Mplx Lp (NYSE:MPLX) Expected to Earn FY2024 Earnings of $3.99 Per Share

Mplx Lp (NYSE:MPLX) – Research analysts at US Capital Advisors increased their FY2024 earnings per share estimates for shares of Mplx in a report issued on Monday, April 29th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will earn $3.99 per share for the year, up from their prior forecast of $3.94. The consensus estimate for Mplx’s current full-year earnings is $4.10 per share. US Capital Advisors also issued estimates for Mplx’s Q4 2024 earnings at $1.04 EPS, Q1 2025 earnings at $0.98 EPS, Q2 2025 earnings at $1.02 EPS, Q3 2025 earnings at $1.06 EPS, Q4 2025 earnings at $1.07 EPS, FY2025 earnings at $4.14 EPS and FY2026 earnings at $4.29 EPS.

MPLX has been the subject of a number of other reports. StockNews.com raised Mplx from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 31st. Raymond James increased their target price on Mplx from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Royal Bank of Canada increased their target price on Mplx from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. UBS Group increased their target price on Mplx from $46.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Finally, Barclays raised their price target on shares of Mplx from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mplx has a consensus rating of “Buy” and a consensus price target of $43.86.

Mplx Price Performance

NYSE MPLX opened at $41.80 on Wednesday. The business has a 50 day simple moving average of $40.71 and a 200 day simple moving average of $38.11. Mplx has a 52-week low of $33.12 and a 52-week high of $42.90. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.01 and a current ratio of 1.07. The stock has a market cap of $42.25 billion, a price-to-earnings ratio of 10.97 and a beta of 1.35.

Mplx (NYSE:MPLX) last announced 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). The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.89 billion. Mplx had a net margin of 34.82% and a return on equity of 31.85%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $0.91 earnings per share.

Mplx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Friday, May 3rd will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 8.13%. The ex-dividend date of this dividend is Thursday, May 2nd. Mplx’s dividend payout ratio is currently 89.24%.

Institutional Trading of Mplx

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Retirement Group LLC increased its position in shares of Mplx by 103.7% in the first quarter. Retirement Group LLC now owns 4,455 shares of the pipeline company’s stock valued at $185,000 after acquiring an additional 2,268 shares during the last quarter. Private Advisor Group LLC grew its holdings in Mplx by 4.2% during the first quarter. Private Advisor Group LLC now owns 55,589 shares of the pipeline company’s stock worth $2,310,000 after purchasing an additional 2,260 shares during the period. Norden Group LLC bought a new position in Mplx during the first quarter worth about $356,000. SpiderRock Advisors LLC bought a new position in Mplx during the first quarter worth about $459,000. Finally, Commonwealth Equity Services LLC grew its holdings in Mplx by 18.8% during the first quarter. Commonwealth Equity Services LLC now owns 88,481 shares of the pipeline company’s stock worth $3,677,000 after purchasing an additional 13,995 shares during the period. Institutional investors and hedge funds 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.