Mplx (NYSE:MPLX) Upgraded to “Strong-Buy” at upgraded shares of Mplx (NYSE:MPLXGet Rating) from a buy rating to a strong-buy rating in a report published on Monday.

A number of other research firms have also issued reports on MPLX. US Capital Advisors lowered shares of Mplx from an overweight rating to a hold rating in a research report on Tuesday, July 26th. Bank Of America (Bofa) downgraded Mplx to an underperform rating in a report on Thursday, September 29th. Wells Fargo & Company dropped their price objective on Mplx from $41.00 to $40.00 and set an overweight rating on the stock in a report on Monday, November 7th. Finally, Bank of America downgraded Mplx from a buy rating to an underperform rating and set a $34.00 price objective on the stock. in a report on Thursday, September 29th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $37.57.

Mplx Price Performance

NYSE MPLX opened at $32.83 on Monday. The company has a 50 day simple moving average of $32.28 and a 200-day simple moving average of $31.64. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.78 and a quick ratio of 0.72. The firm has a market capitalization of $32.94 billion, a price-to-earnings ratio of 8.75 and a beta of 1.48. Mplx has a 52-week low of $27.47 and a 52-week high of $35.49.

Mplx Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Tuesday, November 15th will be issued a dividend of $0.775 per share. This represents a $3.10 annualized dividend and a yield of 9.44%. The ex-dividend date is Monday, November 14th. This is an increase from Mplx’s previous quarterly dividend of $0.71. Mplx’s dividend payout ratio (DPR) is 82.67%.

Hedge Funds Weigh In On Mplx

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Castle Wealth Management LLC grew its stake in shares of Mplx by 365.0% in the third quarter. Castle Wealth Management LLC now owns 930 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 730 shares during the last quarter. Ronald Blue Trust Inc. acquired a new stake in shares of Mplx in the second quarter worth $31,000. MCF Advisors LLC acquired a new stake in shares of Mplx in the first quarter worth $33,000. Money Concepts Capital Corp acquired a new stake in shares of Mplx in the third quarter worth $33,000. Finally, Chilton Capital Management LLC acquired a new stake in shares of Mplx in the second quarter worth $32,000. Institutional investors and hedge funds own 23.62% of the company’s stock.

Mplx Company Profile

(Get Rating)

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, exchange, 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 sale of residue gas and condensate.

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Analyst Recommendations for Mplx (NYSE:MPLX)

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