Mplx (NYSE:MPLX) Trading 0.1% Higher

Mplx Lp (NYSE:MPLX - Get Free Report) shares were up 0.1% during trading on Thursday . The stock traded as high as $40.58 and last traded at $40.43. Approximately 635,973 shares were traded during trading, a decline of 71% from the average daily volume of 2,177,582 shares. The stock had previously closed at $40.40.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MPLX. UBS Group upped their price objective on Mplx from $46.00 to $49.00 and gave the stock a "buy" rating in a report on Friday, April 12th. Stifel Nicolaus increased their price objective on shares of Mplx from $45.00 to $47.00 and gave the company a "buy" rating in a research report on Wednesday, May 1st. Raymond James boosted their target price on shares of Mplx from $44.00 to $45.00 and gave the stock an "outperform" rating in a report on Wednesday, January 31st. Truist Financial increased their price target on shares of Mplx from $43.00 to $48.00 and gave the company a "buy" rating in a report on Thursday, May 2nd. Finally, Royal Bank of Canada raised their price target on Mplx from $45.00 to $46.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 31st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $45.11.

Mplx Price Performance

The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $41.05 billion, a price-to-earnings ratio of 10.42 and a beta of 1.35. The company has a 50-day moving average of $41.10 and a 200-day moving average of $38.49.

Mplx (NYSE:MPLX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The pipeline company reported $0.98 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.01). Mplx had a return on equity of 31.70% and a net margin of 34.96%. The company had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the previous year, the firm posted $0.91 earnings per share. The company's quarterly revenue was up 4.9% on a year-over-year basis. On average, equities analysts predict that Mplx Lp will post 3.99 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 13th. Shareholders of record on Friday, May 3rd were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 8.42%. The ex-dividend date of this dividend was Thursday, May 2nd. Mplx's payout ratio is 87.63%.

Institutional Trading of Mplx

A number of hedge funds have recently modified their holdings of the stock. Alps Advisors Inc. lifted its holdings in Mplx by 18.9% in the third quarter. Alps Advisors Inc. now owns 28,771,793 shares of the pipeline company's stock valued at $1,023,413,000 after acquiring an additional 4,579,152 shares during the period. Invesco Ltd. lifted its stake in shares of Mplx by 4.0% in the 3rd quarter. Invesco Ltd. now owns 20,917,505 shares of the pipeline company's stock valued at $744,036,000 after purchasing an additional 809,273 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Mplx by 2.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,463,737 shares of the pipeline company's stock valued at $237,348,000 after buying an additional 154,529 shares in the last quarter. UBS Group AG raised its position in shares of Mplx by 12.2% in the third quarter. UBS Group AG now owns 5,869,436 shares of the pipeline company's stock worth $208,776,000 after acquiring an additional 639,199 shares during the period. Finally, Barclays PLC boosted its stake in shares of Mplx by 440.5% during the 3rd quarter. Barclays PLC now owns 5,649,301 shares of the pipeline company's stock worth $200,946,000 after acquiring an additional 4,604,066 shares in the last quarter. Hedge funds and other institutional investors own 24.25% of the company's stock.

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.

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