Mplx (NYSE:MPLX) Price Target Cut to $66.00 by Analysts at Truist Financial

Mplx (NYSE:MPLX) had its price target decreased by Truist Financial from $67.00 to $66.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the pipeline company’s stock.

MPLX has been the topic of a number of other reports. Wall Street Zen raised shares of Mplx from a “hold” rating to a “buy” rating in a research note on Monday, March 23rd. JPMorgan Chase & Co. lifted their price objective 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 price objective on shares of Mplx from $54.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Raymond James Financial cut shares of Mplx from an “outperform” rating to a “market perform” rating in a research note on Monday, January 5th. Finally, Stifel Nicolaus lifted their price objective on shares of Mplx from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.44.

Mplx Stock Down 0.9%

Shares of MPLX opened at $55.18 on Tuesday. Mplx has a 12 month low of $45.45 and a 12 month high of $59.98. The firm’s 50 day moving average is $57.36 and its 200-day moving average is $54.24. The stock has a market capitalization of $56.02 billion, a PE ratio of 11.45, a P/E/G ratio of 5.12 and a beta of 0.56. The company has a current ratio of 1.23, a quick ratio of 1.18 and a debt-to-equity ratio of 1.66.

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

Mplx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th were given a $1.0765 dividend. The ex-dividend date was Monday, February 9th. This represents a $4.31 dividend on an annualized basis and a yield of 7.8%. Mplx’s dividend payout ratio (DPR) is currently 89.42%.

Institutional Trading of Mplx

A number of hedge funds have recently added to or reduced their stakes in the stock. Belfer Management LLC boosted its position in Mplx by 2.4% in the fourth quarter. Belfer Management LLC now owns 7,849 shares of the pipeline company’s stock valued at $419,000 after buying an additional 181 shares in the last quarter. Trueblood Wealth Management LLC boosted its position in Mplx by 1.9% in the fourth quarter. Trueblood Wealth Management LLC now owns 9,736 shares of the pipeline company’s stock valued at $520,000 after buying an additional 186 shares in the last quarter. Wealthstar Advisors LLC boosted its position in Mplx by 1.5% in the fourth quarter. Wealthstar Advisors LLC now owns 12,598 shares of the pipeline company’s stock valued at $672,000 after buying an additional 190 shares in the last quarter. Cobblestone Capital Advisors LLC NY boosted its position in Mplx by 4.0% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 5,198 shares of the pipeline company’s stock valued at $260,000 after buying an additional 198 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC boosted its position in Mplx by 3.5% in the third quarter. Gladstone Institutional Advisory LLC now owns 6,069 shares of the pipeline company’s stock valued at $303,000 after buying an additional 206 shares in the last quarter. Institutional investors and hedge funds own 24.25% of the company’s stock.

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.