Mplx Lp (NYSE:MPLX) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Mplx Lp (NYSE:MPLX) have earned an average recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $61.60.

Several equities research analysts have issued reports on the company. UBS Group increased their price target on Mplx from $64.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Morgan Stanley lowered their price target on Mplx from $62.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, May 20th. Truist Financial lowered their price target on Mplx from $67.00 to $66.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Zacks Research upgraded Mplx from a “strong sell” rating to a “hold” rating in a report on Friday, June 5th. Finally, Wells Fargo & Company reduced their price objective on Mplx from $63.00 to $61.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th.

Mplx Stock Up 0.3%

Shares of Mplx stock opened at $56.38 on Wednesday. Mplx has a 1 year low of $47.80 and a 1 year high of $59.98. The business has a 50-day moving average of $55.82 and a two-hundred day moving average of $55.99. The company has a market capitalization of $57.21 billion, a P/E ratio of 12.20, a price-to-earnings-growth ratio of 5.39 and a beta of 0.48. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.10 and a quick ratio of 1.05.

Mplx (NYSE:MPLX) last announced its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.15). Mplx had a return on equity of 32.74% and a net margin of 36.38%.The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the company earned $1.10 earnings per share. The firm’s revenue was down 2.8% compared to the same quarter last year. As a group, equities analysts predict that Mplx will post 4.22 EPS for the current year.

Mplx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were given a dividend of $1.0765 per share. This represents a $4.31 annualized dividend and a dividend yield of 7.6%. The ex-dividend date of this dividend was Friday, May 8th. Mplx’s dividend payout ratio is currently 93.29%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Belfer Management LLC boosted its position in shares of Mplx by 2.4% during the fourth quarter. Belfer Management LLC now owns 7,849 shares of the pipeline company’s stock worth $419,000 after buying an additional 181 shares during the period. Trueblood Wealth Management LLC boosted its position in shares of Mplx by 1.9% during the fourth quarter. Trueblood Wealth Management LLC now owns 9,736 shares of the pipeline company’s stock worth $520,000 after buying an additional 186 shares during the period. Wealthstar Advisors LLC boosted its position in shares of Mplx by 1.5% during the fourth quarter. Wealthstar Advisors LLC now owns 12,598 shares of the pipeline company’s stock worth $672,000 after buying an additional 190 shares during the period. Cobblestone Capital Advisors LLC NY boosted its position in shares of Mplx by 4.0% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 5,198 shares of the pipeline company’s stock worth $260,000 after buying an additional 198 shares during the period. Finally, Sei Investments Co. boosted its position in shares of Mplx by 0.9% during the first quarter. Sei Investments Co. now owns 22,175 shares of the pipeline company’s stock worth $1,266,000 after buying an additional 201 shares during the period. 24.25% of the stock is owned by institutional investors and hedge funds.

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.