Mplx Lp (NYSE:MPLX) Receives $47.67 Average Target Price from Analysts

Mplx Lp (NYSE:MPLX - Get Free Report) has been given an average recommendation of "Moderate Buy" by the nine ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and eight have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $47.67.

A number of research analysts have commented on MPLX shares. Wells Fargo & Company increased their target price on Mplx from $47.00 to $50.00 and gave the stock an "overweight" rating in a report on Wednesday, August 7th. UBS Group increased their price objective on Mplx from $49.00 to $51.00 and gave the stock a "buy" rating in a report on Wednesday, September 18th. Royal Bank of Canada increased their target price on Mplx from $47.00 to $50.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. StockNews.com upgraded Mplx from a "buy" rating to a "strong-buy" rating in a report on Thursday, October 10th. Finally, Bank of America started coverage on Mplx in a research report on Thursday, October 17th. They set an "underperform" rating and a $43.00 price target on the stock.

Mplx Stock Performance

Shares of MPLX stock traded down $0.22 during trading hours on Friday, reaching $44.20. The company had a trading volume of 1,292,096 shares, compared to its average volume of 1,814,060. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.95 and a current ratio of 0.99. Mplx has a one year low of $35.06 and a one year high of $45.24. The firm has a market cap of $45.11 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 1.21 and a beta of 1.37. The business has a fifty day moving average price of $43.80 and a 200-day moving average price of $42.34.

Mplx (NYSE:MPLX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 32.68% and a net margin of 35.95%. Mplx's revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 earnings per share. Sell-side analysts predict that Mplx will post 4.3 earnings per share for the current fiscal year.

Mplx Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be paid a $0.9565 dividend. The ex-dividend date is Friday, November 8th. This represents a $3.83 annualized dividend and a dividend yield of 8.66%. This is a positive change from Mplx's previous quarterly dividend of $0.85. Mplx's payout ratio is currently 82.52%.

Hedge Funds Weigh In On Mplx

A number of institutional investors and hedge funds have recently made changes to their positions in MPLX. Quent Capital LLC purchased a new position in Mplx during the first quarter worth approximately $35,000. Crewe Advisors LLC purchased a new position in shares of Mplx in the first quarter valued at $41,000. CWM LLC raised its holdings in shares of Mplx by 73.3% during the second quarter. CWM LLC now owns 1,066 shares of the pipeline company's stock worth $45,000 after purchasing an additional 451 shares during the period. Summit Securities Group LLC boosted its position in shares of Mplx by 450.0% during the 2nd quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company's stock valued at $47,000 after purchasing an additional 900 shares in the last quarter. Finally, Redwood Wealth Management Group LLC purchased a new stake in shares of Mplx in the second quarter worth approximately $67,000. Institutional investors own 24.25% of the company's stock.

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.