Mplx (NYSE:MPLX) Raised to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Mplx (NYSE:MPLX) from a buy rating to a strong-buy rating in a research report released on Thursday.

Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus boosted their target price on Mplx from $45.00 to $47.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. Barclays upped their price target on Mplx from $40.00 to $43.00 and gave the stock an overweight rating in a research note on Friday, April 5th. Truist Financial lifted their price target on Mplx from $43.00 to $48.00 and gave the company a buy rating in a research note on Thursday, May 2nd. UBS Group raised their price objective on Mplx from $46.00 to $49.00 and gave the company a buy rating in a research note on Friday, April 12th. Finally, JPMorgan Chase & Co. raised their price target on Mplx from $45.00 to $46.00 and gave the stock an overweight rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus target price of $45.11.

Mplx Trading Down 0.0 %

NYSE MPLX opened at $41.11 on Thursday. The company has a fifty day simple moving average of $40.95 and a two-hundred day simple moving average of $39.27. The stock has a market cap of $41.78 billion, a P/E ratio of 10.60, a P/E/G ratio of 2.06 and a beta of 1.35. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 1.44. Mplx has a 12-month low of $33.12 and a 12-month high of $42.90.

Mplx (NYSE:MPLX) last announced its earnings results on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.01). The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.89 billion. Mplx had a return on equity of 31.70% and a net margin of 34.96%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $0.91 EPS. On average, analysts forecast that Mplx will post 4.01 earnings per share for the current year.

Mplx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 13th. Stockholders of record on Friday, May 3rd were given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 8.27%. The ex-dividend date was Thursday, May 2nd. Mplx’s payout ratio is currently 87.63%.

Institutional Trading of Mplx

Institutional investors and hedge funds have recently made changes to their positions in the stock. PSI Advisors LLC raised its position in Mplx by 63.6% in the fourth quarter. PSI Advisors LLC now owns 900 shares of the pipeline company’s stock worth $33,000 after acquiring an additional 350 shares in the last quarter. Quent Capital LLC acquired a new stake in Mplx during the 1st quarter valued at $35,000. HBC Financial Services PLLC purchased a new stake in Mplx in the 4th quarter worth about $36,000. Fortitude Family Office LLC acquired a new stake in shares of Mplx during the fourth quarter worth approximately $41,000. Finally, Pacifica Partners Inc. acquired a new stake in shares of Mplx during the 1st quarter valued at $41,000. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Mplx Company Profile

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. 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; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.