Brokerages Set Mplx Lp (NYSE:MPLX) PT at $62.80

Mplx Lp (NYSE:MPLX) has received a consensus recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $62.80.

Several research analysts have weighed in on MPLX shares. Wolfe Research lowered shares of Mplx from an “outperform” rating to a “peer perform” rating in a report on Wednesday, July 29th. Barclays upped their target price on shares of Mplx from $59.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Wells Fargo & Company increased their price target on shares of Mplx from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Zacks Research upgraded Mplx from a “strong sell” rating to a “hold” rating in a research note on Friday, June 5th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $60.00 price objective on shares of Mplx in a report on Thursday, July 2nd.

Institutional Investors Weigh In On Mplx

Several institutional investors and hedge funds have recently made changes to their positions in MPLX. Trust Co. of Vermont acquired a new position in Mplx in the second quarter worth $28,000. EQ Wealth Advisors LLC acquired a new stake in shares of Mplx during the fourth quarter worth $32,000. Assetmark Inc. raised its holdings in shares of Mplx by 81.5% during the first quarter. Assetmark Inc. now owns 559 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 251 shares during the period. Wiser Advisor Group LLC acquired a new stake in shares of Mplx during the third quarter worth $38,000. Finally, Prosperity Bancshares Inc bought a new position in shares of Mplx in the 4th quarter worth about $43,000. 24.25% of the stock is owned by institutional investors and hedge funds.

Mplx Stock Performance

Shares of MPLX opened at $59.17 on Thursday. The business’s 50 day moving average is $57.51 and its two-hundred day moving average is $56.88. Mplx has a 52-week low of $47.80 and a 52-week high of $60.95. The firm has a market cap of $59.99 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 5.65 and a beta of 0.48. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 1.71.

Mplx (NYSE:MPLX) last released its earnings results on Tuesday, August 4th. The pipeline company reported $1.06 EPS for the quarter, meeting the consensus estimate of $1.06. Mplx had a return on equity of 32.83% and a net margin of 35.75%.The company had revenue of $3.13 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the prior year, the business posted $1.03 EPS. The business’s revenue was up 10.3% on a year-over-year basis. Analysts forecast that Mplx will post 4.26 EPS for the current fiscal year.

Mplx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, August 7th were given a $1.0765 dividend. The ex-dividend date was Friday, August 7th. This represents a $4.31 annualized dividend and a dividend yield of 7.3%. Mplx’s dividend payout ratio (DPR) is presently 92.69%.

About Mplx

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.