FY2024 EPS Estimates for Mplx Raised by US Capital Advisors

Mplx Lp (NYSE:MPLX) – US Capital Advisors lifted their FY2024 earnings estimates for Mplx in a report issued on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will earn $4.17 per share for the year, up from their previous estimate of $4.16. The consensus estimate for Mplx’s current full-year earnings is $4.26 per share.

Mplx (NYSE:MPLX) last released its 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). The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.09 billion. Mplx had a return on equity of 32.70% and a net margin of 36.77%. Mplx’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.89 earnings per share.

MPLX has been the topic of a number of other research reports. Barclays increased their price target on Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Royal Bank of Canada raised their target price on shares of Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, November 18th. StockNews.com cut shares of Mplx from a “strong-buy” rating to a “buy” rating in a report on Friday, November 22nd. Bank of America assumed coverage on shares of Mplx in a report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price objective on the stock. Finally, UBS Group boosted their target price on shares of Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $49.44.

Mplx Stock Up 1.8 %

Shares of NYSE MPLX opened at $50.52 on Thursday. The stock has a market cap of $51.47 billion, a P/E ratio of 11.92, a PEG ratio of 2.87 and a beta of 1.37. The business’s fifty day simple moving average is $45.37 and its 200-day simple moving average is $43.12. Mplx has a 12-month low of $35.51 and a 12-month high of $50.73. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40.

Institutional Trading of Mplx

Large investors have recently bought and sold shares of the business. Catalyst Capital Advisors LLC raised its holdings in shares of Mplx by 7.4% in the third quarter. Catalyst Capital Advisors LLC now owns 280,885 shares of the pipeline company’s stock valued at $12,488,000 after buying an additional 19,320 shares during the last quarter. ING Groep NV raised its stake in Mplx by 69.8% during the 3rd quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock valued at $294,699,000 after acquiring an additional 2,725,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Mplx by 22.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 81,884 shares of the pipeline company’s stock worth $3,487,000 after acquiring an additional 14,782 shares during the period. Lindbrook Capital LLC grew its stake in shares of Mplx by 27.2% in the 3rd quarter. Lindbrook Capital LLC now owns 52,128 shares of the pipeline company’s stock valued at $2,318,000 after purchasing an additional 11,144 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Mplx by 40.5% in the second quarter. Envestnet Asset Management Inc. now owns 361,257 shares of the pipeline company’s stock valued at $15,386,000 after purchasing an additional 104,218 shares during the period. Institutional investors and hedge funds own 24.25% of the company’s stock.

Insiders Place Their Bets

In other news, VP Carl Kristopher Hagedorn sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $47.24, for a total transaction of $188,960.00. Following the transaction, the vice president now directly owns 14,750 shares in the company, valued at approximately $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 accessible through this link.

Mplx Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were paid a $0.9565 dividend. This represents a $3.83 annualized dividend and a yield of 7.57%. The ex-dividend date of this dividend was Friday, November 8th. This is an increase from Mplx’s previous quarterly dividend of $0.85. Mplx’s dividend payout ratio is currently 90.33%.

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.