Mplx Lp (NYSE:MPLX) Given Average Rating of “Moderate Buy” by Brokerages

Mplx Lp (NYSE:MPLX) has received a consensus rating of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $61.60.

MPLX has been the topic of several research analyst reports. Weiss Ratings lowered shares of Mplx from a “buy (a)” rating to a “buy (a-)” rating in a research report on Monday, May 18th. Truist Financial cut their price objective on shares of Mplx from $67.00 to $66.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. The Goldman Sachs Group increased their target price on shares of Mplx from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Barclays lifted their target price on Mplx from $58.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $60.00 price target on shares of Mplx in a research note on Thursday, July 2nd.

Mplx Stock Performance

Shares of NYSE MPLX opened at $58.74 on Friday. Mplx has a 12 month low of $47.80 and a 12 month high of $59.98. The company has a market cap of $59.61 billion, a P/E ratio of 12.72, a P/E/G ratio of 5.62 and a beta of 0.47. The business’s 50 day moving average is $56.47 and its two-hundred day moving average is $56.37. The company has a quick ratio of 1.05, a current ratio of 1.10 and a debt-to-equity ratio of 1.71.

Mplx (NYSE:MPLX) last posted its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.15). The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $3.09 billion. Mplx had a net margin of 36.38% and a return on equity of 32.74%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.10 earnings per share. On average, equities analysts expect that Mplx will post 4.19 EPS for the current year.

Mplx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were given a $1.0765 dividend. This represents a $4.31 annualized dividend and a yield of 7.3%. The ex-dividend date of this dividend was Friday, May 8th. Mplx’s dividend payout ratio is 93.29%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Belfer Management LLC raised its holdings in shares of Mplx by 2.4% in the 4th quarter. Belfer Management LLC now owns 7,849 shares of the pipeline company’s stock worth $419,000 after buying an additional 181 shares in the last quarter. Trueblood Wealth Management LLC grew its position in Mplx by 1.9% in the fourth quarter. Trueblood Wealth Management LLC now owns 9,736 shares of the pipeline company’s stock valued at $520,000 after acquiring an additional 186 shares during the period. Wealthstar Advisors LLC grew its position in Mplx by 1.5% in the fourth quarter. Wealthstar Advisors LLC now owns 12,598 shares of the pipeline company’s stock valued at $672,000 after acquiring an additional 190 shares during the period. Sei Investments Co. raised its stake in Mplx by 0.9% during the first quarter. Sei Investments Co. now owns 22,175 shares of the pipeline company’s stock worth $1,266,000 after acquiring an additional 201 shares in the last quarter. Finally, Federation des caisses Desjardins du Quebec raised its stake in Mplx by 3.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 5,658 shares of the pipeline company’s stock worth $302,000 after acquiring an additional 208 shares in the last quarter. Institutional investors own 24.25% of the company’s stock.

About Mplx

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.