Brokerages Set Mplx Lp (NYSE:MPLX) Target Price at $43.86

Mplx Lp (NYSE:MPLX) has been assigned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $43.86.

Several equities research analysts have recently issued reports on MPLX shares. Barclays lifted their price objective on shares of Mplx from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Raymond James lifted their price target on shares of Mplx from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Royal Bank of Canada lifted their price target on shares of Mplx from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. StockNews.com upgraded shares of Mplx from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 31st. Finally, UBS Group lifted their price target on shares of Mplx from $46.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, April 12th.

Mplx Stock Performance

Shares of MPLX stock opened at $39.92 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.07 and a debt-to-equity ratio of 1.52. Mplx has a 52 week low of $33.12 and a 52 week high of $42.89. The stock has a market capitalization of $40.35 billion, a PE ratio of 10.48 and a beta of 1.35. The firm has a 50 day moving average of $40.16 and a two-hundred day moving average of $37.71.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, January 30th. The pipeline company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.15. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Mplx had a net margin of 34.82% and a return on equity of 31.85%. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.78 EPS. On average, research analysts predict that Mplx will post 4.11 EPS for the current fiscal year.

Mplx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Monday, February 5th were issued a $0.85 dividend. The ex-dividend date was Friday, February 2nd. This represents a $3.40 dividend on an annualized basis and a dividend yield of 8.52%. Mplx’s payout ratio is 89.24%.

Institutional Investors Weigh In On Mplx

A number of institutional investors and hedge funds have recently made changes to their positions in MPLX. JFS Wealth Advisors LLC purchased a new position in Mplx during the third quarter worth about $33,000. PSI Advisors LLC raised its holdings in 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 purchasing an additional 350 shares in the last quarter. First Capital Advisors Group LLC. purchased a new position in Mplx during the second quarter worth about $33,000. HBC Financial Services PLLC purchased a new position in Mplx during the fourth quarter worth about $36,000. Finally, Fortitude Family Office LLC purchased a new position in Mplx during the fourth quarter worth about $41,000. 24.25% of the stock is owned by hedge funds and other institutional investors.

About Mplx

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.