Mplx Lp (NYSE:MPLX) Receives $49.44 Average Target Price from Brokerages

Shares of Mplx Lp (NYSE:MPLX) have earned a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $49.44.

Several analysts have issued reports on MPLX shares. Bank of America initiated coverage on Mplx in a research note on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price objective on the stock. UBS Group increased their price target on Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Truist Financial lifted their price objective on shares of Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Wells Fargo & Company increased their price objective on shares of Mplx from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada lifted their target price on shares of Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Monday, November 18th.

Insider Buying and Selling

In other Mplx news, VP Carl Kristopher Hagedorn sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $47.24, for a total transaction of $188,960.00. Following the completion of the sale, the vice president now directly owns 14,750 shares of the company’s stock, valued at approximately $696,790. The trade was a 21.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Institutional Investors Weigh In On Mplx

Several large investors have recently made changes to their positions in the business. Tidal Investments LLC lifted its position in shares of Mplx by 23.2% during the third quarter. Tidal Investments LLC now owns 14,764 shares of the pipeline company’s stock worth $656,000 after acquiring an additional 2,785 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in Mplx by 9.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 21,530 shares of the pipeline company’s stock worth $957,000 after purchasing an additional 1,832 shares in the last quarter. Rehmann Capital Advisory Group boosted its stake in Mplx by 2.1% in the 3rd quarter. Rehmann Capital Advisory Group now owns 24,201 shares of the pipeline company’s stock worth $1,076,000 after purchasing an additional 500 shares during the period. Geode Capital Management LLC grew its holdings in Mplx by 5.3% during the 3rd quarter. Geode Capital Management LLC now owns 15,488 shares of the pipeline company’s stock valued at $689,000 after buying an additional 785 shares in the last quarter. Finally, M&T Bank Corp bought a new stake in shares of Mplx during the third quarter valued at about $2,023,000. 24.25% of the stock is owned by hedge funds and other institutional investors.

Mplx Price Performance

Shares of MPLX opened at $51.66 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. The company’s fifty day simple moving average is $45.65 and its 200 day simple moving average is $43.27. Mplx has a 1-year low of $35.51 and a 1-year high of $51.94. The company has a market cap of $52.63 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 2.95 and a beta of 1.37.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.04). Mplx had a return on equity of 32.70% and a net margin of 36.77%. The firm 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 firm earned $0.89 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, research analysts forecast that Mplx will post 4.26 earnings per share for the current fiscal year.

Mplx Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were paid a $0.9565 dividend. This is a positive change from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.41%. The ex-dividend date was Friday, November 8th. Mplx’s payout ratio is currently 90.09%.

Mplx Company Profile

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.