Mplx (NYSE:MPLX) Price Target Raised to $52.00 at Barclays

Mplx (NYSE:MPLX - Free Report) had its price target boosted by Barclays from $49.00 to $52.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an overweight rating on the pipeline company's stock.

Several other equities analysts have also commented on MPLX. Bank of America started coverage on Mplx in a research note on Thursday, October 17th. They set an "underperform" rating and a $43.00 price target on the stock. StockNews.com lowered shares of Mplx from a "strong-buy" rating to a "buy" rating in a report on Saturday. Truist Financial upped their target price on Mplx from $48.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, November 19th. Royal Bank of Canada boosted their price target on Mplx from $50.00 to $52.00 and gave the stock an "outperform" rating in a research report on Monday, November 18th. Finally, Wells Fargo & Company lifted their target price on Mplx from $53.00 to $54.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $49.89.

Mplx Price Performance

MPLX traded up $0.70 during trading hours on Monday, hitting $49.05. The company's stock had a trading volume of 1,158,834 shares, compared to its average volume of 1,516,557. Mplx has a 12 month low of $36.76 and a 12 month high of $51.94. 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 business's 50-day moving average price is $48.03 and its 200-day moving average price is $44.85. The stock has a market cap of $49.97 billion, a price-to-earnings ratio of 11.57, a P/E/G ratio of 2.91 and a beta of 1.43.

Mplx (NYSE:MPLX - Get Free Report) last released its quarterly earnings results 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 net margin of 36.77% and a return on equity of 32.70%. The company had revenue of $2.97 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same quarter in the previous year, the company posted $0.89 EPS. The business's quarterly revenue was up 2.1% on a year-over-year basis. Sell-side analysts expect that Mplx will post 4.18 earnings per share for the current fiscal year.

Mplx Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were paid a dividend of $0.9565 per share. This represents a $3.83 annualized dividend and a yield of 7.80%. The ex-dividend date was Friday, November 8th. This is an increase from Mplx's previous quarterly dividend of $0.85. Mplx's payout ratio is presently 90.09%.

Insider Buying and Selling at Mplx

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Captrust Financial Advisors increased its position in shares of Mplx by 0.4% during the 3rd quarter. Captrust Financial Advisors now owns 60,475 shares of the pipeline company's stock worth $2,689,000 after purchasing an additional 231 shares during the last quarter. Sheaff Brock Investment Advisors LLC grew its stake in Mplx by 1.4% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 19,701 shares of the pipeline company's stock worth $876,000 after buying an additional 268 shares during the last quarter. Cherry Creek Investment Advisors Inc. increased its holdings in shares of Mplx by 2.0% in the 3rd quarter. Cherry Creek Investment Advisors Inc. now owns 14,204 shares of the pipeline company's stock valued at $632,000 after acquiring an additional 279 shares during the period. FORA Capital LLC grew its stake in shares of Mplx by 2.2% in the 3rd quarter. FORA Capital LLC now owns 15,320 shares of the pipeline company's stock valued at $681,000 after purchasing an additional 332 shares during the last quarter. Finally, Fidelis Capital Partners LLC raised its position in Mplx by 3.9% during the 3rd quarter. Fidelis Capital Partners LLC now owns 9,032 shares of the pipeline company's stock worth $396,000 after buying an additional 338 shares during the last quarter. 24.25% of the stock is owned by institutional investors and hedge funds.

About Mplx

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Logistics and Storage (L&S) and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.