Mplx (NYSE:MPLX) Price Target Raised to $64.00

Mplx (NYSE:MPLX) had its target price hoisted by Royal Bank Of Canada from $60.00 to $64.00 in a report issued on Friday, Marketbeat reports. Royal Bank Of Canada currently has an outperform rating on the pipeline company’s stock.

Several other equities analysts have also weighed in on MPLX. Morgan Stanley lifted their target price on shares of Mplx from $60.00 to $66.00 and gave the company an “equal weight” rating in a report on Wednesday, August 12th. Barclays increased their price target on Mplx from $59.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Weiss Ratings restated a “buy (a-)” rating on shares of Mplx in a research note on Thursday, August 13th. Zacks Research raised Mplx from a “strong sell” rating to a “hold” rating in a research report on Friday, June 5th. Finally, Wells Fargo & Company upped their target price on Mplx from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $63.20.

Mplx Trading Down 0.1%

Shares of MPLX stock opened at $58.38 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 1.71. Mplx has a fifty-two week low of $47.80 and a fifty-two week high of $60.95. The firm’s 50 day moving average price is $57.69 and its two-hundred day moving average price is $56.96. The stock has a market cap of $59.19 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 5.53 and a beta of 0.48.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $1.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.06. Mplx had a net margin of 35.75% and a return on equity of 32.83%. The company had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, analysts anticipate that Mplx will post 4.28 EPS for the current year.

Mplx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, August 7th were given a dividend of $1.0765 per share. This represents a $4.31 dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date of this dividend was Friday, August 7th. Mplx’s payout ratio is presently 92.69%.

Institutional Investors Weigh In On Mplx

A number of large investors have recently added to or reduced their stakes in the company. VELA Investment Management LLC increased its stake in Mplx by 10.0% during the 2nd quarter. VELA Investment Management LLC now owns 18,164 shares of the pipeline company’s stock worth $1,023,000 after buying an additional 1,651 shares during the period. Washington Trust Advisors Inc. lifted its holdings in Mplx by 4.1% in the 2nd quarter. Washington Trust Advisors Inc. now owns 7,020 shares of the pipeline company’s stock worth $395,000 after buying an additional 275 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in Mplx in the 2nd quarter worth $308,000. Compass Financial Management LLC purchased a new position in Mplx in the 2nd quarter valued at about $577,000. Finally, William John Sempolinski purchased a new position in Mplx in the 2nd quarter valued at about $299,000. 24.25% of the stock is owned by institutional investors and hedge funds.

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.