Analysts Set Mplx Lp (NYSE:MPLX) Price Target at $31.12

Mplx Lp (NYSE:MPLX) has been given an average recommendation of “Buy” by the twelve ratings firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $31.62.

MPLX has been the subject of a number of recent analyst reports. Barclays boosted their target price on shares of Mplx from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Tuesday, October 19th. Bank of America initiated coverage on shares of Mplx in a report on Tuesday, September 28th. They issued a “buy” rating for the company. Zacks Investment Research upgraded shares of Mplx from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a report on Monday, September 20th. Finally, Morgan Stanley boosted their target price on shares of Mplx from $35.00 to $37.00 and gave the company an “equal weight” rating in a report on Tuesday.

In other Mplx news, COO Gregory Scott Floerke sold 5,000 shares of the stock in a transaction on Monday, November 8th. The shares were sold at an average price of $31.26, for a total transaction of $156,300.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Frank M. Semple sold 27,000 shares of the stock in a transaction on Monday, November 8th. The stock was sold at an average price of $32.00, for a total transaction of $864,000.00. The disclosure for this sale can be found here.

Institutional investors have recently added to or reduced their stakes in the company. Moors & Cabot Inc. grew its position in shares of Mplx by 33.1% during the third quarter. Moors & Cabot Inc. now owns 25,000 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 6,215 shares during the last quarter. PSI Advisors LLC bought a new position in Mplx in the 3rd quarter valued at about $30,000. Meeder Asset Management Inc. bought a new position in Mplx in the 2nd quarter valued at about $31,000. TFO TDC LLC acquired a new stake in Mplx in the 3rd quarter valued at about $35,000. Finally, NuWave Investment Management LLC acquired a new stake in Mplx in the 3rd quarter valued at about $49,000. Institutional investors and hedge funds own 90.04% of the company’s stock.

Shares of NYSE MPLX traded up $0.44 during midday trading on Friday, reaching $31.05. 1,244,485 shares of the stock were exchanged, compared to its average volume of 2,200,966. Mplx has a 52-week low of $20.91 and a 52-week high of $32.26. The stock has a 50 day moving average price of $30.11 and a 200-day moving average price of $29.23. The company has a market capitalization of $31.67 billion, a P/E ratio of 11.46 and a beta of 1.84. The company has a current ratio of 0.56, a quick ratio of 0.51 and a debt-to-equity ratio of 1.51.

Mplx (NYSE:MPLX) last released its earnings results on Tuesday, November 2nd. The pipeline company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. Mplx had a net margin of 30.79% and a return on equity of 24.02%. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the previous year, the firm earned $0.61 earnings per share. On average, analysts forecast that Mplx will post 2.8 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 19th. Stockholders of record on Friday, November 12th were given a dividend of $0.705 per share. This is a boost from Mplx’s previous quarterly dividend of $0.69. This represents a $2.82 dividend on an annualized basis and a dividend yield of 9.08%. The ex-dividend date was Wednesday, November 10th. Mplx’s payout ratio is presently 104.06%.

About Mplx

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets; and distribution fuels services. It operates through the Logistics and Storage (L&S), and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products and water.

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Analyst Recommendations for Mplx (NYSE:MPLX)

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