Mplx (NYSE:MPLX - Free Report) had its target price hoisted by Barclays from $49.00 to $52.00 in a report issued on Monday morning,Benzinga reports. Barclays currently has an overweight rating on the pipeline company's stock.
A number of other research analysts have also issued reports on the stock. UBS Group upped their target price on shares of Mplx from $51.00 to $55.00 and gave the company a "buy" rating in a report on Friday, November 15th. StockNews.com lowered shares of Mplx from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Royal Bank of Canada boosted their price target on Mplx from $50.00 to $52.00 and gave the company an "outperform" rating in a report on Monday, November 18th. Truist Financial raised their price objective on Mplx from $48.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, November 19th. Finally, Wells Fargo & Company increased their target price on Mplx from $53.00 to $54.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $49.89.
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Mplx Price Performance
Shares of NYSE:MPLX traded up $0.42 on Monday, reaching $48.77. 1,723,197 shares of the company were exchanged, compared to its average volume of 1,610,557. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. Mplx has a 1-year low of $36.76 and a 1-year high of $51.94. The company has a 50-day moving average of $48.12 and a 200-day moving average of $44.90. The firm has a market cap of $49.69 billion, a price-to-earnings ratio of 11.50, a price-to-earnings-growth ratio of 2.91 and a beta of 1.43.
Mplx (NYSE:MPLX - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analyst estimates of $3.09 billion. During the same quarter in the previous year, the business posted $0.89 earnings per share. Mplx's revenue was up 2.1% on a year-over-year basis. Equities analysts forecast that Mplx will post 4.18 earnings per share for the current fiscal year.
Mplx Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a $0.9565 dividend. The ex-dividend date was 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 7.84%. Mplx's dividend payout ratio is 90.09%.
Insider Buying and Selling
In other Mplx news, VP Carl Kristopher Hagedorn sold 4,000 shares of the firm's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $47.24, for a total transaction of $188,960.00. Following the transaction, the vice president now owns 14,750 shares of the company's stock, valued at approximately $696,790. This trade represents a 21.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in MPLX. Marcum Wealth LLC purchased a new stake in shares of Mplx during the fourth quarter valued at $205,000. Brookstone Capital Management grew its position in Mplx by 14.1% during the 4th quarter. Brookstone Capital Management now owns 23,161 shares of the pipeline company's stock worth $1,108,000 after purchasing an additional 2,867 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Mplx during the 4th quarter valued at $354,000. Fortem Financial Group LLC lifted its holdings in shares of Mplx by 14.2% in the fourth quarter. Fortem Financial Group LLC now owns 28,101 shares of the pipeline company's stock valued at $1,345,000 after purchasing an additional 3,501 shares in the last quarter. Finally, CWA Asset Management Group LLC grew its holdings in shares of Mplx by 1.8% during the fourth quarter. CWA Asset Management Group LLC now owns 21,120 shares of the pipeline company's stock valued at $1,011,000 after buying an additional 380 shares in the last quarter. 24.25% of the stock is currently owned by institutional investors.
About Mplx
(
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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.
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