Zacks: Analysts Anticipate Mplx Lp (NYSE:MPLX) Will Post Earnings of $0.60 Per Share
Brokerages predict that Mplx Lp (NYSE:MPLX) will announce earnings of $0.60 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Mplx’s earnings. The lowest EPS estimate is $0.56 and the highest is $0.66. Mplx reported earnings of $0.55 per share during the same quarter last year, which would indicate a positive year over year growth rate of 9.1%. The business is expected to announce its next earnings results on Thursday, July 25th.
On average, analysts expect that Mplx will report full-year earnings of $2.49 per share for the current year, with EPS estimates ranging from $2.36 to $2.54. For the next fiscal year, analysts anticipate that the business will report earnings of $2.64 per share, with EPS estimates ranging from $2.35 to $2.81. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Mplx.
Mplx (NYSE:MPLX) last issued its earnings results on Wednesday, May 8th. The pipeline company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.02. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. Mplx had a net margin of 28.57% and a return on equity of 27.44%. Mplx’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.61 EPS.
A number of institutional investors have recently bought and sold shares of the stock. Sheaff Brock Investment Advisors LLC raised its position in Mplx by 2.7% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 18,639 shares of the pipeline company’s stock worth $613,000 after purchasing an additional 492 shares during the period. Belpointe Asset Management LLC raised its position in Mplx by 16.7% in the 4th quarter. Belpointe Asset Management LLC now owns 3,501 shares of the pipeline company’s stock worth $106,000 after purchasing an additional 500 shares during the period. Williams Jones & Associates LLC raised its position in Mplx by 0.8% in the 1st quarter. Williams Jones & Associates LLC now owns 65,583 shares of the pipeline company’s stock worth $2,157,000 after purchasing an additional 540 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Mplx by 67.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,368 shares of the pipeline company’s stock worth $45,000 after purchasing an additional 550 shares during the period. Finally, Comerica Bank raised its position in Mplx by 8.0% in the 4th quarter. Comerica Bank now owns 8,167 shares of the pipeline company’s stock worth $280,000 after purchasing an additional 603 shares during the period. 30.83% of the stock is currently owned by institutional investors.
Mplx stock traded down $0.10 during mid-day trading on Wednesday, hitting $31.25. The stock had a trading volume of 1,059,779 shares, compared to its average volume of 1,752,197. The company has a market capitalization of $24.89 billion, a P/E ratio of 13.65 and a beta of 1.19. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.85 and a current ratio of 0.93. Mplx has a one year low of $28.32 and a one year high of $39.01.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Thursday, May 9th were given a dividend of $0.6575 per share. This represents a $2.63 annualized dividend and a dividend yield of 8.42%. This is a boost from Mplx’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Wednesday, May 8th. Mplx’s dividend payout ratio is currently 114.85%.
MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. The company also provides fuels distribution services. 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; and transportation, storage, and distribution of crude oil and refined petroleum products.
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