Mplx Lp (NYSE:MPLX) Receives $58.29 Average Target Price from Brokerages

Shares of Mplx Lp (NYSE:MPLX) have received an average rating of “Moderate Buy” from the ten analysts that are covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $58.2857.

Several brokerages recently commented on MPLX. Raymond James Financial downgraded shares of Mplx from an “outperform” rating to a “market perform” rating in a report on Monday, January 5th. Barclays lifted their price objective on Mplx from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. Morgan Stanley boosted their price objective on Mplx from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. Zacks Research raised Mplx from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $57.00 price target on shares of Mplx in a report on Monday, December 1st.

Hedge Funds Weigh In On Mplx

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wick Capital Partners LLC acquired a new stake in Mplx during the fourth quarter valued at approximately $712,000. Corient Private Wealth LLC boosted its stake in Mplx by 98.9% in the 4th quarter. Corient Private Wealth LLC now owns 559,598 shares of the pipeline company’s stock valued at $29,698,000 after buying an additional 278,263 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in Mplx by 0.8% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 83,210 shares of the pipeline company’s stock valued at $4,441,000 after buying an additional 639 shares in the last quarter. Beacon Pointe Advisors LLC grew its position in Mplx by 18.4% in the fourth quarter. Beacon Pointe Advisors LLC now owns 11,165 shares of the pipeline company’s stock valued at $596,000 after acquiring an additional 1,733 shares during the period. Finally, NewEdge Advisors LLC raised its stake in Mplx by 8.0% during the fourth quarter. NewEdge Advisors LLC now owns 86,625 shares of the pipeline company’s stock worth $4,623,000 after acquiring an additional 6,385 shares in the last quarter. 24.25% of the stock is currently owned by institutional investors.

Mplx Stock Performance

MPLX opened at $58.23 on Thursday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.26 and a current ratio of 1.31. The company has a market cap of $59.22 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 5.22 and a beta of 0.57. The stock has a 50-day moving average of $54.97 and a 200-day moving average of $52.53. Mplx has a 52-week low of $44.60 and a 52-week high of $58.56.

Mplx (NYSE:MPLX) last issued its quarterly earnings data on Tuesday, February 3rd. The pipeline company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.07. The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.23 billion. Mplx had a return on equity of 34.56% and a net margin of 37.79%.The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business earned $1.07 EPS. As a group, equities research analysts forecast that Mplx will post 4.41 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 9th were given a dividend of $1.0765 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $4.31 dividend on an annualized basis and a dividend yield of 7.4%. Mplx’s dividend payout ratio is currently 89.42%.

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.