Mplx Lp (NYSE:MPLX) Receives Average Rating of “Hold” from Analysts

Mplx Lp (NYSE:MPLXGet Rating) has earned a consensus rating of “Hold” from the eleven ratings firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $37.31.

A number of brokerages recently issued reports on MPLX. Bank Of America (Bofa) lowered Mplx to an “underperform” rating in a report on Thursday, September 29th. Bank of America downgraded Mplx from a “buy” rating to an “underperform” rating and set a $34.00 price objective for the company. in a research report on Thursday, September 29th. StockNews.com lowered Mplx from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 15th. Wolfe Research raised shares of Mplx from a “peer perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a research note on Monday, January 9th. Finally, Wells Fargo & Company lowered their target price on shares of Mplx from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, November 7th.

Mplx Stock Performance

Shares of MPLX stock opened at $33.96 on Thursday. The stock has a fifty day moving average price of $33.02 and a 200 day moving average price of $32.22. The stock has a market cap of $34.07 billion, a PE ratio of 9.06 and a beta of 1.45. Mplx has a 1 year low of $27.47 and a 1 year high of $35.49. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.72 and a current ratio of 0.78.

Mplx (NYSE:MPLXGet Rating) last posted its quarterly earnings results on Tuesday, November 1st. The pipeline company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.15. Mplx had a return on equity of 30.60% and a net margin of 33.87%. The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $2.76 billion. Sell-side analysts forecast that Mplx will post 3.86 earnings per share for the current fiscal year.

Mplx Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 22nd. Investors of record on Tuesday, November 15th were given a dividend of $0.775 per share. This is a positive change from Mplx’s previous quarterly dividend of $0.71. The ex-dividend date was Monday, November 14th. This represents a $3.10 annualized dividend and a dividend yield of 9.13%. Mplx’s dividend payout ratio (DPR) is currently 82.67%.

Institutional Trading of Mplx

A number of hedge funds have recently added to or reduced their stakes in the stock. Castle Wealth Management LLC increased its stake in Mplx by 365.0% in the third quarter. Castle Wealth Management LLC now owns 930 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 730 shares in the last quarter. Ronald Blue Trust Inc. purchased a new position in Mplx in the 2nd quarter worth approximately $31,000. Chilton Capital Management LLC purchased a new position in Mplx in the 2nd quarter worth approximately $32,000. Money Concepts Capital Corp purchased a new stake in shares of Mplx in the 3rd quarter valued at $33,000. Finally, MinichMacGregor Wealth Management LLC purchased a new stake in Mplx during the 4th quarter valued at $33,000. Institutional investors and hedge funds own 23.62% of the company’s stock.

Mplx Company Profile

(Get Rating)

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Logistics and Storage (L&S) and Gathering 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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Analyst Recommendations for Mplx (NYSE:MPLX)

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