Mplx Lp (NYSE:MPLX) Receives $62.00 Consensus PT from Brokerages

Shares of Mplx Lp (NYSE:MPLX) have earned an average rating of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $61.70.

Several brokerages have recently weighed in on MPLX. UBS Group lifted their target price on shares of Mplx from $64.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, March 16th. Truist Financial decreased their price objective on Mplx from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Stifel Nicolaus increased their target price on Mplx from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. The Goldman Sachs Group raised their target price on Mplx from $55.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Finally, Zacks Research cut Mplx from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 7th.

Mplx Trading Up 0.0%

Mplx stock opened at $54.02 on Tuesday. Mplx has a 52 week low of $47.80 and a 52 week high of $59.98. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.05 and a current ratio of 1.10. The firm has a market capitalization of $54.85 billion, a PE ratio of 11.69, a PEG ratio of 5.05 and a beta of 0.49. The business’s 50-day simple moving average is $56.85 and its 200-day simple moving average is $55.16.

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). Mplx had a net margin of 36.38% and a return on equity of 32.74%. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the prior year, the company posted $1.10 earnings per share. The firm’s revenue was down 2.8% compared to the same quarter last year. Equities research analysts forecast that Mplx will post 4.33 earnings per share for the current year.

Mplx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 8th will be issued a $1.0765 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $4.31 annualized dividend and a dividend yield of 8.0%. Mplx’s dividend payout ratio is presently 93.29%.

Hedge Funds Weigh In On Mplx

Several institutional investors have recently added to or reduced their stakes in the company. Solstein Capital LLC bought a new stake in Mplx during the third quarter worth about $25,000. Assetmark Inc. increased its holdings in shares of Mplx by 81.5% during the first quarter. Assetmark Inc. now owns 559 shares of the pipeline company’s stock worth $32,000 after buying an additional 251 shares in the last quarter. EQ Wealth Advisors LLC bought a new position in shares of Mplx in the fourth quarter valued at approximately $32,000. Wiser Advisor Group LLC bought a new position in shares of Mplx in the third quarter valued at approximately $38,000. Finally, Root Financial Partners LLC acquired a new position in shares of Mplx in the 3rd quarter worth approximately $39,000. 24.25% of the stock is owned by institutional investors.

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.