Q2 2024 EPS Estimates for Mplx Lp Boosted by Analyst (NYSE:MPLX)

Mplx Lp (NYSE:MPLX) – Equities researchers at US Capital Advisors increased their Q2 2024 earnings per share (EPS) estimates for shares of Mplx in a note issued to investors on Monday, April 29th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will post earnings of $0.98 per share for the quarter, up from their previous estimate of $0.97. The consensus estimate for Mplx’s current full-year earnings is $4.08 per share. US Capital Advisors also issued estimates for Mplx’s Q3 2024 earnings at $1.03 EPS.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). Mplx had a return on equity of 32.13% and a net margin of 34.96%. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter last year, the company earned $0.91 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis.

Several other research analysts have also recently commented on MPLX. Stifel Nicolaus boosted their target price on Mplx from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday. UBS Group boosted their price objective on Mplx from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Raymond James raised their target price on shares of Mplx from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Barclays lifted 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. Finally, StockNews.com downgraded shares of Mplx from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.57.

Mplx Stock Performance

Shares of MPLX stock opened at $41.61 on Thursday. Mplx has a 52 week low of $33.12 and a 52 week high of $42.90. The firm has a 50 day moving average of $40.74 and a two-hundred day moving average of $38.13. 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 stock has a market capitalization of $42.06 billion, a PE ratio of 10.72 and a beta of 1.35.

Institutional Trading of Mplx

Institutional investors and hedge funds have recently made changes to their positions in the company. PSI Advisors LLC raised its position in Mplx by 63.6% in the 4th quarter. PSI Advisors LLC now owns 900 shares of the pipeline company’s stock valued at $33,000 after purchasing an additional 350 shares during the last quarter. JFS Wealth Advisors LLC purchased a new position in Mplx during the 3rd quarter worth $33,000. HBC Financial Services PLLC acquired a new position in Mplx in the fourth quarter valued at $36,000. Pacifica Partners Inc. purchased a new stake in shares of Mplx in the first quarter valued at about $41,000. Finally, Register Financial Advisors LLC acquired a new stake in shares of Mplx during the first quarter worth about $42,000. 24.25% of the stock is owned by hedge funds and other institutional investors.

Mplx Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $3.40 dividend on an annualized basis and a yield of 8.17%. Mplx’s dividend payout ratio (DPR) is presently 87.63%.

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.