Mplx (NYSE:MPLX) Sets New 52-Week High at $45.24

Mplx Lp (NYSE:MPLX)’s share price reached a new 52-week high on Wednesday . The company traded as high as $45.24 and last traded at $45.13, with a volume of 94993 shares trading hands. The stock had previously closed at $45.09.

Wall Street Analyst Weigh In

A number of analysts have issued reports on MPLX shares. Barclays decreased their price target on Mplx from $46.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, September 16th. StockNews.com cut Mplx from a “strong-buy” rating to a “buy” rating in a research note on Monday. Wells Fargo & Company increased their price target on shares of Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. UBS Group boosted their price objective on shares of Mplx from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. 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. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $46.56.

Mplx Trading Up 0.1 %

The business’s 50-day moving average price is $42.68 and its 200-day moving average price is $41.75. The firm has a market capitalization of $46.07 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 1.24 and a beta of 1.37. 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 data on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.17. Mplx had a net margin of 35.95% and a return on equity of 32.68%. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same period last year, the firm posted $0.91 EPS. Mplx’s revenue for the quarter was up 13.5% on a year-over-year basis. As a group, analysts expect that Mplx Lp will post 4.24 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 9th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 7.53%. The ex-dividend date was Friday, August 9th. Mplx’s dividend payout ratio is presently 87.63%.

Institutional Investors Weigh In On Mplx

Several hedge funds have recently modified their holdings of MPLX. Quent Capital LLC purchased a new position in Mplx during the 1st quarter worth $35,000. Pacifica Partners Inc. acquired a new stake in Mplx in the first quarter valued at about $41,000. Crewe Advisors LLC purchased a new stake in Mplx in the 1st quarter valued at approximately $41,000. Register Financial Advisors LLC acquired a new position in Mplx during the 1st quarter worth approximately $42,000. Finally, CWM LLC raised its stake in shares of Mplx by 73.3% during the 2nd quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock worth $45,000 after buying an additional 451 shares in the last quarter. 24.25% of the stock is owned by institutional investors and hedge funds.

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.