Mplx (NYSE:MPLX) PT Raised to $46.00

Mplx (NYSE:MPLX) had its target price boosted by JPMorgan Chase & Co. from $45.00 to $46.00 in a research report sent to investors on Friday, Benzinga reports. The firm currently has an overweight rating on the pipeline company’s stock.

MPLX has been the subject of a number of other reports. Truist Financial raised their target price on shares of Mplx from $43.00 to $48.00 and gave the stock a buy rating in a report on Thursday, May 2nd. Royal Bank of Canada raised their price objective on Mplx from $45.00 to $46.00 and gave the stock an outperform rating in a research note on Wednesday, January 31st. Stifel Nicolaus boosted their target price on Mplx from $45.00 to $47.00 and gave the stock a buy rating in a research report on Wednesday, May 1st. StockNews.com lowered Mplx from a strong-buy rating to a buy rating in a research report on Wednesday, May 1st. Finally, Raymond James boosted their price objective on Mplx from $44.00 to $45.00 and gave the stock an outperform rating in a report on Wednesday, January 31st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Mplx has a consensus rating of Moderate Buy and an average target price of $45.11.

Mplx Stock Up 0.4 %

Shares of MPLX stock opened at $41.27 on Friday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.67 and a current ratio of 0.72. The stock has a market cap of $41.71 billion, a PE ratio of 10.64 and a beta of 1.35. The business’s fifty day moving average is $40.84 and its 200-day moving average is $38.25. Mplx has a 1 year low of $33.12 and a 1 year high of $42.90.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.98 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.01). Mplx had a return on equity of 31.70% and a net margin of 34.96%. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter last year, the firm posted $0.91 earnings per share. Mplx’s revenue was up 4.9% compared to the same quarter last year. Equities analysts expect that Mplx will post 4.06 earnings per share for the current fiscal year.

Mplx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Friday, May 3rd will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 8.24%. The ex-dividend date of this dividend is Thursday, May 2nd. Mplx’s payout ratio is presently 87.63%.

Institutional Investors Weigh In On Mplx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MPLX. JFS Wealth Advisors LLC acquired a new position in shares of Mplx in the third quarter worth $33,000. PSI Advisors LLC grew its stake in shares of Mplx by 63.6% in the 4th quarter. PSI Advisors LLC now owns 900 shares of the pipeline company’s stock valued at $33,000 after buying an additional 350 shares in the last quarter. Quent Capital LLC acquired a new position in Mplx in the first quarter worth approximately $35,000. HBC Financial Services PLLC bought a new position in Mplx during the fourth quarter valued at approximately $36,000. Finally, Fortitude Family Office LLC acquired a new stake in Mplx in the fourth quarter valued at approximately $41,000. 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.