Mplx (NYSE:MPLX) Announces Quarterly Earnings Results

Mplx (NYSE:MPLX) announced its quarterly earnings results on Tuesday. The pipeline company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02, Zacks reports. The business had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.35 billion. Mplx had a return on equity of 32.83% and a net margin of 35.75%. The business’s revenue was down .4% compared to the same quarter last year. During the same period last year, the business posted $1.52 EPS.

Mplx Stock Performance

Shares of MPLX opened at $57.95 on Tuesday. Mplx has a 12 month low of $50.22 and a 12 month high of $60.95. The stock has a fifty day moving average price of $58.39 and a 200-day moving average price of $57.24. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 1.71. The firm has a market cap of $58.75 billion, a PE ratio of 12.46, a P/E/G ratio of 5.63 and a beta of 0.48.

Mplx Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, November 6th will be issued a dividend of $1.2111 per share. The ex-dividend date is Friday, November 6th. This represents a $4.84 annualized dividend and a dividend yield of 8.4%. This is a boost from Mplx’s previous quarterly dividend of $1.0765. Mplx’s dividend payout ratio (DPR) is currently 104.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on Mplx from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded shares of Mplx from a “buy (a-)” rating to a “buy (a)” rating in a report on Friday. Wolfe Research lowered shares of Mplx from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, July 29th. Morgan Stanley decreased their price target on shares of Mplx from $66.00 to $64.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 13th. Finally, Royal Bank Of Canada raised their price target on shares of Mplx from $60.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.80.

Mplx Company Profile

MPLX LP (NYSE:MPLX) is a master limited partnership that owns and operates midstream energy infrastructure in the United States. The company provides services for the gathering, processing, transportation, storage and marketing of crude oil, natural gas and natural gas liquids (NGLs).

MPLX’s assets include crude oil and refined-products pipelines, natural gas gathering and processing systems, NGL fractionation facilities, storage terminals and marine transportation infrastructure. Through its logistics and storage operations, the company supports the movement of hydrocarbons from producing regions to refineries, export facilities and other domestic markets.

The company serves several major U.S.