Mplx Lp (NYSE:MPLX) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Mplx Lp (NYSE:MPLX) have been given an average rating of “Moderate Buy” by the nine ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $49.56.

Several brokerages recently commented on MPLX. Wells Fargo & Company increased their price target on Mplx from $53.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Bank of America assumed coverage on Mplx in a report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price target for the company. StockNews.com downgraded shares of Mplx from a “strong-buy” rating to a “buy” rating in a report on Friday, November 22nd. Barclays raised their target price on shares of Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada upped their price target on shares of Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday, November 18th.

Mplx Price Performance

NYSE MPLX opened at $48.46 on Friday. Mplx has a 52-week low of $36.37 and a 52-week high of $51.94. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. The business has a 50 day simple moving average of $47.00 and a 200 day simple moving average of $44.23. The stock has a market cap of $49.37 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 2.91 and a beta of 1.42.

Mplx (NYSE:MPLX) last released its earnings results on Tuesday, November 5th. The pipeline company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.04). The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.09 billion. Mplx had a net margin of 36.77% and a return on equity of 32.70%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 EPS. Analysts anticipate that Mplx will post 4.18 earnings per share for the current fiscal year.

Mplx Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were given a $0.9565 dividend. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.90%. This is an increase from Mplx’s previous quarterly dividend of $0.85. The ex-dividend date was Friday, November 8th. Mplx’s payout ratio is presently 90.09%.

Insider Buying and Selling

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of Mplx stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $47.24, for a total value of $188,960.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Institutional Investors Weigh In On Mplx

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC raised its stake in Mplx by 23.2% during the third quarter. Tidal Investments LLC now owns 14,764 shares of the pipeline company’s stock worth $656,000 after acquiring an additional 2,785 shares in the last quarter. Sanctuary Advisors LLC increased its position in Mplx by 9.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 21,530 shares of the pipeline company’s stock worth $957,000 after purchasing an additional 1,832 shares in the last quarter. Rehmann Capital Advisory Group increased its position in Mplx by 2.1% during the 3rd quarter. Rehmann Capital Advisory Group now owns 24,201 shares of the pipeline company’s stock worth $1,076,000 after purchasing an additional 500 shares in the last quarter. Geode Capital Management LLC lifted its stake in Mplx by 5.3% in the 3rd quarter. Geode Capital Management LLC now owns 15,488 shares of the pipeline company’s stock valued at $689,000 after purchasing an additional 785 shares during the last quarter. Finally, M&T Bank Corp acquired a new stake in Mplx in the third quarter valued at approximately $2,023,000. 24.25% of the stock is currently owned by 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.