Brokerages Set Mplx Lp (NYSE:MPLX) PT at $49.44

Shares of Mplx Lp (NYSE:MPLX) have received a consensus rating of “Moderate Buy” from the nine ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and eight have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $49.44.

Several equities research analysts have recently weighed in on MPLX shares. StockNews.com downgraded Mplx from a “strong-buy” rating to a “buy” rating in a report on Friday, November 22nd. Wells Fargo & Company increased their target price on Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. UBS Group boosted their target price on shares of Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Royal Bank of Canada upped their price target on shares of Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Finally, Bank of America started coverage on shares of Mplx in a report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price objective for the company.

Mplx Trading Up 1.8 %

MPLX stock opened at $50.53 on Tuesday. Mplx has a twelve month low of $35.51 and a twelve month high of $50.73. The stock has a market capitalization of $51.48 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 2.87 and a beta of 1.37. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40. The firm’s fifty day simple moving average is $45.50 and its two-hundred day simple moving average is $43.18.

Mplx (NYSE:MPLX) last issued its quarterly 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 for 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 business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.89 earnings per share. As a group, analysts anticipate that Mplx will post 4.26 earnings per share for the current 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 issued a $0.9565 dividend. The ex-dividend date was Friday, November 8th. This represents a $3.83 annualized dividend and a dividend yield of 7.57%. This is a positive change from Mplx’s previous quarterly dividend of $0.85. Mplx’s payout ratio is currently 90.33%.

Insider Transactions at Mplx

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $47.24, for a total transaction of $188,960.00. Following the completion of the sale, the vice president now directly owns 14,750 shares in the company, valued at $696,790. This represents a 21.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Hedge Funds Weigh In On Mplx

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC boosted its holdings in shares of Mplx by 73.3% in the 2nd quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock valued at $45,000 after buying an additional 451 shares in the last quarter. Summit Securities Group LLC grew its holdings in Mplx by 450.0% in the second quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company’s stock worth $47,000 after purchasing an additional 900 shares during the last quarter. Cedar Wealth Management LLC purchased a new position in Mplx in the third quarter worth $51,000. Redwood Wealth Management Group LLC acquired a new position in shares of Mplx during the second quarter worth $67,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Mplx during the 2nd quarter valued at $88,000. Hedge funds and other institutional investors own 24.25% of the company’s stock.

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.