Analysts Set Mplx Lp (NYSE:MPLX) Price Target at $55.63

Key Points

• Mplx Lp has received an average rating of "Moderate Buy" from eight brokerage firms, with six analysts rating it a buy, one a hold, and one a sell.
• The current twelve-month price objective for Mplx is $55.63, while Barclays recently raised its target price to $53.00, maintaining an "overweight" rating.
• Mplx announced a quarterly dividend of $0.9565, translating to an annualized dividend of $3.83 and a yield of 7.4%, with a payout ratio of 88.45%.

Mplx Lp (NYSE:MPLX - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eight analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $55.6250.

MPLX has been the topic of a number of recent research reports. Wall Street Zen downgraded Mplx from a "buy" rating to a "hold" rating in a research report on Saturday. Barclays increased their price target on Mplx from $52.00 to $53.00 and gave the stock an "overweight" rating in a report on Friday, July 11th.

Mplx Trading Up 1.7%

MPLX stock traded up $0.89 during midday trading on Friday, reaching $52.74. 1,716,400 shares of the company traded hands, compared to its average volume of 1,616,751. Mplx has a 52-week low of $39.95 and a 52-week high of $54.87. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.04 and a current ratio of 1.08. The business has a 50 day moving average of $51.18 and a 200-day moving average of $51.61. The firm has a market capitalization of $53.84 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 1.35 and a beta of 0.73.

Mplx (NYSE:MPLX - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.03. Mplx had a return on equity of 32.08% and a net margin of 36.34%. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the prior year, the business posted $0.98 earnings per share. The company's quarterly revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts expect that Mplx will post 4.41 earnings per share for the current fiscal year.

Mplx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 8th will be given a $0.9565 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.3%. Mplx's dividend payout ratio (DPR) is presently 88.45%.

Institutional Trading of Mplx

Institutional investors have recently made changes to their positions in the business. Private Wealth Asset Management LLC purchased a new position in Mplx in the 2nd quarter worth $26,000. EQ Wealth Advisors LLC purchased a new position in Mplx in the 2nd quarter worth $31,000. Blue Trust Inc. raised its stake in Mplx by 509.0% in the 2nd quarter. Blue Trust Inc. now owns 609 shares of the pipeline company's stock worth $31,000 after acquiring an additional 509 shares during the last quarter. Rossby Financial LCC purchased a new position in Mplx in the 1st quarter worth $33,000. Finally, JFS Wealth Advisors LLC purchased a new position in Mplx in the 1st quarter worth $37,000. Institutional investors and hedge funds own 24.25% of the company's stock.

Mplx Company Profile

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Crude Oil and Products Logistics and Natural Gas and NGL Services segments. The Crude Oil and Products Logistics segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.