Mplx Lp (NYSE:MPLX) Stock Has Consensus Target Price of $63.80 According to Brokerages

Shares of Mplx Lp (NYSE:MPLX) have been given a consensus rating of “Moderate Buy” by the fourteen analysts that are covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $63.80.

Several brokerages recently commented on MPLX. Morgan Stanley raised their target price on Mplx from $60.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 12th. Weiss Ratings restated a “buy (a-)” rating on shares of Mplx in a research note on Thursday, August 13th. Stifel Nicolaus assumed coverage on Mplx in a report on Thursday, September 10th. They set a “hold” rating and a $65.00 price objective on the stock. Wells Fargo & Company lifted their price objective on Mplx from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Finally, Royal Bank Of Canada increased their price objective on Mplx from $60.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, August 21st.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Energy Income Partners LLC bought a new stake in Mplx during the 2nd quarter worth about $303,072,000. Clearbridge Investments LLC raised its stake in shares of Mplx by 7.9% in the fourth quarter. Clearbridge Investments LLC now owns 2,343,689 shares of the pipeline company’s stock worth $125,083,000 after acquiring an additional 172,000 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Mplx by 45.5% in the first quarter. Royal Bank of Canada now owns 1,151,905 shares of the pipeline company’s stock worth $65,739,000 after acquiring an additional 360,427 shares during the last quarter. Epoch Investment Partners Inc. lifted its position in shares of Mplx by 10.8% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,156,589 shares of the pipeline company’s stock worth $61,727,000 after purchasing an additional 112,738 shares in the last quarter. Finally, Infrastructure Capital Advisors LLC lifted its position in shares of Mplx by 2.9% during the first quarter. Infrastructure Capital Advisors LLC now owns 1,068,251 shares of the pipeline company’s stock worth $60,965,000 after purchasing an additional 30,267 shares in the last quarter. 24.25% of the stock is owned by institutional investors.

Mplx Trading Up 0.0%

Mplx stock opened at $56.40 on Friday. The business has a 50 day moving average price of $58.80 and a two-hundred day moving average price of $57.20. 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 has a 12 month low of $47.80 and a 12 month high of $60.95. The stock has a market cap of $57.18 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 5.36 and a beta of 0.49.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $1.06 earnings per share for the quarter, hitting the consensus estimate of $1.06. The company had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.14 billion. Mplx had a return on equity of 32.83% and a net margin of 35.75%.Mplx’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 EPS. As a group, equities analysts forecast that Mplx will post 4.26 EPS for the current year.

Mplx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, August 7th were issued a dividend of $1.0765 per share. This represents a $4.31 annualized dividend and a dividend yield of 7.6%. The ex-dividend date was Friday, August 7th. Mplx’s dividend payout ratio is presently 92.69%.

Mplx Company Profile

MPLX LP (NYSE:MPLX) is a diversified master limited partnership that owns and operates midstream energy infrastructure in the United States. The company provides transportation, storage and logistics services for crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs), primarily under long-term commercial arrangements with energy producers, refiners and other customers.

MPLX’s assets include crude oil and refined-products pipelines, storage facilities, marine and inland waterway terminals, rail and truck transportation operations, and gathering and processing systems.