US Capital Advisors Research Analysts Lift Earnings Estimates for Mplx Lp (NYSE:MPLX)

Mplx Lp (NYSE:MPLX - Free Report) - Stock analysts at US Capital Advisors boosted their Q2 2024 EPS estimates for shares of Mplx in a note issued to investors on Monday, April 29th. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will post earnings per share of $0.98 for the quarter, up from their prior estimate of $0.97. The consensus estimate for Mplx's current full-year earnings is $4.08 per share. US Capital Advisors also issued estimates for Mplx's Q3 2024 earnings at $1.03 EPS.

A number of other equities analysts have also commented on MPLX. Truist Financial lifted their price target on shares of Mplx from $43.00 to $48.00 and gave the company a "buy" rating in a research report on Thursday. Barclays lifted their target price on shares of Mplx from $40.00 to $43.00 and gave the stock an "overweight" rating in a report on Friday, April 5th. UBS Group raised their price target on Mplx from $46.00 to $49.00 and gave the company a "buy" rating in a research report on Friday, April 12th. Raymond James boosted their price objective on Mplx from $44.00 to $45.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 31st. Finally, Stifel Nicolaus increased their target price on Mplx from $45.00 to $47.00 and gave the company a "buy" rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $45.00.

Mplx Stock Performance

Shares of MPLX stock traded down $0.50 during trading on Thursday, reaching $41.09. The company had a trading volume of 1,377,051 shares, compared to its average volume of 2,200,529. The company has a market capitalization of $41.53 billion, a PE ratio of 10.59 and a beta of 1.35. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.07 and a quick ratio of 1.01. The firm's 50 day simple moving average is $40.77 and its two-hundred day simple moving average is $38.15. Mplx has a one year low of $33.12 and a one year high of $42.90.

Mplx (NYSE:MPLX - Get Free Report) last posted its earnings results on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.01). The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.89 billion. Mplx had a net margin of 34.96% and a return on equity of 32.13%. Mplx's quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $0.91 earnings per share.

Institutional Trading of Mplx

A number of hedge funds have recently modified their holdings of the company. JFS Wealth Advisors LLC bought a new stake in Mplx in the third quarter valued at about $33,000. PSI Advisors LLC raised its position in shares of Mplx by 63.6% during the fourth quarter. PSI Advisors LLC now owns 900 shares of the pipeline company's stock worth $33,000 after acquiring an additional 350 shares during the last quarter. Quent Capital LLC bought a new stake in shares of Mplx during the 1st quarter valued at $35,000. HBC Financial Services PLLC bought a new position in Mplx during the fourth quarter worth about $36,000. Finally, Fortitude Family Office LLC acquired a new stake in Mplx in the fourth quarter worth $41,000. Institutional investors own 24.25% of the company's stock.

Mplx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Friday, May 3rd will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, May 2nd. This represents a $3.40 annualized dividend and a yield of 8.27%. Mplx's dividend payout ratio is 87.63%.

Mplx Company Profile

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.