Mplx (NYSE:MPLX) Downgraded by StockNews.com

StockNews.com cut shares of Mplx (NYSE:MPLX) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday morning.

A number of other research firms have also issued reports on MPLX. UBS Group upped their target price on Mplx from $46.00 to $49.00 and gave the company a buy rating in a research note on Friday, April 12th. Barclays increased their target price on Mplx from $43.00 to $45.00 and gave the stock an overweight rating in a research report on Friday, July 12th. JPMorgan Chase & Co. increased their price target on Mplx from $45.00 to $46.00 and gave the company an overweight rating in a report on Friday, May 3rd. Truist Financial increased their price target on Mplx from $43.00 to $48.00 and gave the company a buy rating in a report on Thursday, May 2nd. Finally, Stifel Nicolaus raised their target price on Mplx from $45.00 to $47.00 and gave the company a buy rating in a research note on Wednesday, May 1st. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of Buy and an average target price of $45.75.

Mplx Stock Performance

NYSE MPLX opened at $41.14 on Friday. The stock has a market capitalization of $41.81 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 2.13 and a beta of 1.37. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 1.44. The business’s 50 day moving average is $41.88 and its two-hundred day moving average is $40.69. Mplx has a 12-month low of $34.47 and a 12-month high of $43.42.

Mplx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Friday, August 9th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 8.26%. The ex-dividend date of this dividend is Friday, August 9th. Mplx’s dividend payout ratio (DPR) is currently 87.63%.

Institutional Investors Weigh In On Mplx

A number of institutional investors have recently modified their holdings of MPLX. Quent Capital LLC acquired a new position in Mplx during the 1st quarter worth $35,000. PSI Advisors LLC increased its holdings in shares of Mplx by 63.6% during the fourth quarter. PSI Advisors LLC now owns 900 shares of the pipeline company’s stock worth $33,000 after buying an additional 350 shares in the last quarter. Crewe Advisors LLC bought a new stake in shares of Mplx during the first quarter valued at approximately $41,000. HBC Financial Services PLLC bought a new stake in shares of Mplx during the fourth quarter valued at approximately $36,000. Finally, Pacifica Partners Inc. bought a new stake in shares of Mplx during the first quarter valued at approximately $41,000. Institutional investors and hedge funds own 24.25% of the company’s stock.

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.