Mplx Lp (NYSE:MPLX) declared a quarterly dividend on Tuesday, July 28th, Zacks reports. Investors of record on Friday, August 7th will be given a dividend of 0.688 per share by the pipeline company on Friday, August 14th. This represents a $2.75 dividend on an annualized basis and a yield of 15.15%. The ex-dividend date is Thursday, August 6th.
Mplx has raised its dividend by an average of 30.5% annually over the last three years and has increased its dividend every year for the last 6 years. Mplx has a dividend payout ratio of 323.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Mplx to earn $2.29 per share next year, which means the company may not be able to cover its $2.75 annual dividend with an expected future payout ratio of 120.1%.
NYSE MPLX traded down $0.41 during midday trading on Thursday, hitting $18.16. The company had a trading volume of 15,427 shares, compared to its average volume of 2,561,363. The firm has a 50-day moving average price of $18.04 and a 200-day moving average price of $18.54. The company has a market capitalization of $19.38 billion, a PE ratio of -9.06 and a beta of 1.98. The company has a current ratio of 1.09, a quick ratio of 1.01 and a debt-to-equity ratio of 1.63. Mplx has a twelve month low of $6.87 and a twelve month high of $30.53.
Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.05. The company had revenue of $992.00 million for the quarter, compared to analysts’ expectations of $2.22 billion. Mplx had a positive return on equity of 17.96% and a negative net margin of 30.40%. Mplx’s revenue was down 55.6% on a year-over-year basis. During the same quarter last year, the business earned $0.61 earnings per share. On average, equities analysts anticipate that Mplx will post 2.28 EPS for the current year.
A number of equities research analysts have issued reports on the stock. Morgan Stanley downgraded shares of Mplx from an “overweight” rating to an “equal weight” rating and set a $21.00 price objective on the stock. in a research note on Wednesday, July 15th. Credit Suisse Group lifted their price objective on shares of Mplx from $18.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Bank of America cut their target price on Mplx from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Evercore ISI assumed coverage on Mplx in a report on Monday, June 15th. They issued a “buy” rating and a $26.00 target price on the stock. Finally, ValuEngine cut Mplx from a “hold” rating to a “sell” rating in a report on Thursday, June 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $25.87.
Mplx Company Profile
MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. The company also provides fuels distribution services. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; and transportation, storage, and distribution of crude oil and refined petroleum products.
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