Mplx Lp (NYSE:MPLX) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Mplx Lp (NYSE:MPLX) have received an average recommendation of “Moderate Buy” from the nine brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $49.44.

Several research analysts have commented on the company. UBS Group lifted their price target on Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Truist Financial upped their target price on shares of Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Wells Fargo & Company increased their price target on shares of Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. StockNews.com downgraded Mplx from a “strong-buy” rating to a “buy” rating in a report on Friday, November 22nd. Finally, Royal Bank of Canada increased their target price on Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Monday, November 18th.

Mplx Trading Down 0.9 %

NYSE:MPLX opened at $51.17 on Tuesday. The stock’s 50-day moving average is $45.78 and its two-hundred day moving average is $43.36. Mplx has a fifty-two week low of $35.51 and a fifty-two week high of $51.94. The stock has a market cap of $52.13 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 3.02 and a beta of 1.42. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95.

Mplx (NYSE:MPLX) last announced 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 during 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 company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 EPS. As a group, equities research analysts forecast that Mplx will post 4.26 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. Stockholders of record on Friday, November 8th were issued a $0.9565 dividend. This is an increase from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 annualized dividend and a dividend yield of 7.48%. The ex-dividend date of this dividend was Friday, November 8th. Mplx’s payout ratio is presently 90.33%.

Insider Activity at Mplx

In other Mplx news, VP Carl Kristopher Hagedorn sold 4,000 shares of the firm’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 completion of the sale, the vice president now owns 14,750 shares in the company, valued at approximately $696,790. This trade represents a 21.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MPLX. CWM LLC lifted its position in Mplx by 73.3% during the 2nd quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock valued at $45,000 after purchasing an additional 451 shares during the period. Summit Securities Group LLC lifted 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 valued at $47,000 after buying an additional 900 shares during the period. Cedar Wealth Management LLC bought a new position in Mplx in the third quarter valued at approximately $51,000. Redwood Wealth Management Group LLC acquired a new stake in Mplx during the 2nd quarter worth $67,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Mplx during the 2nd quarter valued at $88,000. Institutional investors and hedge funds own 24.25% of the company’s stock.

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.