Mplx (NYSE:MPLX) Stock Price Up 0.9%

Mplx Lp (NYSE:MPLXGet Free Report)’s share price shot up 0.9% during trading on Friday . The stock traded as high as $41.12 and last traded at $41.12. 226,397 shares traded hands during trading, a decline of 90% from the average session volume of 2,162,784 shares. The stock had previously closed at $40.76.

Analyst Upgrades and Downgrades

Several research firms recently commented on MPLX. JPMorgan Chase & Co. raised their target price on Mplx from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Barclays raised their target price on Mplx from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Truist Financial raised their target price on Mplx from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Stifel Nicolaus raised their target price on Mplx from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, UBS Group increased their price target on Mplx from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $45.11.

Check Out Our Latest Stock Report on Mplx

Mplx Stock Performance

The stock has a market cap of $41.72 billion, a PE ratio of 10.58, a P/E/G ratio of 2.04 and a beta of 1.35. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 1.44. The stock has a 50-day moving average of $41.04 and a 200 day moving average of $39.06.

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

Mplx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 13th. Shareholders of record on Friday, May 3rd were paid a dividend of $0.85 per share. The ex-dividend date was Thursday, May 2nd. This represents a $3.40 annualized dividend and a yield of 8.28%. Mplx’s dividend payout ratio (DPR) is 87.63%.

Institutional Investors Weigh In On Mplx

A number of institutional investors have recently modified their holdings of the company. Granite Group Advisors LLC grew its stake in shares of Mplx by 3.6% in the first quarter. Granite Group Advisors LLC now owns 12,329 shares of the pipeline company’s stock valued at $512,000 after buying an additional 424 shares in the last quarter. Pathway Financial Advisers LLC acquired a new stake in shares of Mplx in the first quarter valued at $885,000. Cetera Advisors LLC boosted its holdings in Mplx by 152.0% in the first quarter. Cetera Advisors LLC now owns 34,462 shares of the pipeline company’s stock valued at $1,432,000 after purchasing an additional 20,788 shares during the period. Cetera Investment Advisers boosted its holdings in Mplx by 486.2% in the first quarter. Cetera Investment Advisers now owns 133,685 shares of the pipeline company’s stock valued at $5,556,000 after purchasing an additional 110,880 shares during the period. Finally, Virtu Financial LLC purchased a new position in Mplx in the first quarter valued at $1,396,000. 24.25% of the stock is owned by institutional investors and hedge funds.

About Mplx

(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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