Mplx FY2024 EPS Estimate Raised by US Capital Advisors

Mplx Lp (NYSE:MPLX - Free Report) - Research analysts at US Capital Advisors upped their FY2024 earnings estimates for Mplx in a report issued on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now expects that the pipeline company will post earnings of $4.17 per share for the year, up from their previous forecast of $4.16. The consensus estimate for Mplx's current full-year earnings is $4.26 per share.

Mplx (NYSE:MPLX - Get Free Report) last released its 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 return on equity of 32.70% and a net margin of 36.77%. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the business posted $0.89 earnings per share. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year.

MPLX has been the subject of several other reports. Barclays lifted their price objective on Mplx from $45.00 to $49.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. UBS Group lifted their price objective on Mplx from $51.00 to $55.00 and gave the company a "buy" rating in a report on Friday, November 15th. Bank of America started coverage on shares of Mplx in a report on Thursday, October 17th. They issued an "underperform" rating and a $43.00 target price for the company. StockNews.com downgraded shares of Mplx from a "strong-buy" rating to a "buy" rating in a report on Friday, November 22nd. Finally, Royal Bank of Canada boosted 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. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $49.44.

Mplx Trading Up 1.8 %

Shares of NYSE:MPLX traded up $0.88 on Thursday, hitting $50.53. 1,451,321 shares of the company's stock were exchanged, compared to its average volume of 1,854,211. Mplx has a 12 month low of $35.51 and a 12 month high of $50.73. The stock has a market capitalization of $51.48 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 2.87 and a beta of 1.37. The business's 50 day simple moving average is $45.37 and its two-hundred day simple moving average is $43.12. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95.

Institutional Investors Weigh In On Mplx

A number of large investors have recently bought and sold shares of MPLX. CWM LLC boosted its position 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 during the last quarter. Summit Securities Group LLC lifted its holdings 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 period. Cedar Wealth Management LLC acquired a new position in Mplx in the third quarter valued at approximately $51,000. Redwood Wealth Management Group LLC acquired a new position in Mplx in the second quarter valued at approximately $67,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Mplx in the second quarter valued at approximately $88,000. Hedge funds and other institutional investors own 24.25% of the company's stock.

Insider Transactions at Mplx

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the company'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 value of $188,960.00. Following the sale, the vice president now owns 14,750 shares in the company, valued at $696,790. This represents a 21.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Mplx Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a dividend of $0.9565 per share. This is a positive change from Mplx's previous quarterly dividend of $0.85. The ex-dividend date was Friday, November 8th. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.57%. Mplx's payout ratio is presently 90.33%.

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.