Mplx Lp (MPLX) Receives $37.00 Consensus PT from Analysts
Mplx Lp (NYSE:MPLX) has been assigned a consensus rating of “Buy” from the twenty analysts that are currently covering the firm. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $37.00.
MPLX has been the topic of several recent analyst reports. Barclays PLC initiated coverage on shares of Mplx Lp in a research report on Tuesday, July 19th. They set an “overweight” rating and a $42.00 price objective on the stock. Zacks Investment Research raised shares of Mplx Lp from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a report on Wednesday, July 27th. Jefferies Group assumed coverage on shares of Mplx Lp in a report on Tuesday, August 23rd. They issued a “hold” rating and a $35.00 target price for the company. FBR & Co assumed coverage on shares of Mplx Lp in a report on Friday, September 9th. They issued a “market perform” rating and a $35.00 target price for the company. Finally, Mizuho assumed coverage on shares of Mplx Lp in a report on Friday, September 30th. They issued a “neutral” rating and a $35.00 target price for the company.
Shares of Mplx Lp (NYSE:MPLX) opened at 32.24 on Friday. The company’s 50-day moving average is $32.25 and its 200-day moving average is $32.59. Mplx Lp has a 12-month low of $16.34 and a 12-month high of $43.89. The company’s market capitalization is $11.24 billion.
Mplx Lp (NYSE:MPLX) last released its quarterly earnings data on Thursday, October 27th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.21. The company had revenue of $703 million for the quarter, compared to the consensus estimate of $654.87 million. The company’s quarterly revenue was up 228.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.41 EPS. Analysts predict that Mplx Lp will post $0.04 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Friday, November 4th will be issued a $0.515 dividend. This is an increase from Mplx Lp’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a dividend yield of 6.39%. The ex-dividend date is Wednesday, November 2nd.
In related news, Director Frank M. Semple sold 45,000 shares of Mplx Lp stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $34.00, for a total value of $1,530,000.00. Following the completion of the sale, the director now directly owns 284,565 shares in the company, valued at $9,675,210. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Gregory Scott Floerke sold 1,000 shares of Mplx Lp stock in a transaction dated Wednesday, October 12th. The shares were sold at an average price of $31.00, for a total value of $31,000.00. The disclosure for this sale can be found here.
Several hedge funds have recently added to or reduced their stakes in MPLX. Advisory Services Network LLC increased its stake in Mplx Lp by 8.5% in the second quarter. Advisory Services Network LLC now owns 3,282 shares of the company’s stock valued at $110,000 after buying an additional 257 shares during the last quarter. MCF Advisors LLC increased its stake in Mplx Lp by 1.6% in the second quarter. MCF Advisors LLC now owns 3,639 shares of the company’s stock valued at $122,000 after buying an additional 57 shares during the last quarter. Koshinski Asset Management Inc. purchased a new stake in Mplx Lp during the third quarter valued at $157,000. Americafirst Capital Management LLC purchased a new stake in Mplx Lp during the second quarter valued at $173,000. Finally, CENTRAL TRUST Co increased its stake in Mplx Lp by 19.8% in the third quarter. CENTRAL TRUST Co now owns 5,615 shares of the company’s stock valued at $190,000 after buying an additional 928 shares during the last quarter.
About Mplx Lp
MPLX LP is a United States-based diversified master limited partnership (MLP) company, which owns, operates, develops and acquires 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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