Mplx Lp (NYSE:MPLX) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on MPLX, with seven buy ratings, six holds and one strong-buy rating. The average 12-month price target is $63.20, modestly above the reported $59.68 share price.
• MPLX matched quarterly earnings expectations at $1.06 per share, while revenue increased 10.3% year over year to $3.13 billion. Analysts expect full-year EPS of approximately $4.28.
• The company’s quarterly dividend equates to $4.31 annually and a 7.2% yield, though its payout ratio is high at 92.69%; institutional investors own 24.25% of the partnership.

Shares of Mplx Lp (NYSE:MPLX - Get Free Report) have earned an average rating of "Moderate Buy" from the fourteen analysts that are presently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $63.20.

A number of equities analysts have recently weighed in on the stock. Zacks Research raised shares of Mplx from a "strong sell" rating to a "hold" rating in a research report on Friday, June 5th. Barclays raised their price objective on Mplx from $59.00 to $63.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Weiss Ratings reiterated a "buy (a-)" rating on shares of Mplx in a report on Thursday, August 13th. Royal Bank Of Canada boosted their target price on Mplx from $60.00 to $64.00 and gave the company an "outperform" rating in a research note on Friday, August 21st. Finally, Morgan Stanley increased their price target on Mplx from $60.00 to $66.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 12th.

Mplx Stock Performance

Shares of MPLX stock opened at $59.68 on Monday. The stock has a market cap of $60.51 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 5.65 and a beta of 0.48. The stock has a 50-day moving average of $58.22 and a 200-day moving average of $57.19. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.89 and a quick ratio of 0.83. Mplx has a one year low of $47.80 and a one year high of $60.95.

Mplx (NYSE:MPLX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $1.06 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.06. Mplx had a net margin of 35.75% and a return on equity of 32.83%. The firm had revenue of $3.13 billion during the quarter, compared to analysts' expectations of $3.14 billion. During the same quarter in the previous year, the company earned $1.03 earnings per share. The business's revenue for the quarter was up 10.3% on a year-over-year basis. As a group, sell-side analysts expect that Mplx will post 4.28 earnings per share for the current year.

Mplx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, August 7th were given a $1.0765 dividend. The ex-dividend date was Friday, August 7th. This represents a $4.31 annualized dividend and a dividend yield of 7.2%. Mplx's payout ratio is currently 92.69%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC raised its holdings in shares of Mplx by 4.1% during the first quarter. NewEdge Advisors LLC now owns 24,049 shares of the pipeline company's stock worth $1,287,000 after acquiring an additional 939 shares during the period. Geode Capital Management LLC boosted its stake in Mplx by 6.6% in the 2nd quarter. Geode Capital Management LLC now owns 16,557 shares of the pipeline company's stock worth $853,000 after purchasing an additional 1,021 shares during the period. Guggenheim Capital LLC increased its holdings in Mplx by 5.4% during the 2nd quarter. Guggenheim Capital LLC now owns 19,139 shares of the pipeline company's stock worth $986,000 after purchasing an additional 972 shares in the last quarter. Cerity Partners LLC raised its stake in shares of Mplx by 12.5% in the 2nd quarter. Cerity Partners LLC now owns 53,113 shares of the pipeline company's stock valued at $2,736,000 after purchasing an additional 5,916 shares during the period. Finally, Glenview Trust co raised its stake in shares of Mplx by 62.5% in the 2nd quarter. Glenview Trust co now owns 6,500 shares of the pipeline company's stock valued at $335,000 after purchasing an additional 2,500 shares during the period. Institutional investors own 24.25% of the company's stock.

About Mplx

MPLX LP NYSE: MPLX is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership's asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.

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