Mplx Lp (NYSE:MPLX) Stock Has Consensus Target Price of $63.80

Key Points

• Analyst sentiment is moderately positive: Fourteen brokerages rate MPLX “Moderate Buy,” with six buys, one strong buy and seven holds. The consensus 12-month price target is $63.80, compared with a recent share price of $56.28.
• MPLX reported solid quarterly results: Earnings per share came in at $1.06, matching estimates, while revenue rose 10.3% year over year to $3.13 billion.
• The company offers a high dividend yield: MPLX declared a quarterly dividend of $1.0765, equivalent to $4.31 annually and a 7.7% yield, though its payout ratio is elevated at 92.69%.

Shares of Mplx Lp (NYSE:MPLX - Get Free Report) have been given a consensus rating of "Moderate Buy" by the fourteen brokerages that are covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $63.80.

MPLX has been the subject of a number of research analyst reports. Wolfe Research cut shares of Mplx from an "outperform" rating to a "peer perform" rating in a report on Wednesday, July 29th. Royal Bank Of Canada upped their price target on Mplx from $60.00 to $64.00 and gave the stock an "outperform" rating in a report on Friday, August 21st. Stifel Nicolaus started coverage on Mplx in a research note on Thursday, September 10th. They issued a "hold" rating and a $65.00 price objective for the company. Zacks Research upgraded Mplx from a "strong sell" rating to a "hold" rating in a research report on Friday, June 5th. Finally, Morgan Stanley upped their target price on Mplx from $60.00 to $66.00 and gave the company an "equal weight" rating in a report on Wednesday, August 12th.

Institutional Investors Weigh In On Mplx

Large investors have recently added to or reduced their stakes in the business. Trust Co. of Vermont acquired a new position in Mplx during the second quarter worth about $28,000. Assetmark Inc. grew its position in shares of Mplx by 81.5% in the first quarter. Assetmark Inc. now owns 559 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 251 shares during the last quarter. Axiom Investment Management LLC purchased a new position in shares of Mplx during the 1st quarter worth approximately $46,000. 1 North Wealth Services LLC purchased a new position in shares of Mplx during the 4th quarter worth approximately $56,000. Finally, Western Wealth Management LLC acquired a new position in shares of Mplx during the 1st quarter worth approximately $65,000. 24.25% of the stock is owned by institutional investors and hedge funds.

Mplx Price Performance

Shares of NYSE MPLX opened at $56.28 on Friday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.83 and a current ratio of 0.89. Mplx has a one year low of $47.80 and a one year high of $60.95. The firm has a market capitalization of $57.06 billion, a P/E ratio of 12.10, a PEG ratio of 5.36 and a beta of 0.50. The company's fifty day moving average is $58.85 and its two-hundred day moving average is $57.21.

Mplx (NYSE:MPLX - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter last year, the firm posted $1.03 EPS. The business's revenue was up 10.3% compared to the same quarter last year. Analysts forecast that Mplx will post 4.26 EPS for the current fiscal 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 7.7%. Mplx's payout ratio is currently 92.69%.

Mplx Company Profile

MPLX LP NYSE: MPLX is a diversified master limited partnership that owns and operates midstream energy infrastructure in the United States. The company provides transportation, storage and logistics services for crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs), primarily under long-term commercial arrangements with energy producers, refiners and other customers.

MPLX's assets include crude oil and refined-products pipelines, storage facilities, marine and inland waterway terminals, rail and truck transportation operations, and gathering and processing systems.

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