US Capital Advisors Weighs in on Mplx Lp’s FY2024 Earnings (NYSE:MPLX)

Mplx Lp (NYSE:MPLX) – Equities research analysts at US Capital Advisors raised their FY2024 earnings per share estimates for Mplx in a report issued on Monday, April 29th. US Capital Advisors analyst J. Carreker now expects that the pipeline company will post earnings per share of $3.99 for the year, up from their previous estimate of $3.94. The consensus estimate for Mplx’s current full-year earnings is $4.10 per share. US Capital Advisors also issued estimates for Mplx’s Q4 2024 earnings at $1.04 EPS, Q1 2025 earnings at $0.98 EPS, Q2 2025 earnings at $1.02 EPS, Q3 2025 earnings at $1.06 EPS, Q4 2025 earnings at $1.07 EPS, FY2025 earnings at $4.14 EPS and FY2026 earnings at $4.29 EPS.

Mplx (NYSE:MPLX) last issued its earnings results on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.01). Mplx had a return on equity of 31.85% and a net margin of 34.82%. The firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. Mplx’s quarterly revenue was up 4.9% compared to the same quarter last year.

A number of other equities research analysts have also recently weighed in on the company. UBS Group upped their price objective on Mplx from $46.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Raymond James raised their price target on shares of Mplx from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Stifel Nicolaus boosted their price objective on shares of Mplx from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday. StockNews.com cut shares of Mplx from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, Barclays lifted their price target on shares of Mplx from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Mplx currently has an average rating of “Moderate Buy” and an average target price of $44.57.

Mplx Stock Down 0.5 %

Shares of NYSE MPLX opened at $41.61 on Wednesday. Mplx has a 12-month low of $33.12 and a 12-month high of $42.90. The stock’s fifty day simple moving average is $40.74 and its two-hundred day simple moving average is $38.13. The stock has a market capitalization of $42.06 billion, a PE ratio of 10.92 and a beta of 1.35. The company has a current ratio of 1.07, a quick ratio of 1.01 and a debt-to-equity ratio of 1.52.

Mplx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Friday, May 3rd will be issued 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 dividend yield of 8.17%. Mplx’s dividend payout ratio is currently 89.24%.

Hedge Funds Weigh In On Mplx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Independent Advisor Alliance increased its holdings in shares of Mplx by 405.7% in the third quarter. Independent Advisor Alliance now owns 47,395 shares of the pipeline company’s stock valued at $1,686,000 after purchasing an additional 38,022 shares during the period. Alps Advisors Inc. raised its position in Mplx by 18.9% during the 3rd quarter. Alps Advisors Inc. now owns 28,771,793 shares of the pipeline company’s stock worth $1,023,413,000 after buying an additional 4,579,152 shares during the last quarter. Citigroup Inc. raised its position in Mplx by 60.6% during the 3rd quarter. Citigroup Inc. now owns 2,028,514 shares of the pipeline company’s stock worth $72,154,000 after buying an additional 765,618 shares during the last quarter. Catalyst Capital Advisors LLC boosted its holdings in shares of Mplx by 99.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 236,365 shares of the pipeline company’s stock valued at $8,408,000 after acquiring an additional 118,090 shares during the last quarter. Finally, Miller Howard Investments Inc. NY increased its stake in shares of Mplx by 2.8% in the fourth quarter. Miller Howard Investments Inc. NY now owns 2,362,999 shares of the pipeline company’s stock worth $86,769,000 after acquiring an additional 65,380 shares during the period. Hedge funds and other institutional investors own 24.25% of the company’s stock.

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.