Shares of Mplx Lp (NYSE:MPLX) have received an average rating of “Buy” from the sixteen analysts that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $42.00.
MPLX has been the subject of several recent analyst reports. BidaskClub cut Mplx from a “buy” rating to a “hold” rating in a research note on Sunday, August 6th. Jefferies Group decreased their target price on Mplx from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Monday, August 28th. Stifel Nicolaus restated a “buy” rating and set a $42.00 target price (down previously from $43.00) on shares of Mplx in a research note on Tuesday, September 5th. Scotiabank restated a “buy” rating and set a $44.00 target price on shares of Mplx in a research note on Wednesday, October 4th. Finally, Zacks Investment Research cut Mplx from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th.
Shares of Mplx (NYSE MPLX) traded up $0.27 on Thursday, hitting $36.13. The stock had a trading volume of 2,490,000 shares, compared to its average volume of 1,192,171. The company has a quick ratio of 0.48, a current ratio of 0.54 and a debt-to-equity ratio of 0.68. The stock has a market cap of $15,007.43, a PE ratio of 39.70, a PEG ratio of 4.95 and a beta of 1.36. Mplx has a fifty-two week low of $30.88 and a fifty-two week high of $39.43.
Mplx (NYSE:MPLX) last announced its quarterly earnings data on Thursday, October 26th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.02. The business had revenue of $980.00 million during the quarter, compared to analysts’ expectations of $965.07 million. Mplx had a return on equity of 5.87% and a net margin of 16.79%. The business’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 EPS. research analysts forecast that Mplx will post 1.04 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Monday, November 6th were given a dividend of $0.5875 per share. This is a positive change from Mplx’s previous quarterly dividend of $0.56. The ex-dividend date was Friday, November 3rd. This represents a $2.35 annualized dividend and a yield of 6.50%. Mplx’s payout ratio is 258.24%.
In other Mplx news, VP Gregory Scott Floerke sold 4,000 shares of Mplx stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $34.69, for a total transaction of $138,760.00. Following the transaction, the vice president now owns 83,598 shares of the company’s stock, valued at $2,900,014.62. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP C Corwin Bromley sold 2,500 shares of Mplx stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $34.50, for a total value of $86,250.00. Following the transaction, the vice president now directly owns 123,705 shares in the company, valued at approximately $4,267,822.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,000 shares of company stock worth $415,670.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MPLX. Janney Montgomery Scott LLC increased its holdings in shares of Mplx by 1.0% in the second quarter. Janney Montgomery Scott LLC now owns 57,599 shares of the pipeline company’s stock valued at $1,924,000 after purchasing an additional 554 shares during the period. Heritage Wealth Advisors increased its holdings in shares of Mplx by 1.7% in the second quarter. Heritage Wealth Advisors now owns 48,334 shares of the pipeline company’s stock valued at $1,614,000 after purchasing an additional 805 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in shares of Mplx by 5.3% in the second quarter. State of New Jersey Common Pension Fund D now owns 296,500 shares of the pipeline company’s stock valued at $9,903,000 after purchasing an additional 15,000 shares during the period. Beach Investment Management LLC. acquired a new position in shares of Mplx in the second quarter valued at approximately $1,061,000. Finally, Tortoise Capital Advisors L.L.C. increased its holdings in shares of Mplx by 1.1% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 19,105,648 shares of the pipeline company’s stock valued at $638,129,000 after purchasing an additional 202,094 shares during the period. 64.29% of the stock is currently owned by institutional investors.
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MPLX LP is a master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets. The Company is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids (NGLs), and the gathering, transportation and storage of crude oil and refined petroleum products.
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