Mplx (NYSE:MPLX) Announces Quarterly Earnings Results

Mplx (NYSE:MPLX) announced its quarterly earnings data on Tuesday. The pipeline company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.07, FiscalAI reports. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Mplx had a net margin of 37.61% and a return on equity of 34.14%.

Mplx Trading Down 1.0%

Shares of NYSE MPLX opened at $55.32 on Tuesday. Mplx has a 1-year low of $44.60 and a 1-year high of $57.15. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 1.66. The company has a 50-day moving average of $54.51 and a two-hundred day moving average of $52.06. The company has a market cap of $56.26 billion, a PE ratio of 11.72, a P/E/G ratio of 5.06 and a beta of 0.57.

Mplx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th will be given a $1.0765 dividend. This represents a $4.31 annualized dividend and a yield of 7.8%. The ex-dividend date is Monday, February 9th. Mplx’s dividend payout ratio (DPR) is presently 91.31%.

Analysts Set New Price Targets

A number of brokerages have commented on MPLX. Barclays raised their price target on shares of Mplx from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. Royal Bank Of Canada boosted their price target on Mplx from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, November 21st. Morgan Stanley increased their price objective on Mplx from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 25th. Weiss Ratings restated a “buy (a-)” rating on shares of Mplx in a research note on Monday, December 29th. Finally, Zacks Research upgraded shares of Mplx from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $59.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Wiser Advisor Group LLC bought a new stake in shares of Mplx during the third quarter worth $38,000. WFA of San Diego LLC acquired a new position in Mplx during the 2nd quarter valued at about $52,000. Ancora Advisors LLC boosted its stake in shares of Mplx by 10.1% in the 3rd quarter. Ancora Advisors LLC now owns 3,277 shares of the pipeline company’s stock valued at $164,000 after purchasing an additional 300 shares during the last quarter. Visionary Wealth Advisors grew its position in shares of Mplx by 4.1% during the 2nd quarter. Visionary Wealth Advisors now owns 5,866 shares of the pipeline company’s stock worth $302,000 after buying an additional 232 shares during the period. Finally, United Capital Financial Advisors LLC raised its stake in shares of Mplx by 5.7% during the third quarter. United Capital Financial Advisors LLC now owns 6,075 shares of the pipeline company’s stock worth $303,000 after buying an additional 327 shares during the last quarter. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Company Profile

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.