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

Key Points

• MPLX has a “Moderate Buy” consensus rating from 14 brokerages, with seven buy ratings, six holds and one strong buy; the average 12-month price target is $62.80.
• MPLX’s latest quarterly earnings matched expectations at $1.06 per share, while revenue rose 10.3% year over year to $3.13 billion.
• The company declared a quarterly dividend of $1.0765 per share, equivalent to an annualized $4.31 payout and a 7.2% yield; shares recently traded at $59.64.

Mplx Lp (NYSE:MPLX - Get Free Report) has earned a consensus rating of "Moderate Buy" from the fourteen brokerages that are currently covering the company, Marketbeat reports. Six analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $62.80.

A number of analysts have commented on MPLX shares. Royal Bank Of Canada restated an "outperform" rating and set a $60.00 price target on shares of Mplx in a research note on Thursday, July 2nd. Zacks Research raised shares of Mplx from a "strong sell" rating to a "hold" rating in a research note on Friday, June 5th. Morgan Stanley lifted their price objective on shares of Mplx from $60.00 to $66.00 and gave the company an "equal weight" rating in a report on Wednesday. The Goldman Sachs Group boosted their target price on shares of Mplx from $55.00 to $63.00 and gave the stock a "buy" rating in a research report on Monday, April 20th. Finally, Barclays upped their target price on shares of Mplx from $59.00 to $63.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Compass Financial Management LLC purchased a new position in shares of Mplx during the second quarter valued at approximately $577,000. Knuff & Co LLC purchased a new stake in Mplx in the 2nd quarter valued at $310,000. Energy Income Partners LLC bought a new position in Mplx during the 2nd quarter valued at $303,072,000. Trust Co. of Vermont bought a new position in Mplx during the 2nd quarter valued at $28,000. Finally, Bank of New York Mellon Corp purchased a new position in Mplx during the 2nd quarter worth $1,094,000. Institutional investors own 24.25% of the company's stock.

Mplx Trading Up 0.6%

Shares of Mplx stock opened at $59.64 on Thursday. 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 52 week low of $47.80 and a 52 week high of $60.95. The stock has a 50 day moving average price of $57.34 and a two-hundred day moving average price of $56.79. The stock has a market capitalization of $60.52 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 5.62 and a beta of 0.48.

Mplx (NYSE:MPLX - Get Free Report) last issued its earnings results on Tuesday, August 4th. The pipeline company reported $1.06 earnings per share for the quarter, hitting analysts' consensus estimates of $1.06. Mplx had a return on equity of 32.83% and a net margin of 35.75%.The company had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the prior year, the firm earned $1.03 earnings per share. Mplx's revenue for the quarter was up 10.3% on a year-over-year basis. As a group, equities analysts anticipate that Mplx will post 4.27 earnings per share for the current fiscal year.

Mplx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, August 7th will be issued a dividend of $1.0765 per share. This represents a $4.31 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date of this dividend is Friday, August 7th. Mplx's payout ratio is currently 92.47%.

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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