Mplx Lp (MPLX) to Issue Quarterly Dividend of $0.96 on February 14th

Mplx Lp (NYSE:MPLX) declared a quarterly dividend on Wednesday, January 22nd,RTT News reports. Stockholders of record on Monday, February 3rd will be given a dividend of 0.9565 per share by the pipeline company on Friday, February 14th. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.35%. The ex-dividend date of this dividend is Monday, February 3rd.

Mplx has increased its dividend payment by an average of 8.2% annually over the last three years. Mplx has a payout ratio of 82.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Mplx to earn $4.35 per share next year, which means the company should continue to be able to cover its $3.83 annual dividend with an expected future payout ratio of 88.0%.

Mplx Trading Down 2.5 %

NYSE MPLX opened at $52.03 on Friday. The firm has a market capitalization of $53.01 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 2.31 and a beta of 1.43. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. Mplx has a one year low of $37.04 and a one year high of $53.55. The company’s 50 day moving average price is $49.39 and its 200 day moving average price is $45.74.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.04). Mplx had a net margin of 36.77% and a return on equity of 32.70%. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same period last year, the business earned $0.89 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, sell-side analysts predict that Mplx will post 4.18 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MPLX shares. StockNews.com lowered Mplx from a “strong-buy” rating to a “buy” rating in a research report on Monday, January 27th. Royal Bank of Canada upped their price target on shares of Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, November 18th. UBS Group raised their price objective on shares of Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Truist Financial upped their target price on shares of Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Barclays lifted their price target on Mplx from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.50.

Insider Buying and Selling at Mplx

In other Mplx news, VP Carl Kristopher Hagedorn sold 4,000 shares of Mplx stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $47.24, for a total transaction of $188,960.00. Following the transaction, the vice president now directly owns 14,750 shares in the company, valued at approximately $696,790. The trade was a 21.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

About Mplx

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Logistics and Storage (L&S) and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.