BidaskClub upgraded shares of Mplx Lp (NYSE:MPLX) from a strong sell rating to a sell rating in a research note published on Tuesday, October 31st.
Several other brokerages have also commented on MPLX. Zacks Investment Research lowered shares of Mplx Lp from a hold rating to a sell rating in a research note on Wednesday, October 18th. Stifel Nicolaus restated a buy rating and set a $42.00 price target (down previously from $43.00) on shares of Mplx Lp in a research note on Tuesday, September 5th. Barclays PLC restated a buy rating and set a $39.00 price target on shares of Mplx Lp in a research note on Thursday, October 19th. Scotiabank set a $44.00 price target on shares of Mplx Lp and gave the stock a buy rating in a research note on Saturday, July 22nd. Finally, UBS AG raised their target price on shares of Mplx Lp from $43.00 to $44.00 and gave the company a buy rating in a research note on Friday, October 27th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $41.67.
Mplx Lp (NYSE MPLX) traded up $0.04 during trading on Tuesday, reaching $34.47. 1,022,759 shares of the company’s stock traded hands, compared to its average volume of 1,484,596. The firm has a market cap of $14,317.91, a price-to-earnings ratio of 37.88, a PEG ratio of 4.89 and a beta of 1.35. The company has a current ratio of 0.54, a quick ratio of 0.48 and a debt-to-equity ratio of 0.68. Mplx Lp has a 1 year low of $30.88 and a 1 year high of $39.43.
Mplx Lp (NYSE:MPLX) last announced its quarterly earnings results on Thursday, October 26th. The pipeline company reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. Mplx Lp had a net margin of 16.79% and a return on equity of 5.87%. The company had revenue of $980.00 million for the quarter, compared to analyst estimates of $965.07 million. During the same quarter in the prior year, the business posted $0.21 EPS. Mplx Lp’s quarterly revenue was up 16.9% on a year-over-year basis. research analysts expect that Mplx Lp will post 1.01 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Monday, November 6th were issued a $0.5875 dividend. The ex-dividend date was Friday, November 3rd. This is an increase from Mplx Lp’s previous quarterly dividend of $0.56. This represents a $2.35 dividend on an annualized basis and a yield of 6.82%. Mplx Lp’s dividend payout ratio is 258.24%.
In other Mplx Lp news, VP C Corwin Bromley sold 2,500 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $34.50, for a total value of $86,250.00. Following the completion of the sale, the vice president now directly owns 123,705 shares of the company’s stock, valued at approximately $4,267,822.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last three months, insiders sold 8,000 shares of company stock valued at $276,910.
Institutional investors have recently modified their holdings of the business. Ffcm LLC bought a new stake in Mplx Lp in the 2nd quarter valued at $116,000. Pathstone Family Office LLC bought a new stake in Mplx Lp in the 2nd quarter valued at $119,000. Cedar Wealth Management LLC boosted its holdings in Mplx Lp by 17.6% in the 2nd quarter. Cedar Wealth Management LLC now owns 5,490 shares of the pipeline company’s stock valued at $183,000 after purchasing an additional 820 shares during the period. Tower Research Capital LLC TRC bought a new position in shares of Mplx Lp during the 2nd quarter worth about $191,000. Finally, Saratoga Research & Investment Management bought a new position in shares of Mplx Lp during the 3rd quarter worth about $192,000. 58.55% of the stock is owned by hedge funds and other institutional investors.
Mplx Lp Company Profile
MPLX LP is a master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets. The Company is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids (NGLs), and the gathering, transportation and storage of crude oil and refined petroleum products.
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