Mplx (NYSE:MPLX) Issues Quarterly Earnings Results

Mplx (NYSE:MPLX) issued its earnings results on Tuesday. The pipeline company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.03, Zacks reports. The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Mplx had a return on equity of 32.70% and a net margin of 36.77%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.10 earnings per share.

Mplx Price Performance

Mplx stock opened at $53.00 on Wednesday. The business’s fifty day moving average is $49.49 and its two-hundred day moving average is $45.91. The firm has a market cap of $54.00 billion, a P/E ratio of 12.51, a P/E/G ratio of 2.33 and a beta of 1.42. Mplx has a 52 week low of $37.44 and a 52 week high of $53.55. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99.

Mplx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.9565 per share. This represents a $3.83 dividend on an annualized basis and a yield of 7.22%. The ex-dividend date is Monday, February 3rd. Mplx’s dividend payout ratio is 90.09%.

Analysts Set New Price Targets

MPLX has been the topic of several research reports. Wells Fargo & Company raised their price target on Mplx from $53.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Truist Financial raised their price objective on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Royal Bank of Canada lifted their price objective on shares of Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Bank of America started coverage on Mplx in a research note on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price objective for the company. Finally, StockNews.com lowered shares of Mplx from a “strong-buy” rating to a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.50.

Insider Activity

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $47.24, for a total value of $188,960.00. Following the completion of the transaction, the vice president now owns 14,750 shares of the company’s stock, valued at approximately $696,790. This trade represents a 21.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

About Mplx

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Logistics and Storage (L&S) and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.