Mplx (NYSE:MPLX) Reaches New 1-Year High at $43.00

Mplx Lp (NYSE:MPLX) shares reached a new 52-week high on Monday . The stock traded as high as $43.00 and last traded at $42.92, with a volume of 114230 shares changing hands. The stock had previously closed at $42.59.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Mplx from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Barclays upped their price objective on shares of Mplx from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Truist Financial boosted their price objective on Mplx from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. StockNews.com cut Mplx from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 24th. Finally, Stifel Nicolaus increased their price target on Mplx from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $45.11.

Mplx Stock Up 0.3 %

The stock’s fifty day moving average is $41.16 and its two-hundred day moving average is $39.66. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $43.42 billion, a PE ratio of 10.98, a P/E/G ratio of 2.13 and a beta of 1.37.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.01). Mplx had a return on equity of 31.70% and a net margin of 34.96%. The company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the previous year, the business earned $0.91 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, analysts predict that Mplx Lp will post 4.01 EPS for the current year.

Mplx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Friday, May 3rd were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 7.96%. The ex-dividend date of this dividend was Thursday, May 2nd. Mplx’s dividend payout ratio (DPR) is currently 87.63%.

Institutional Trading of Mplx

Institutional investors have recently modified their holdings of the business. Mcdonald Partners LLC boosted its position in shares of Mplx by 1.5% in the first quarter. Mcdonald Partners LLC now owns 16,941 shares of the pipeline company’s stock valued at $704,000 after acquiring an additional 256 shares during the period. Avalon Trust Co boosted its stake in Mplx by 23.4% during the fourth quarter. Avalon Trust Co now owns 1,711 shares of the pipeline company’s stock valued at $63,000 after buying an additional 324 shares during the period. Belfer Management LLC raised its holdings in shares of Mplx by 4.4% in the 1st quarter. Belfer Management LLC now owns 7,733 shares of the pipeline company’s stock valued at $321,000 after acquiring an additional 325 shares in the last quarter. PSI Advisors LLC boosted its position in shares of Mplx by 63.6% during the 4th quarter. PSI Advisors LLC now owns 900 shares of the pipeline company’s stock valued at $33,000 after acquiring an additional 350 shares during the last quarter. Finally, Cherry Creek Investment Advisors Inc. grew its holdings in shares of Mplx by 2.9% during the first quarter. Cherry Creek Investment Advisors Inc. now owns 13,648 shares of the pipeline company’s stock worth $567,000 after purchasing an additional 382 shares in the last quarter. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

About Mplx

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.