Mplx (NYSE:MPLX) Posts Earnings Results, Beats Estimates By $0.03 EPS

Mplx (NYSE:MPLX) released its quarterly earnings results on Tuesday. The pipeline company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03, Zacks reports. Mplx had a net margin of 36.77% and a return on equity of 32.70%.

Mplx Stock Down 1.2 %

Shares of MPLX stock opened at $51.38 on Tuesday. The stock has a market cap of $52.35 billion, a P/E ratio of 12.12, a PEG ratio of 2.33 and a beta of 1.42. Mplx has a 52 week low of $37.04 and a 52 week high of $53.55. 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 company’s fifty day simple moving average is $49.39 and its two-hundred day simple moving average is $45.79.

Mplx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be paid a $0.9565 dividend. This represents a $3.83 annualized dividend and a yield of 7.45%. The ex-dividend date of this dividend is Monday, February 3rd. Mplx’s payout ratio is currently 90.33%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MPLX shares. Bank of America initiated coverage on shares of Mplx in a research report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price target for the company. UBS Group upped their target price on shares of Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Wells Fargo & Company upped their target price on shares of Mplx from $53.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Truist Financial upped their target price on shares of Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Royal Bank of Canada upped their target price on shares of Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Mplx currently has an average rating of “Moderate Buy” and an average price target of $50.50.

Insider Activity

In other Mplx news, VP Carl Kristopher Hagedorn sold 4,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $696,790. This represents a 21.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

About Mplx

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Logistics and Storage (L&S) and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.