Mplx (NYSE:MPLX) Now Covered by Analysts at Truist Financial

Truist Financial initiated coverage on shares of Mplx (NYSE:MPLX) in a report published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $67.00 target price on the pipeline company’s stock.

Several other research firms have also recently weighed in on MPLX. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Mplx in a report on Monday, December 29th. UBS Group upped their price objective on shares of Mplx from $64.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. JPMorgan Chase & Co. raised their target price on shares of Mplx from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, March 10th. Citigroup lifted their target price on shares of Mplx from $54.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Finally, Wall Street Zen raised shares of Mplx from a “hold” rating to a “buy” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $61.56.

Mplx Stock Up 0.9%

MPLX opened at $59.19 on Tuesday. The firm has a market capitalization of $60.08 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 5.35 and a beta of 0.56. Mplx has a one year low of $44.60 and a one year high of $59.98. The company has a fifty day moving average price of $57.12 and a 200-day moving average price of $53.80. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.23 and a quick ratio of 1.18.

Mplx (NYSE:MPLX) last issued its quarterly earnings data on Tuesday, February 3rd. The pipeline company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.07. Mplx had a return on equity of 34.37% and a net margin of 37.79%.The company had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter last year, the business posted $1.07 earnings per share. The firm’s revenue was up 6.2% compared to the same quarter last year. Equities research analysts expect that Mplx will post 4.41 earnings per share for the current fiscal year.

Mplx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th were paid a dividend of $1.0765 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $4.31 annualized dividend and a yield of 7.3%. Mplx’s payout ratio is 89.42%.

Hedge Funds Weigh In On Mplx

Several institutional investors have recently modified their holdings of the company. Elevation Point Wealth Partners LLC bought a new stake in Mplx in the 2nd quarter worth approximately $26,000. Solstein Capital LLC bought a new position in Mplx during the third quarter valued at approximately $25,000. FSC Wealth Advisors LLC bought a new position in Mplx during the second quarter valued at approximately $29,000. Operose Advisors LLC raised its stake in shares of Mplx by 216.2% during the second quarter. Operose Advisors LLC now owns 585 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 400 shares in the last quarter. Finally, EQ Wealth Advisors LLC bought a new stake in shares of Mplx in the 4th quarter worth approximately $32,000. 24.25% of the stock is currently owned by institutional investors.

About Mplx

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.