MPLX (NYSE:MPLX) Announces Quarterly Earnings Results

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) posted its earnings results on Tuesday. The pipeline company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.05), Zacks reports. MPLX had a return on equity of 30.95% and a net margin of 35.44%. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the previous year, the company posted $1.15 EPS. The firm's revenue for the quarter was down 1.6% compared to the same quarter last year.

MPLX Trading Down 2.2%

MPLX stock traded down $1.11 during trading hours on Friday, reaching $50.41. 1,843,556 shares of the company's stock traded hands, compared to its average volume of 1,309,280. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.04 and a current ratio of 1.03. MPLX has a fifty-two week low of $39.95 and a fifty-two week high of $54.87. The firm has a market capitalization of $51.46 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 1.32 and a beta of 0.73. The firm's 50 day moving average is $51.22 and its 200-day moving average is $51.60.

MPLX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 8th will be given a dividend of $0.9565 per share. The ex-dividend date is Friday, August 8th. This represents a $3.83 dividend on an annualized basis and a yield of 7.6%. MPLX's dividend payout ratio is presently 90.97%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in MPLX stock. NewEdge Advisors LLC raised 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 13F filing with the Securities and Exchange Commission. The firm owned 24,049 shares of the pipeline company's stock after purchasing an additional 939 shares during the period. NewEdge Advisors LLC's holdings in MPLX were worth $1,287,000 as of its most recent filing with the Securities and Exchange Commission. 24.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Barclays upped their target price on shares of MPLX from $52.00 to $53.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Wall Street Zen lowered shares of MPLX from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. One investment 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 MarketBeat.com, the company presently 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.