Mplx (NYSE:MPLX) Announces Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• MPLX reported quarterly EPS of $1.15, beating analysts’ $1.13 consensus estimate by $0.02. Revenue totaled $3.27 billion, below expectations of $3.35 billion.
• The company raised its quarterly dividend to $1.2111 per share, or $4.84 annualized, representing an 8.2% yield.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $63.80 versus the stock’s reported price of $58.84.

Mplx (NYSE:MPLX - Get Free Report) announced its quarterly earnings data on Tuesday. The pipeline company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02, Zacks reports. The company had revenue of $3.27 billion during the quarter, compared to analysts' expectations of $3.35 billion. Mplx had a net margin of 35.75% and a return on equity of 32.83%.

Mplx Stock Performance

NYSE:MPLX opened at $58.84 on Tuesday. The firm's fifty day simple moving average is $58.39 and its 200 day simple moving average is $57.24. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 1.71. Mplx has a twelve month low of $50.22 and a twelve month high of $60.95. The firm has a market capitalization of $59.65 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 5.63 and a beta of 0.48.

Mplx Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, November 6th will be issued a dividend of $1.2111 per share. This represents a $4.84 annualized dividend and a dividend yield of 8.2%. The ex-dividend date is Friday, November 6th. This is a positive change from Mplx's previous quarterly dividend of $1.0765. Mplx's dividend payout ratio (DPR) is presently 104.09%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Wells Fargo & Company increased their target price on Mplx from $61.00 to $63.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. Royal Bank Of Canada boosted their price target on Mplx from $60.00 to $64.00 and gave the company an "outperform" rating in a research report on Friday, August 21st. Stifel Nicolaus assumed coverage on Mplx in a research note on Thursday, September 10th. They set a "hold" rating and a $65.00 price target for the company. Weiss Ratings upgraded Mplx from a "buy (a-)" rating to a "buy (a)" rating in a report on Friday. Finally, Morgan Stanley decreased their target price on Mplx from $66.00 to $64.00 and set an "equal weight" rating for the company in a report on Tuesday, October 13th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Mplx has a consensus rating of "Moderate Buy" and a consensus target price of $63.80.

Mplx Company Profile

MPLX LP NYSE: MPLX is a master limited partnership that owns and operates midstream energy infrastructure in the United States. The company provides services for the gathering, processing, transportation, storage and marketing of crude oil, natural gas and natural gas liquids (NGLs).

MPLX's assets include crude oil and refined-products pipelines, natural gas gathering and processing systems, NGL fractionation facilities, storage terminals and marine transportation infrastructure. Through its logistics and storage operations, the company supports the movement of hydrocarbons from producing regions to refineries, export facilities and other domestic markets.

The company serves several major U.S.

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