Mplx Lp (NYSE:MPLX – Get Rating) – Investment analysts at US Capital Advisors increased their FY2023 EPS estimates for shares of Mplx in a report released on Friday, May 19th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will post earnings of $3.60 per share for the year, up from their prior estimate of $3.52. The consensus estimate for Mplx’s current full-year earnings is $3.56 per share. US Capital Advisors also issued estimates for Mplx’s Q1 2024 earnings at $0.90 EPS, Q3 2024 earnings at $0.93 EPS, Q4 2024 earnings at $0.92 EPS, FY2024 earnings at $3.67 EPS and FY2025 earnings at $3.82 EPS.
Other analysts have also issued research reports about the stock. Barclays lifted their price objective on shares of Mplx from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, April 5th. JPMorgan Chase & Co. upgraded shares of Mplx from a “neutral” rating to an “overweight” rating and increased their target price for the company from $37.00 to $41.00 in a report on Tuesday, March 14th. Raymond James lowered their target price on shares of Mplx from $41.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, April 21st. Morgan Stanley increased their target price on shares of Mplx from $41.00 to $42.00 in a report on Tuesday, April 25th. Finally, Stifel Nicolaus increased their target price on shares of Mplx from $38.00 to $40.00 in a report on Wednesday, May 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $38.60.
Mplx Stock Performance
Mplx (NYSE:MPLX – Get Rating) last announced its quarterly earnings results on Tuesday, May 2nd. The pipeline company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.60 billion. Mplx had a net margin of 34.67% and a return on equity of 30.74%. Mplx’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.78 EPS.
Hedge Funds Weigh In On Mplx
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Newman Dignan & Sheerar Inc. boosted its position in Mplx by 3.8% during the fourth quarter. Newman Dignan & Sheerar Inc. now owns 8,300 shares of the pipeline company’s stock worth $273,000 after purchasing an additional 300 shares during the period. Wesbanco Bank Inc. lifted its holdings in shares of Mplx by 4.5% in the first quarter. Wesbanco Bank Inc. now owns 6,912 shares of the pipeline company’s stock worth $238,000 after buying an additional 300 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its holdings in shares of Mplx by 3.7% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 8,534 shares of the pipeline company’s stock worth $280,000 after buying an additional 303 shares in the last quarter. Prospera Financial Services Inc lifted its holdings in shares of Mplx by 1.2% in the first quarter. Prospera Financial Services Inc now owns 26,220 shares of the pipeline company’s stock worth $903,000 after buying an additional 308 shares in the last quarter. Finally, First Republic Investment Management Inc. lifted its holdings in shares of Mplx by 0.4% in the fourth quarter. First Republic Investment Management Inc. now owns 80,866 shares of the pipeline company’s stock worth $2,656,000 after buying an additional 336 shares in the last quarter. Institutional investors own 23.62% of the company’s stock.
Mplx Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Friday, May 5th were given a dividend of $0.775 per share. The ex-dividend date of this dividend was Thursday, May 4th. This represents a $3.10 dividend on an annualized basis and a yield of 9.05%. Mplx’s dividend payout ratio is presently 79.90%.
Mplx Company Profile
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.
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