Mplx Lp (NYSE:MPLX) had its price objective decreased by Stifel Nicolaus from $42.00 to $41.00 in a research note issued to investors on Friday, October 27th. Stifel Nicolaus currently has a buy rating on the pipeline company’s stock.
Several other research firms have also weighed in on MPLX. Scotiabank reiterated a buy rating and set a $44.00 target price on shares of Mplx Lp in a report on Wednesday, October 4th. Guggenheim began coverage on Mplx Lp in a report on Thursday, July 20th. They issued a buy rating and a $40.00 price target on the stock. BidaskClub upgraded Mplx Lp from a hold rating to a buy rating in a report on Sunday, July 16th. Royal Bank of Canada restated a buy rating on shares of Mplx Lp in a report on Friday, July 28th. Finally, Jefferies Group LLC lowered their target price on Mplx Lp from $42.00 to $41.00 and set a buy rating on the stock in a research report on Monday, August 28th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $41.75.
Mplx Lp (MPLX) traded down $0.15 during trading on Friday, hitting $34.78. The company had a trading volume of 568,700 shares, compared to its average volume of 1,408,240. Mplx Lp has a 1-year low of $30.88 and a 1-year high of $39.43. The company has a market cap of $14,508.98, a P/E ratio of 38.38, a PEG ratio of 4.96 and a beta of 1.35. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.54 and a quick ratio of 0.48.
Mplx Lp (NYSE:MPLX) last released its earnings results on Thursday, October 26th. The pipeline company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The company had revenue of $980.00 million during the quarter, compared to analysts’ expectations of $965.07 million. Mplx Lp had a return on equity of 5.87% and a net margin of 16.79%. The business’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period last year, the firm earned $0.21 EPS. sell-side analysts anticipate that Mplx Lp will post 1.01 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Monday, November 6th will be given a dividend of $0.5875 per share. This represents a $2.35 dividend on an annualized basis and a dividend yield of 6.76%. The ex-dividend date is Friday, November 3rd. This is a boost from Mplx Lp’s previous quarterly dividend of $0.56. Mplx Lp’s dividend payout ratio is 258.24%.
In other Mplx Lp news, VP C Corwin Bromley sold 2,500 shares of Mplx Lp stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $34.50, for a total transaction of $86,250.00. Following the transaction, the vice president now owns 123,705 shares of the company’s stock, valued at approximately $4,267,822.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders sold 8,000 shares of company stock worth $276,910.
Several hedge funds have recently modified their holdings of the company. Ffcm LLC purchased a new position in Mplx Lp in the 2nd quarter valued at approximately $116,000. Pathstone Family Office LLC purchased a new position in shares of Mplx Lp during the 2nd quarter valued at $119,000. Cedar Wealth Management LLC grew its position in shares of Mplx Lp by 17.6% during the 2nd quarter. Cedar Wealth Management LLC now owns 5,490 shares of the pipeline company’s stock valued at $183,000 after purchasing an additional 820 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Mplx Lp during the 2nd quarter valued at $191,000. Finally, Saratoga Research & Investment Management purchased a new position in shares of Mplx Lp during the 3rd quarter valued at $192,000. Institutional investors own 63.28% of the company’s stock.
Mplx Lp Company Profile
MPLX LP is a master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire 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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