Mplx Lp (NYSE:MPLX) Announces Quarterly Dividend of $1.08

Key Points

• Mplx Lp declared a quarterly dividend of $1.0765 per share (annualized ≈ $4.306), with record and ex-dividend dates on May 8 and payment on May 15, implying a 7.8% yield.
• The partnership has raised its dividend for nine consecutive years but growth has been small (≈0.1% annual avg. over three years); its current payout ratio is about 88.7% and is forecast to rise to ~92.9% based on analysts' expected $4.63 EPS next year, so coverage could be tight if earnings fall.
• MPLX recently beat quarterly EPS estimates ($1.17 vs. $1.10) and reported $5.99B revenue, with a market cap near $55.9B and a P/E of 11.41, leaving the stock trading around the mid-$50s.

Mplx Lp (NYSE:MPLX - Get Free Report) announced a quarterly dividend on Tuesday, April 28th. Stockholders of record on Friday, May 8th will be paid a dividend of 1.0765 per share by the pipeline company on Friday, May 15th. This represents a c) dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date of this dividend is Friday, May 8th.

Mplx has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 9 years. Mplx has a dividend payout ratio of 88.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Research analysts expect Mplx to earn $4.63 per share next year, which means the company should continue to be able to cover its $4.30 annual dividend with an expected future payout ratio of 92.9%.

Mplx Trading Up 0.7%

Shares of MPLX stock opened at $55.02 on Wednesday. Mplx has a 1 year low of $47.80 and a 1 year high of $59.98. The firm has a fifty day moving average price of $57.24 and a 200-day moving average price of $54.86. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.23 and a quick ratio of 1.18. The company has a market cap of $55.85 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 5.06 and a beta of 0.56.

Mplx (NYSE:MPLX - Get Free Report) last issued its quarterly earnings data on Tuesday, February 3rd. The pipeline company reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.07. Mplx had a net margin of 37.79% and a return on equity of 34.37%. The firm had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter in the previous year, the firm posted $1.07 EPS. The company's revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, equities analysts predict that Mplx will post 4.37 earnings per share for the current year.

Hedge Funds Weigh In On Mplx

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Belfer Management LLC lifted its stake in shares of Mplx by 2.4% in the 4th quarter. Belfer Management LLC now owns 7,849 shares of the pipeline company's stock valued at $419,000 after purchasing an additional 181 shares during the last quarter. Trueblood Wealth Management LLC lifted its holdings in shares of Mplx by 1.9% in the 4th quarter. Trueblood Wealth Management LLC now owns 9,736 shares of the pipeline company's stock worth $520,000 after acquiring an additional 186 shares during the last quarter. Wealthstar Advisors LLC lifted its holdings in shares of Mplx by 1.5% in the 4th quarter. Wealthstar Advisors LLC now owns 12,598 shares of the pipeline company's stock worth $672,000 after acquiring an additional 190 shares during the last quarter. Cobblestone Capital Advisors LLC NY lifted its holdings in shares of Mplx by 4.0% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 5,198 shares of the pipeline company's stock worth $260,000 after acquiring an additional 198 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC lifted its holdings in shares of Mplx by 3.5% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 6,069 shares of the pipeline company's stock worth $303,000 after acquiring an additional 206 shares during the last quarter. 24.25% of the stock is owned by hedge funds and other institutional investors.

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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