Mplx (NYSE:MPLX) Trading 0.5% Higher

Mplx Lp (NYSE:MPLXGet Free Report)’s stock price shot up 0.5% on Friday . The stock traded as high as $40.48 and last traded at $40.40. 179,755 shares changed hands during trading, a decline of 92% from the average session volume of 2,143,230 shares. The stock had previously closed at $40.21.

Analyst Upgrades and Downgrades

Several research firms have commented on MPLX. Barclays lifted their price objective on shares of Mplx from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. UBS Group upped their price target on shares of Mplx from $46.00 to $49.00 and gave the company a “buy” rating in a report on Friday, April 12th. JPMorgan Chase & Co. increased their price objective on shares of Mplx from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Truist Financial boosted their target price on Mplx from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, Stifel Nicolaus increased their price target on Mplx from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $45.11.

Read Our Latest Analysis on MPLX

Mplx Stock Up 1.2 %

The business has a fifty day moving average of $41.08 and a 200-day moving average of $38.89. The stock has a market cap of $41.34 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 2.01 and a beta of 1.35. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.72 and a quick ratio of 0.67.

Mplx (NYSE:MPLXGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.89 billion. Mplx had a return on equity of 31.70% and a net margin of 34.96%. Mplx’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 EPS. Equities research analysts anticipate that Mplx Lp will post 4.01 earnings per share for the current year.

Mplx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 13th. Stockholders of record on Friday, May 3rd were issued a $0.85 dividend. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $3.40 annualized dividend and a dividend yield of 8.36%. Mplx’s dividend payout ratio is currently 87.63%.

Hedge Funds Weigh In On Mplx

A number of hedge funds and other institutional investors have recently modified their holdings of MPLX. Alps Advisors Inc. lifted its holdings in Mplx by 18.9% during the third quarter. Alps Advisors Inc. now owns 28,771,793 shares of the pipeline company’s stock worth $1,023,413,000 after buying an additional 4,579,152 shares during the period. Invesco Ltd. boosted its position in Mplx by 4.0% during the third quarter. Invesco Ltd. now owns 20,917,505 shares of the pipeline company’s stock valued at $744,036,000 after purchasing an additional 809,273 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Mplx by 2.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,463,737 shares of the pipeline company’s stock valued at $237,348,000 after purchasing an additional 154,529 shares during the last quarter. UBS Group AG raised its holdings in Mplx by 12.2% in the third quarter. UBS Group AG now owns 5,869,436 shares of the pipeline company’s stock worth $208,776,000 after purchasing an additional 639,199 shares in the last quarter. Finally, Energy Income Partners LLC lifted its position in shares of Mplx by 5.1% during the first quarter. Energy Income Partners LLC now owns 5,224,918 shares of the pipeline company’s stock valued at $217,148,000 after buying an additional 255,211 shares during the last quarter. 24.25% of the stock is currently owned by institutional investors.

Mplx Company Profile

(Get Free Report)

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.

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