Shares of Mplx Lp (NYSE: MPLX) have received a consensus rating of “Buy” from the twelve rating companies that currently cover the company, Marketbeat reports. Two equity research analysts rated the stock with a conservation rating and nine issued a buy rating on the company. The 12-month average target price among brokerage firms that updated their equity coverage in the past year is $ 31.87.
MPLX has been the subject of several research analyst reports. Zacks Investment Research downgraded Mplx from a “custody” rating to a “buy” rating and set a target price of $ 30.00 on the stock in a report released on Monday, September 20. Morgan Stanley raised its target price on Mplx from $ 35 to $ 37.00 and gave the stock an “equal weight” rating in a report released on Tuesday, November 23. Barclays raised its price target on Mplx from $ 33.00 to $ 34.00 and assigned the company an “overweight” rating in a Tuesday October 19 research note. Wells Fargo & Company raised its price target on Mplx from $ 34.00 to $ 35 and assigned the company an “overweight” rating in a research note on Thursday, December 16. Finally, Bank of America began covering Mplx in a research note on Tuesday, September 28. They set a “buy” rating on the stock.
In addition, director Frank M. Semple sold 27,000 shares in a transaction dated Monday, November 8. The stock was sold at an average price of $ 32.00, for a total trade of $ 864,000.00. The transaction was disclosed in a file with the Securities & Exchange Commission, which is available through this link. Additionally, COO Gregory Scott Floerke sold 5,000 shares in a trade dated Monday, November 8. The stock was sold for an average price of $ 31.26, for a total value of $ 156,300.00. Disclosure of this sale can be found here.
A number of hedge funds have recently bought and sold shares of MPLX. Bank of America Corp DE increased its stake in Mplx by 42.4% in the second quarter. Bank of America Corp DE now owns 13,611,477 shares of the pipeline company valued at $ 403,036,000 after purchasing an additional 4,055,524 shares in the last quarter. Amundi acquired a new stake in the shares of Mplx in the second quarter for a value of approximately $ 31,561,000. Natixis increased its position in Mplx shares by 52.2% in the third quarter. Natixis now owns 2,475,999 shares of the pipeline company valued at $ 70,492,000 after purchasing an additional 848,900 shares during the last quarter. Salient Capital Advisors LLC increased its position in Mplx shares by 15.0% in the second quarter. Salient Capital Advisors LLC now owns 5,781,791 shares of the pipeline company valued at $ 171,199,000 after purchasing an additional 752,454 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP increased its position in Mplx shares by 9.8% in the second quarter. Kayne Anderson Capital Advisors LP now owns 7,683,997 shares of the pipeline company valued at $ 227,523,000 after purchasing an additional 686,300 shares in the last quarter. Hedge funds and other institutional investors hold 90.04% of the company’s shares.
NYSE: MPLX shares opened at $ 31.12 on Friday. The company’s fifty-day moving average price is $ 29.88, and its two-hundred-day moving average price is $ 29.24. Mplx has a 52 week low of $ 21.66 and a 52 week high of $ 32.26. The stock has a market cap of $ 31.74 billion, a price-to-earnings ratio of 11.48 and a beta of 1.83. The company has a debt to equity ratio of 1.51, a current ratio of 0.56, and a rapid ratio of 0.51.
Mplx (NYSE: MPLX) last reported quarterly results on Tuesday, November 2. The pipeline company reported earnings per share of $ 0.74 for the quarter, beating analyst consensus estimates of $ 0.71 by $ 0.03. Mplx had a return on equity of 24.02% and a net margin of 30.79%. The company posted revenue of $ 2.56 billion for the quarter, compared to $ 2.23 billion expected by analysts. During the same period of the previous year, the company reported earnings per share of $ 0.61. Research analysts expect Mplx to post 2.82 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 19. Shareholders of record on Friday, November 12 received a dividend of $ 0.705 per share. The ex-dividend date of this dividend was Wednesday, November 10. This represents a dividend of $ 2.82 on an annualized basis and a dividend yield of 9.06%. This is a positive change from Mplx’s previous quarterly dividend of $ 0.69. Mplx’s dividend payout ratio (DPR) is currently 104.06%.
MPLX LP engages in the operation of intermediate energy infrastructure and logistics assets; and fuel distribution services. It operates through the Logistics and Storage (L&S) and Collection and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes and markets crude oil, asphalt, refined petroleum products and water.
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