Mplx Lp (MPLX) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Mplx Lp (NYSE:MPLX) have been given a consensus recommendation of “Buy” by the fourteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $41.70.
A number of equities analysts have recently weighed in on MPLX shares. Stifel Nicolaus upped their price target on shares of Mplx from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, July 27th. Bank of America upped their price target on shares of Mplx from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, November 2nd. Zacks Investment Research raised shares of Mplx from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 24th. Goldman Sachs Group reaffirmed a “neutral” rating on shares of Mplx in a research note on Tuesday, October 9th. Finally, Credit Suisse Group started coverage on shares of Mplx in a research note on Thursday, October 11th. They issued an “outperform” rating and a $45.00 price objective on the stock.
NYSE:MPLX opened at $33.00 on Friday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.70 and a current ratio of 0.77. Mplx has a fifty-two week low of $31.60 and a fifty-two week high of $39.38. The firm has a market cap of $25.82 billion, a PE ratio of 31.13, a P/E/G ratio of 2.24 and a beta of 1.30.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Monday, November 5th were paid a $0.6375 dividend. This represents a $2.55 dividend on an annualized basis and a yield of 7.73%. This is a boost from Mplx’s previous quarterly dividend of $0.44. The ex-dividend date was Friday, November 2nd. Mplx’s dividend payout ratio is presently 240.57%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Mplx in the 2nd quarter valued at about $153,497,000. Salient Capital Advisors LLC lifted its holdings in Mplx by 60.6% in the 2nd quarter. Salient Capital Advisors LLC now owns 7,447,362 shares of the pipeline company’s stock valued at $254,253,000 after purchasing an additional 2,810,467 shares in the last quarter. Chickasaw Capital Management LLC lifted its holdings in Mplx by 74.1% in the 3rd quarter. Chickasaw Capital Management LLC now owns 5,708,264 shares of the pipeline company’s stock valued at $197,963,000 after purchasing an additional 2,430,097 shares in the last quarter. Virtus ETF Advisers LLC purchased a new position in Mplx in the 3rd quarter valued at about $72,713,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Mplx in the 3rd quarter valued at about $63,691,000. 31.57% of the stock is currently owned by hedge funds and other institutional investors.
Mplx Company Profile
MPLX LP owns, operates, develops, and acquires midstream energy infrastructure assets. It operates in two segments, Logistics and Storage, and Gathering and Processing segments. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids (NGLs); and gathering, transportation, and storage of crude oil and refined petroleum products.
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