Mplx (NYSE:MPLX) Sets New 12-Month High at $42.90

Mplx Lp (NYSE:MPLX) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $42.90 and last traded at $42.03, with a volume of 1130150 shares. The stock had previously closed at $41.96.

Wall Street Analysts Forecast Growth

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

Mplx Stock Performance

The company has a market cap of $42.59 billion, a P/E ratio of 11.01 and a beta of 1.35. The company has a quick ratio of 1.01, a current ratio of 1.07 and a debt-to-equity ratio of 1.52. The business has a fifty day simple moving average of $40.66 and a two-hundred day simple moving average of $38.07.

Mplx (NYSE:MPLX) last posted its quarterly earnings data on Tuesday, January 30th. The pipeline company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.15. Mplx had a net margin of 34.82% and a return on equity of 31.85%. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter last year, the firm posted $0.78 earnings per share. The firm’s revenue was up 11.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Mplx Lp will post 4.1 EPS for the current year.

Mplx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Friday, May 3rd will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $3.40 annualized dividend and a dividend yield of 8.07%. Mplx’s dividend payout ratio (DPR) is 89.24%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Alps Advisors Inc. lifted its stake in Mplx by 18.9% in the 3rd quarter. Alps Advisors Inc. now owns 28,771,793 shares of the pipeline company’s stock worth $1,023,413,000 after purchasing an additional 4,579,152 shares in the last quarter. Invesco Ltd. raised its position in Mplx by 4.0% in the 3rd quarter. Invesco Ltd. now owns 20,917,505 shares of the pipeline company’s stock worth $744,036,000 after purchasing an additional 809,273 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Mplx by 2.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,463,737 shares of the pipeline company’s stock worth $237,348,000 after purchasing an additional 154,529 shares during the last quarter. UBS Group AG boosted its position in shares of Mplx by 12.2% during the third quarter. UBS Group AG now owns 5,869,436 shares of the pipeline company’s stock valued at $208,776,000 after buying an additional 639,199 shares during the period. Finally, Barclays PLC grew its stake in shares of Mplx by 440.5% during the third quarter. Barclays PLC now owns 5,649,301 shares of the pipeline company’s stock valued at $200,946,000 after buying an additional 4,604,066 shares during the last quarter. Institutional investors own 24.25% of the company’s stock.

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.