Mplx (NYSE:MPLX) Releases Earnings Results, Misses Expectations By $0.05 EPS

Key Points

• Mplx reported earnings of $1.03 EPS, which was $0.05 below analysts' expectations of $1.08 EPS, with a revenue of $2.79 billion compared to the forecasted $3.13 billion.
• The company announced a quarterly dividend of $0.9565 per share, representing an annualized dividend yield of 7.5%.
• Mplx’s stock price decreased 3.5% to $50.85 following the earnings report, amidst ongoing trading activity and recent analyst rating adjustments.

Mplx (NYSE:MPLX - Get Free Report) released its quarterly earnings data on Tuesday. The pipeline company reported $1.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.08 by ($0.05), Zacks reports. Mplx had a net margin of 36.34% and a return on equity of 32.08%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the firm posted $1.15 earnings per share. The business's revenue for the quarter was down 1.6% on a year-over-year basis.

Mplx Trading Down 3.5%

NYSE:MPLX traded down $1.86 during mid-day trading on Tuesday, hitting $50.85. The company had a trading volume of 1,482,167 shares, compared to its average volume of 1,615,392. Mplx has a fifty-two week low of $39.95 and a fifty-two week high of $54.87. The business's fifty day moving average is $51.22 and its two-hundred day moving average is $51.62. 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 firm has a market cap of $51.91 billion, a P/E ratio of 11.73, a P/E/G ratio of 1.35 and a beta of 0.73.

Mplx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 8th will be paid a $0.9565 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $3.83 annualized dividend and a yield of 7.5%. Mplx's dividend payout ratio is presently 88.22%.

Hedge Funds Weigh In On Mplx

An institutional investor recently raised its position in Mplx stock. NewEdge Advisors LLC lifted its holdings in shares of Mplx Lp (NYSE:MPLX - Free Report) by 4.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,049 shares of the pipeline company's stock after purchasing an additional 939 shares during the quarter. NewEdge Advisors LLC's holdings in Mplx were worth $1,287,000 at the end of the most recent quarter. Institutional investors own 24.25% of the company's stock.

Analyst Upgrades and Downgrades

MPLX has been the topic of several research reports. Wall Street Zen lowered Mplx from a "buy" rating to a "hold" rating in a research note on Saturday. Barclays upped their price target on Mplx from $52.00 to $53.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Mplx has an average rating of "Moderate Buy" and an average price target of $55.63.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.