Mplx Lp (NYSE:MPLX - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $45.69 and last traded at $45.49, with a volume of 133583 shares traded. The stock had previously closed at $44.32.
Analysts Set New Price Targets
MPLX has been the topic of several recent research reports. Wells Fargo & Company raised their target price on shares of Mplx from $47.00 to $50.00 and gave the stock an "overweight" rating in a report on Wednesday, August 7th. UBS Group raised their target price on shares of Mplx from $49.00 to $51.00 and gave the stock a "buy" rating in a report on Wednesday, September 18th. Bank of America began coverage on shares of Mplx in a research note on Thursday, October 17th. They issued an "underperform" rating and a $43.00 price objective on the stock. Barclays lifted their price objective on shares of Mplx from $45.00 to $49.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada lifted their price objective on shares of Mplx from $47.00 to $50.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $47.67.
Check Out Our Latest Stock Report on MPLX
Mplx Stock Up 2.3 %
The firm's fifty day moving average price is $43.92 and its two-hundred day moving average price is $42.46. The stock has a market cap of $46.27 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 1.21 and a beta of 1.37. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.99 and a quick ratio of 0.95.
Mplx (NYSE:MPLX - Get Free Report) last posted its earnings results on Tuesday, August 6th. The pipeline company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.98 by $0.17. The company had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $2.96 billion. Mplx had a net margin of 35.95% and a return on equity of 32.68%. The firm's revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 earnings per share. Sell-side analysts forecast that Mplx Lp will post 4.3 earnings per share for the current fiscal year.
Mplx Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be given a dividend of $0.9565 per share. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from Mplx's previous quarterly dividend of $0.85. This represents a $3.83 annualized dividend and a dividend yield of 8.44%. Mplx's payout ratio is presently 82.52%.
Institutional Investors Weigh In On Mplx
Institutional investors have recently added to or reduced their stakes in the company. Crewe Advisors LLC bought a new position in shares of Mplx during the 1st quarter valued at approximately $41,000. CWM LLC lifted its stake in Mplx by 73.3% in the 2nd quarter. CWM LLC now owns 1,066 shares of the pipeline company's stock worth $45,000 after purchasing an additional 451 shares in the last quarter. Summit Securities Group LLC increased its holdings in shares of Mplx by 450.0% in the 2nd quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company's stock worth $47,000 after buying an additional 900 shares during the last quarter. Redwood Wealth Management Group LLC bought a new position in shares of Mplx in the 2nd quarter worth $67,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Mplx in the 2nd quarter worth $88,000. 24.25% of the stock is owned by institutional investors.
Mplx Company Profile
(
Get Free Report)
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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