Mplx Lp (NYSE:MPLX – Get Free Report) announced a quarterly dividend on Tuesday, July 30th, Wall Street Journal reports. Investors of record on Friday, August 9th will be given a dividend of 0.85 per share by the pipeline company on Friday, August 16th. This represents a $3.40 annualized dividend and a yield of 7.94%. The ex-dividend date of this dividend is Friday, August 9th.
Mplx has raised its dividend payment by an average of 4.9% per year over the last three years. Mplx has a dividend payout ratio of 78.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Mplx to earn $4.32 per share next year, which means the company should continue to be able to cover its $3.40 annual dividend with an expected future payout ratio of 78.7%.
Mplx Trading Down 0.7 %
Shares of MPLX stock traded down $0.30 during trading hours on Wednesday, reaching $42.81. 1,232,174 shares of the stock traded hands, compared to its average volume of 1,973,812. Mplx has a 1-year low of $34.32 and a 1-year high of $43.42. The business has a fifty day moving average price of $41.74 and a 200 day moving average price of $40.58. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $43.50 billion, a PE ratio of 11.15, a PEG ratio of 2.15 and a beta of 1.37.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on MPLX. Truist Financial boosted their price target on shares of Mplx from $43.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. StockNews.com upgraded shares of Mplx from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 26th. UBS Group upped their price objective on shares of Mplx from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. upped their price objective on shares of Mplx from $45.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Finally, Barclays upped their price objective on shares of Mplx from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, July 12th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $45.75.
Get Our Latest Research Report on Mplx
About Mplx
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.
Recommended Stories
- Five stocks we like better than Mplx
- Consumer Discretionary Stocks Explained
- Joby Aviation Stock: The Case for Upside Just Got Stronger
- Why Special Dividends Can be a Delightful Surprise for Income Investors
- Conviction Firms for Microsoft’s Double-Digit Stock Upside
- About the Markup Calculator
- 5 Aggressive Growth Stocks for Long-Term Investors
Receive News & Ratings for Mplx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mplx and related companies with MarketBeat.com's FREE daily email newsletter.