Mplx (NYSE:MPLX) Posts Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Mplx (NYSE:MPLX) posted its quarterly earnings results on Tuesday. The pipeline company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04), Briefing.com reports. Mplx had a return on equity of 32.68% and a net margin of 35.95%. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same period in the prior year, the business earned $0.89 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis.

Mplx Stock Up 0.7 %

Shares of NYSE MPLX opened at $46.77 on Thursday. Mplx has a 12-month low of $35.07 and a 12-month high of $47.00. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.41. The stock has a market cap of $47.73 billion, a P/E ratio of 11.27, a PEG ratio of 1.21 and a beta of 1.37. The business’s fifty day simple moving average is $44.01 and its 200-day simple moving average is $42.49.

Mplx Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be paid a $0.9565 dividend. The ex-dividend date is Friday, November 8th. This is a boost from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 dividend on an annualized basis and a dividend yield of 8.18%. Mplx’s payout ratio is presently 82.52%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Bank of America initiated coverage on Mplx in a report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price target on the stock. StockNews.com cut shares of Mplx from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Wells Fargo & Company raised their price target on shares of Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Barclays increased their price objective on shares of Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Royal Bank of Canada increased their price objective on shares of Mplx from $47.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.67.

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.