BidaskClub upgraded shares of Mplx Lp (NYSE:MPLX) from a strong sell rating to a sell rating in a research note released on Tuesday, October 31st.
MPLX has been the topic of a number of other reports. UBS AG lifted their price target on Mplx Lp from $43.00 to $44.00 and gave the stock a buy rating in a research note on Friday, October 27th. Zacks Investment Research downgraded Mplx Lp from a hold rating to a sell rating in a research report on Wednesday, October 18th. Scotiabank reiterated a buy rating and set a $44.00 price objective on shares of Mplx Lp in a research report on Wednesday, October 4th. Barclays PLC restated a buy rating and issued a $39.00 target price on shares of Mplx Lp in a research report on Thursday, October 19th. Finally, Jefferies Group LLC reduced their target price on Mplx Lp from $42.00 to $41.00 and set a buy rating on the stock in a research report on Monday, August 28th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $41.75.
Mplx Lp (NYSE MPLX) opened at $34.78 on Tuesday. Mplx Lp has a 12 month low of $30.88 and a 12 month high of $39.43. The stock has a market capitalization of $14,446.67, a PE ratio of 38.22, a PEG ratio of 4.94 and a beta of 1.35. The company has a quick ratio of 0.48, a current ratio of 0.54 and a debt-to-equity ratio of 0.68.
Mplx Lp (NYSE:MPLX) last posted its earnings results on Thursday, October 26th. The pipeline company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. The firm had revenue of $980.00 million for the quarter, compared to analyst estimates of $965.07 million. Mplx Lp had a return on equity of 5.87% and a net margin of 16.79%. Mplx Lp’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same period last year, the company earned $0.21 earnings per share. research analysts anticipate that Mplx Lp will post 1.01 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Monday, November 6th will be paid a dividend of $0.5875 per share. The ex-dividend date is Friday, November 3rd. This is an increase from Mplx Lp’s previous quarterly dividend of $0.56. This represents a $2.35 annualized dividend and a yield of 6.76%. Mplx Lp’s dividend payout ratio is currently 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 stock was sold at an average price of $34.50, for a total transaction of $86,250.00. Following the sale, the vice president now owns 123,705 shares in the company, valued at approximately $4,267,822.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have sold 8,000 shares of company stock valued at $276,910.
Institutional investors and hedge funds have recently modified their holdings of the stock. Marshall Wace North America L.P. purchased a new position in Mplx Lp in the second quarter valued at about $2,971,000. First Trust Advisors LP acquired a new stake in shares of Mplx Lp during the second quarter valued at about $5,064,000. Spirit of America Management Corp NY grew its stake in shares of Mplx Lp by 8.4% during the third quarter. Spirit of America Management Corp NY now owns 739,479 shares of the pipeline company’s stock valued at $25,889,000 after acquiring an additional 57,400 shares in the last quarter. Johnson Financial Group LLC acquired a new position in Mplx Lp in the second quarter worth about $254,000. Finally, American International Group Inc. acquired a new position in Mplx Lp in the first quarter worth about $567,000. 62.86% of the stock is currently owned by institutional investors and hedge funds.
About Mplx Lp
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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