited partnership that owns and operates midstream energy infrastructure in the United States. The company provides transportation, storage and processing services for crude oil, refined products, natural gas and natural gas liquids (NGLs), supporting producers, refiners and other energy customers.

MPLX’s assets include gathering and processing systems, pipelines, storage facilities, fractionation plants, marine terminals and inland and coastal logistics operations.