Mplx (NYSE:MPLX) Issues Earnings Results, Misses Expectations By $0.01 EPS

Mplx (NYSE:MPLX - Get Free Report) announced its quarterly earnings results on Tuesday. The pipeline company reported $0.98 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.99 by ($0.01), Briefing.com reports. Mplx had a net margin of 34.82% and a return on equity of 31.85%. The company had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $2.89 billion. During the same quarter in the prior year, the business posted $0.91 earnings per share. The company's revenue was up 4.9% compared to the same quarter last year.

Mplx Price Performance

NYSE:MPLX traded down $0.19 during trading hours on Wednesday, hitting $41.61. 2,659,280 shares of the stock were exchanged, compared to its average volume of 2,210,153. Mplx has a 52-week low of $33.12 and a 52-week high of $42.90. The firm's fifty day moving average price is $40.74 and its 200 day moving average price is $38.13. The company has a current ratio of 1.07, a quick ratio of 1.01 and a debt-to-equity ratio of 1.52. The company has a market cap of $42.06 billion, a P/E ratio of 10.92 and a beta of 1.35.

Mplx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Shareholders 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 8.17%. Mplx's dividend payout ratio (DPR) is currently 89.24%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MPLX shares. StockNews.com downgraded Mplx from a "strong-buy" rating to a "buy" rating in a research note on Wednesday. Barclays boosted their target price on Mplx from $40.00 to $43.00 and gave the stock an "overweight" rating in a research note on Friday, April 5th. UBS Group boosted their target price on Mplx from $46.00 to $49.00 and gave the stock a "buy" rating in a research note on Friday, April 12th. Raymond James lifted their price target on Mplx from $44.00 to $45.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 31st. Finally, Royal Bank of Canada boosted their price objective on Mplx from $45.00 to $46.00 and gave the company an "outperform" rating in a report on Wednesday, January 31st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Mplx currently has a consensus rating of "Moderate Buy" and an average target price of $44.57.

About Mplx

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.