Mplx FY2024 EPS Forecast Boosted by US Capital Advisors

Mplx Lp (NYSE:MPLX) – US Capital Advisors lifted their FY2024 EPS estimates for Mplx in a research report issued to clients and investors on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will earn $4.17 per share for the year, up from their previous estimate of $4.16. The consensus estimate for Mplx’s current full-year earnings is $4.26 per share.

MPLX has been the subject of a number of other reports. Wells Fargo & Company raised their price objective on shares of Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Truist Financial raised their price target on Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Royal Bank of Canada upped their price objective on Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. UBS Group lifted their price objective on Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Barclays upped their target price on shares of Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.44.

Mplx Trading Up 2.2 %

Shares of MPLX stock opened at $51.66 on Thursday. The stock has a market cap of $52.63 billion, a P/E ratio of 12.18, a P/E/G ratio of 2.95 and a beta of 1.37. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40. Mplx has a fifty-two week low of $35.51 and a fifty-two week high of $51.94. The business has a fifty day simple moving average of $45.65 and a 200-day simple moving average of $43.25.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.04). The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Mplx had a net margin of 36.77% and a return on equity of 32.70%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.89 earnings per share.

Mplx Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a dividend of $0.9565 per share. This is a positive change from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 annualized dividend and a dividend yield of 7.41%. The ex-dividend date of this dividend was Friday, November 8th. Mplx’s dividend payout ratio is presently 90.09%.

Insider Buying and Selling

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $47.24, for a total value of $188,960.00. Following the transaction, the vice president now directly owns 14,750 shares of the company’s stock, valued at approximately $696,790. This trade represents a 21.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Hedge Funds Weigh In On Mplx

A number of hedge funds have recently made changes to their positions in MPLX. Captrust Financial Advisors boosted its holdings in Mplx by 0.4% in the 3rd quarter. Captrust Financial Advisors now owns 60,475 shares of the pipeline company’s stock worth $2,689,000 after acquiring an additional 231 shares during the period. Mcdonald Partners LLC grew its holdings in Mplx by 1.4% during the 2nd quarter. Mcdonald Partners LLC now owns 17,180 shares of the pipeline company’s stock valued at $732,000 after purchasing an additional 239 shares in the last quarter. Sheaff Brock Investment Advisors LLC increased its stake in Mplx by 1.4% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 19,701 shares of the pipeline company’s stock worth $876,000 after buying an additional 268 shares during the period. Cherry Creek Investment Advisors Inc. lifted its holdings in Mplx by 2.0% in the 3rd quarter. Cherry Creek Investment Advisors Inc. now owns 14,204 shares of the pipeline company’s stock worth $632,000 after buying an additional 279 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its position in Mplx by 10.4% in the 2nd quarter. Sound Income Strategies LLC now owns 2,992 shares of the pipeline company’s stock valued at $127,000 after buying an additional 282 shares during the last quarter. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Mplx Company Profile

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.