Mplx (NYSE:MPLX – Free Report) had its price target increased by UBS Group from $51.00 to $55.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the pipeline company’s stock.
A number of other equities research analysts have also recently issued reports on MPLX. Bank of America initiated coverage on Mplx in a report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price objective for the company. StockNews.com raised Mplx from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 14th. Wells Fargo & Company increased their price objective on Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Barclays boosted their target price on shares of Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, Royal Bank of Canada raised their price target on shares of Mplx from $47.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Mplx has a consensus rating of “Moderate Buy” and a consensus price target of $48.67.
Check Out Our Latest Stock Analysis on Mplx
Mplx Trading Up 0.9 %
Mplx (NYSE:MPLX – Get Free Report) last posted its earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). Mplx had a return on equity of 32.70% and a net margin of 36.77%. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the prior year, the business posted $0.89 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. Research analysts forecast that Mplx will post 4.31 EPS for the current year.
Mplx Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a dividend of $0.9565 per share. This represents a $3.83 dividend on an annualized basis and a dividend yield of 8.06%. The ex-dividend date was Friday, November 8th. This is an increase from Mplx’s previous quarterly dividend of $0.85. Mplx’s dividend payout ratio is 90.33%.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new stake in shares of Mplx in the 1st quarter valued at $41,000. CWM LLC boosted its stake in Mplx by 73.3% in the second quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock valued at $45,000 after buying an additional 451 shares in the last quarter. Summit Securities Group LLC grew its position in Mplx by 450.0% in the second quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company’s stock valued at $47,000 after acquiring an additional 900 shares during the last quarter. Cedar Wealth Management LLC acquired a new position in Mplx during the third quarter worth about $51,000. Finally, Redwood Wealth Management Group LLC bought a new position in shares of Mplx in the second quarter worth about $67,000. 24.25% of the stock is owned by institutional investors.
About Mplx
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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