Barclays Increases Mplx (NYSE:MPLX) Price Target to $45.00

Mplx (NYSE:MPLX) had its target price boosted by Barclays from $43.00 to $45.00 in a report released on Friday, Benzinga reports. The firm currently has an overweight rating on the pipeline company’s stock.

A number of other brokerages have also issued reports on MPLX. JPMorgan Chase & Co. raised their price target on Mplx from $45.00 to $46.00 and gave the stock an overweight rating in a research note on Friday, May 3rd. UBS Group lifted their price objective on Mplx from $46.00 to $49.00 and gave the stock a buy rating in a report on Friday, April 12th. StockNews.com lowered Mplx from a strong-buy rating to a buy rating in a research report on Monday, June 24th. Stifel Nicolaus boosted their price target on Mplx from $45.00 to $47.00 and gave the stock a buy rating in a research report on Wednesday, May 1st. Finally, Truist Financial boosted their price target on Mplx from $43.00 to $48.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $45.33.

Mplx Trading Up 1.1 %

NYSE:MPLX opened at $42.37 on Friday. The stock has a fifty day moving average price of $41.34 and a two-hundred day moving average price of $40.12. The stock has a market capitalization of $43.06 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 2.10 and a beta of 1.37. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.67 and a current ratio of 0.72. Mplx has a 1 year low of $34.24 and a 1 year high of $43.07.

Mplx (NYSE:MPLX) last announced its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). Mplx had a net margin of 34.96% and a return on equity of 31.70%. The firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the prior year, the business earned $0.91 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Mplx will post 4.01 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 13th. Stockholders of record on Friday, May 3rd were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 8.02%. The ex-dividend date of this dividend was Thursday, May 2nd. Mplx’s dividend payout ratio is presently 87.63%.

Institutional Trading of Mplx

Hedge funds have recently bought and sold shares of the company. PSI Advisors LLC lifted its stake in Mplx by 63.6% during the fourth quarter. PSI Advisors LLC now owns 900 shares of the pipeline company’s stock valued at $33,000 after buying an additional 350 shares in the last quarter. Quent Capital LLC bought a new position in Mplx during the first quarter valued at approximately $35,000. HBC Financial Services PLLC acquired a new position in Mplx during the fourth quarter valued at approximately $36,000. Fortitude Family Office LLC acquired a new position in Mplx during the fourth quarter valued at approximately $41,000. Finally, Pacifica Partners Inc. acquired a new stake in shares of Mplx in the first quarter worth $41,000. 24.25% of the stock is owned by hedge funds and other institutional investors.

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.