FY2024 EPS Estimates for Mplx Lifted by US Capital Advisors

Mplx Lp (NYSE:MPLX) – Equities research analysts at US Capital Advisors boosted their FY2024 earnings per share estimates for shares of Mplx in a report released on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will earn $4.17 per share for the year, up from their previous estimate of $4.16. The consensus estimate for Mplx’s current full-year earnings is $4.26 per share.

Mplx (NYSE:MPLX) last announced its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.09 billion. Mplx had a return on equity of 32.70% and a net margin of 36.77%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted $0.89 earnings per share.

Other analysts have also issued reports about the company. Truist Financial raised their price objective on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Barclays lifted their price target on shares of Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. UBS Group upped their price objective on shares of Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Wells Fargo & Company boosted their target price on shares of Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Bank of America initiated coverage on shares of Mplx in a research note on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price target on the stock. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.44.

Mplx Price Performance

NYSE:MPLX opened at $50.52 on Thursday. The stock has a market capitalization of $51.47 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 2.87 and a beta of 1.37. Mplx has a 52 week low of $35.51 and a 52 week high of $50.73. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40. The stock’s 50-day moving average price is $45.37 and its 200-day moving average price is $43.12.

Mplx Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were paid a $0.9565 dividend. This represents a $3.83 dividend on an annualized basis and a yield of 7.57%. This is a positive change from Mplx’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, November 8th. Mplx’s dividend payout ratio (DPR) is 90.33%.

Insider Transactions at Mplx

In other Mplx news, VP Carl Kristopher Hagedorn sold 4,000 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $47.24, for a total value of $188,960.00. Following the completion of the sale, the vice president now directly owns 14,750 shares of the company’s stock, valued at $696,790. This trade represents a 21.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Investors Weigh In On Mplx

A number of hedge funds have recently modified their holdings of the company. Captrust Financial Advisors boosted its holdings in Mplx by 0.4% in the 3rd quarter. Captrust Financial Advisors now owns 60,475 shares of the pipeline company’s stock valued at $2,689,000 after purchasing an additional 231 shares during the last quarter. Mcdonald Partners LLC grew its position in Mplx by 1.4% in the second quarter. Mcdonald Partners LLC now owns 17,180 shares of the pipeline company’s stock worth $732,000 after acquiring an additional 239 shares during the period. Sheaff Brock Investment Advisors LLC increased its stake in Mplx by 1.4% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 19,701 shares of the pipeline company’s stock worth $876,000 after acquiring an additional 268 shares during the last quarter. Cherry Creek Investment Advisors Inc. raised its position in Mplx by 2.0% in the third quarter. Cherry Creek Investment Advisors Inc. now owns 14,204 shares of the pipeline company’s stock valued at $632,000 after purchasing an additional 279 shares during the period. Finally, Sound Income Strategies LLC lifted its stake in shares of Mplx by 10.4% in the 2nd quarter. Sound Income Strategies LLC now owns 2,992 shares of the pipeline company’s stock valued at $127,000 after purchasing an additional 282 shares during the last quarter. Hedge funds and other institutional investors 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.