Mplx Lp (MPLX) To Go Ex-Dividend on August 7th

Mplx Lp (NYSE:MPLX) declared a quarterly dividend on Tuesday, July 28th. Investors of record on Friday, August 7th will be given a dividend of 1.0765 per share by the pipeline company on Friday, August 14th. This represents a c) annualized dividend and a yield of 7.5%. The ex-dividend date of this dividend is Friday, August 7th.

Mplx has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 9 consecutive years. Mplx has a dividend payout ratio of 88.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Mplx to earn $4.70 per share next year, which means the company should continue to be able to cover its $4.30 annual dividend with an expected future payout ratio of 91.5%.

Mplx Price Performance

Shares of MPLX stock opened at $57.77 on Thursday. The stock has a 50 day moving average price of $56.64 and a 200 day moving average price of $56.52. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.05 and a current ratio of 1.10. The firm has a market capitalization of $58.62 billion, a P/E ratio of 12.51, a P/E/G ratio of 5.63 and a beta of 0.47. Mplx has a 52-week low of $47.80 and a 52-week high of $60.00.

Mplx (NYSE:MPLX) last announced its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.15). The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $3.09 billion. Mplx had a net margin of 36.38% and a return on equity of 32.74%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.10 EPS. As a group, sell-side analysts predict that Mplx will post 4.25 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MPLX shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Mplx in a research note on Thursday, July 2nd. Weiss Ratings downgraded Mplx from a “buy (a)” rating to a “buy (a-)” rating in a research report on Monday, May 18th. Truist Financial decreased their price target on Mplx from $67.00 to $66.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Morgan Stanley decreased their price target on shares of Mplx from $62.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 20th. Finally, Wolfe Research downgraded Mplx from an “outperform” rating to a “peer perform” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $61.60.

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.