Mplx Lp (NYSE:MPLX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Mplx Lp (NYSE:MPLX) have received an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating and eight have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $49.44.

A number of equities research analysts have issued reports on MPLX shares. Barclays increased their price objective on shares of Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Bank of America started coverage on shares of Mplx in a research note on Thursday, October 17th. They set an “underperform” rating and a $43.00 price objective on the stock. UBS Group increased their price objective on shares of Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Truist Financial increased their target price on shares of Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, StockNews.com cut shares of Mplx from a “strong-buy” rating to a “buy” rating in a report on Friday.

Mplx Trading Down 0.8 %

MPLX stock opened at $49.09 on Tuesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. The company’s 50-day simple moving average is $45.12 and its 200 day simple moving average is $43.01. Mplx has a 52 week low of $35.51 and a 52 week high of $49.88. The company has a market capitalization of $50.01 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 2.89 and a beta of 1.37.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). The firm 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 company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.89 earnings per share. As a group, sell-side analysts anticipate that Mplx will post 4.26 earnings per share for the current year.

Mplx Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were issued a $0.9565 dividend. This represents a $3.83 dividend on an annualized basis and a yield of 7.79%. The ex-dividend date was Friday, November 8th. This is a positive change from Mplx’s previous quarterly dividend of $0.85. Mplx’s dividend payout ratio (DPR) is 90.33%.

Insider Activity at Mplx

In other Mplx news, VP Carl Kristopher Hagedorn sold 4,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MPLX. CWM LLC raised its holdings in 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 purchasing an additional 451 shares during the last quarter. Summit Securities Group LLC grew its position in shares of Mplx by 450.0% during the 2nd quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company’s stock worth $47,000 after buying an additional 900 shares during the period. Cedar Wealth Management LLC acquired a new stake in shares of Mplx during the 3rd quarter worth approximately $51,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Mplx during the 2nd quarter worth approximately $67,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Mplx during the 2nd quarter worth approximately $88,000. 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.