StockNews.com cut shares of Mplx (NYSE:MPLX – Free Report) from a strong-buy rating to a buy rating in a research note issued to investors on Monday.
Several other research firms have also weighed in on MPLX. Barclays raised their price objective on Mplx from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Bank of America assumed coverage on Mplx in a research note on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price objective on the stock. Royal Bank of Canada raised their price objective on Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Wells Fargo & Company lifted their price target on Mplx from $53.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, UBS Group lifted their price target on Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to MarketBeat, Mplx presently has an average rating of “Moderate Buy” and a consensus target price of $49.89.
Get Our Latest Analysis on MPLX
Mplx Stock Performance
Mplx (NYSE:MPLX – Get Free Report) last released its earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.04). The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.09 billion. Mplx had a return on equity of 32.70% and a net margin of 36.77%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the company posted $0.89 earnings per share. Sell-side analysts expect that Mplx will post 4.18 EPS for the current fiscal year.
Mplx Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a dividend of $0.9565 per share. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.53%. The ex-dividend date is Monday, February 3rd. Mplx’s payout ratio is currently 90.09%.
Insider Activity at Mplx
In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $47.24, for a total transaction of $188,960.00. Following the completion of the sale, the vice president now owns 14,750 shares in the company, valued at approximately $696,790. This trade represents a 21.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Hedge Funds Weigh In On Mplx
Large investors have recently modified their holdings of the business. Captrust Financial Advisors grew its stake in Mplx by 0.4% during the third quarter. Captrust Financial Advisors now owns 60,475 shares of the pipeline company’s stock valued at $2,689,000 after acquiring an additional 231 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its stake in Mplx by 1.4% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 19,701 shares of the pipeline company’s stock valued at $876,000 after acquiring an additional 268 shares in the last quarter. Cherry Creek Investment Advisors Inc. grew its stake in Mplx by 2.0% during the third quarter. Cherry Creek Investment Advisors Inc. now owns 14,204 shares of the pipeline company’s stock valued at $632,000 after acquiring an additional 279 shares in the last quarter. FORA Capital LLC grew its stake in Mplx by 2.2% during the third quarter. FORA Capital LLC now owns 15,320 shares of the pipeline company’s stock valued at $681,000 after acquiring an additional 332 shares in the last quarter. Finally, Fidelis Capital Partners LLC grew its stake in Mplx by 3.9% during the third quarter. Fidelis Capital Partners LLC now owns 9,032 shares of the pipeline company’s stock valued at $396,000 after acquiring an additional 338 shares in the last quarter. Hedge funds and other institutional investors own 24.25% of the company’s stock.
Mplx Company Profile
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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