Mplx (NYSE:MPLX) Given New $73.00 Price Target at UBS Group

Mplx (NYSE:MPLX) had its target price lifted by UBS Group from $64.00 to $73.00 in a research report released on Monday morning,Benzinga reports. They currently have a buy rating on the pipeline company’s stock.

A number of other research analysts have also recently weighed in on the company. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Mplx in a research report on Monday, December 29th. JPMorgan Chase & Co. increased their target price on shares of Mplx from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, March 10th. Barclays raised their target price on shares of Mplx from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. Royal Bank Of Canada upped their price target on shares of Mplx from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, November 21st. Finally, Morgan Stanley increased their price objective on shares of Mplx from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $60.88.

Mplx Price Performance

Shares of Mplx stock opened at $58.10 on Monday. The stock has a market cap of $58.98 billion, a P/E ratio of 12.05, a P/E/G ratio of 5.32 and a beta of 0.56. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.18 and a current ratio of 1.23. The stock’s fifty day moving average is $56.51 and its 200 day moving average is $53.49. Mplx has a one year low of $44.60 and a one year high of $59.84.

Mplx (NYSE:MPLX) last released its quarterly earnings results on Tuesday, February 3rd. The pipeline company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.07. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.23 billion. Mplx had a return on equity of 34.37% and a net margin of 37.79%.Mplx’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.07 earnings per share. Sell-side analysts anticipate that Mplx will post 4.41 earnings per share for the current year.

Mplx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 9th were given a dividend of $1.0765 per share. The ex-dividend date was Monday, February 9th. This represents a $4.31 annualized dividend and a dividend yield of 7.4%. Mplx’s dividend payout ratio (DPR) is currently 89.42%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Solstein Capital LLC purchased a new stake in Mplx during the 3rd quarter valued at approximately $25,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Mplx during the second quarter valued at approximately $26,000. FSC Wealth Advisors LLC purchased a new position in shares of Mplx in the second quarter worth $29,000. Operose Advisors LLC lifted its holdings in shares of Mplx by 216.2% in the second quarter. Operose Advisors LLC now owns 585 shares of the pipeline company’s stock worth $30,000 after buying an additional 400 shares in the last quarter. Finally, EQ Wealth Advisors LLC bought a new position in shares of Mplx during the fourth quarter worth $32,000. 24.25% of the stock is owned by hedge funds and other institutional investors.

Mplx Company Profile

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.