Mplx Lp (NYSE:MPLX) Receives $49.56 Consensus PT from Analysts

Shares of Mplx Lp (NYSE:MPLX) have been given an average rating of “Moderate Buy” by the nine research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $49.56.

Several research firms have recently commented on MPLX. Bank of America initiated coverage on shares of Mplx in a report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price target on the stock. Wells Fargo & Company boosted their target price on Mplx from $53.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. UBS Group raised their price target on Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Barclays boosted their price target on Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Truist Financial raised their price objective on shares of Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th.

Insider Buying and Selling

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the 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 sale, the vice president now directly owns 14,750 shares in the company, valued at $696,790. This trade represents a 21.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Hedge Funds Weigh In On Mplx

Several institutional investors and hedge funds have recently modified their holdings of the business. ING Groep NV raised its position in Mplx by 69.8% in the 3rd quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock valued at $294,699,000 after buying an additional 2,725,000 shares during the last quarter. Strategic Financial Concepts LLC lifted its position in Mplx by 4,274.2% during the 2nd quarter. Strategic Financial Concepts LLC now owns 811,371 shares of the pipeline company’s stock worth $346,000 after buying an additional 792,822 shares in the last quarter. FMR LLC boosted its stake in shares of Mplx by 387.4% during the 3rd quarter. FMR LLC now owns 823,467 shares of the pipeline company’s stock worth $36,611,000 after buying an additional 654,500 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its holdings in shares of Mplx by 2.4% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 14,825,905 shares of the pipeline company’s stock valued at $631,435,000 after acquiring an additional 353,324 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its position in shares of Mplx by 17.0% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,498,796 shares of the pipeline company’s stock valued at $66,636,000 after acquiring an additional 217,674 shares during the last quarter. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Mplx Stock Down 0.3 %

NYSE:MPLX opened at $47.48 on Friday. Mplx has a 1-year low of $36.40 and a 1-year high of $51.94. The firm has a market capitalization of $48.37 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 2.91 and a beta of 1.42. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. The business’s fifty day moving average price is $47.21 and its 200 day moving average price is $44.33.

Mplx (NYSE:MPLX) last posted its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). Mplx had a return on equity of 32.70% and a net margin of 36.77%. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same period last year, the company earned $0.89 earnings per share. Mplx’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, sell-side analysts forecast that Mplx will post 4.18 earnings per share for the current fiscal year.

Mplx Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a dividend of $0.9565 per share. The ex-dividend date was Friday, November 8th. This is an increase from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 dividend on an annualized basis and a yield of 8.06%. Mplx’s dividend payout ratio is presently 90.09%.

Mplx Company Profile

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.