Mplx Lp (NYSE:MPLX) – Mitsubishi UFJ Financial Group raised their Q1 2019 earnings estimates for shares of Mplx in a research report issued to clients and investors on Wednesday, December 5th. Mitsubishi UFJ Financial Group analyst B. Blaschke now forecasts that the pipeline company will earn $0.69 per share for the quarter, up from their prior estimate of $0.68. Mitsubishi UFJ Financial Group also issued estimates for Mplx’s Q2 2019 earnings at $0.71 EPS, Q3 2019 earnings at $0.73 EPS, Q4 2019 earnings at $0.74 EPS and FY2019 earnings at $2.86 EPS.
Several other equities research analysts have also recently weighed in on MPLX. Zacks Investment Research upgraded shares of Mplx from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Wednesday, November 28th. Bank of America restated a “neutral” rating and issued a $41.00 price objective (up previously from $36.00) on shares of Mplx in a research report on Thursday. Citigroup lowered their price objective on shares of Mplx from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, November 29th. Credit Suisse Group began coverage on shares of Mplx in a research report on Thursday, October 11th. They issued an “outperform” rating and a $45.00 price objective for the company. Finally, Goldman Sachs Group restated a “neutral” rating on shares of Mplx in a research report on Tuesday, October 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $40.08.
MPLX opened at $34.10 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.77 and a debt-to-equity ratio of 1.85. The stock has a market capitalization of $27.19 billion, a price-to-earnings ratio of 32.17, a P/E/G ratio of 2.34 and a beta of 1.30. Mplx has a 1-year low of $31.60 and a 1-year high of $39.38.
Mplx (NYSE:MPLX) last announced its quarterly earnings results on Thursday, November 1st. The pipeline company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.62 billion. Mplx had a net margin of 27.99% and a return on equity of 21.03%. The firm’s quarterly revenue was up 74.7% on a year-over-year basis. During the same period last year, the firm posted $0.29 EPS.
Several large investors have recently modified their holdings of the company. Tortoise Capital Advisors L.L.C. grew its position in shares of Mplx by 4.7% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 28,187,706 shares of the pipeline company’s stock worth $977,550,000 after buying an additional 1,269,600 shares during the period. Alps Advisors Inc. grew its position in shares of Mplx by 5.7% during the 3rd quarter. Alps Advisors Inc. now owns 25,426,675 shares of the pipeline company’s stock worth $881,797,000 after buying an additional 1,382,018 shares during the period. OppenheimerFunds Inc. grew its position in shares of Mplx by 1.4% during the 2nd quarter. OppenheimerFunds Inc. now owns 11,613,781 shares of the pipeline company’s stock worth $396,494,000 after buying an additional 158,163 shares during the period. Brookfield Asset Management Inc. grew its position in shares of Mplx by 2.0% during the 3rd quarter. Brookfield Asset Management Inc. now owns 7,377,931 shares of the pipeline company’s stock worth $255,867,000 after buying an additional 145,400 shares during the period. Finally, Chickasaw Capital Management LLC grew its position in shares of Mplx by 74.1% during the 3rd quarter. Chickasaw Capital Management LLC now owns 5,708,264 shares of the pipeline company’s stock worth $197,963,000 after buying an additional 2,430,097 shares during the period. Institutional investors own 31.03% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Monday, November 5th were given a $0.6375 dividend. This represents a $2.55 annualized dividend and a yield of 7.48%. The ex-dividend date of this dividend was Friday, November 2nd. This is a boost from Mplx’s previous quarterly dividend of $0.44. Mplx’s dividend payout ratio (DPR) is presently 240.57%.
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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