Mplx (NYSE:MPLX) PT Lowered to $45.00 at Barclays

Mplx (NYSE:MPLX) had its target price reduced by Barclays from $46.00 to $45.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an overweight rating on the pipeline company’s stock.

Other analysts have also issued reports about the company. Wells Fargo & Company boosted their price target on Mplx from $47.00 to $50.00 and gave the company an overweight rating in a report on Wednesday, August 7th. StockNews.com raised Mplx from a buy rating to a strong-buy rating in a research report on Sunday, August 11th. Finally, Royal Bank of Canada reaffirmed an outperform rating and issued a $47.00 target price on shares of Mplx in a research report on Wednesday, August 28th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $46.56.

Mplx Stock Performance

Shares of Mplx stock opened at $44.05 on Monday. The firm has a market cap of $44.76 billion, a price-to-earnings ratio of 11.35, a price-to-earnings-growth ratio of 1.19 and a beta of 1.37. The stock’s 50-day moving average is $42.48 and its 200-day moving average is $41.62. Mplx has a one year low of $34.52 and a one year high of $44.49. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.99 and a quick ratio of 0.95.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.17. The company had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.96 billion. Mplx had a return on equity of 32.68% and a net margin of 35.95%. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 earnings per share. Equities analysts predict that Mplx will post 4.24 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 9th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 7.72%. The ex-dividend date was Friday, August 9th. Mplx’s dividend payout ratio (DPR) is presently 87.63%.

Hedge Funds Weigh In On Mplx

Institutional investors have recently bought and sold shares of the business. Sei Investments Co. increased its position in Mplx by 47.4% during the first quarter. Sei Investments Co. now owns 51,740 shares of the pipeline company’s stock worth $2,150,000 after buying an additional 16,637 shares during the last quarter. Allianz Asset Management GmbH increased its position in Mplx by 170.6% during the fourth quarter. Allianz Asset Management GmbH now owns 637,100 shares of the pipeline company’s stock worth $23,394,000 after buying an additional 401,700 shares during the last quarter. Pingora Partners LLC acquired a new position in Mplx during the fourth quarter worth approximately $1,253,000. Wealth Enhancement Advisory Services LLC increased its position in Mplx by 22.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 81,884 shares of the pipeline company’s stock worth $3,487,000 after buying an additional 14,782 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Mplx during the first quarter worth approximately $799,000. Institutional investors and hedge funds 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.