Mplx (NYSE:MPLX) Share Price Breaks Above Two Hundred Day Moving Average - Here's Why

Key Points

• MPLX shares moved above their 200-day moving average, reaching $57.56 compared with the average of $57.18, though they later traded near $56.30.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $63.80; recent targets range from $64 to $66.
• MPLX reported quarterly EPS in line with estimates at $1.06, while revenue rose 10.3% year over year. The partnership also offers a $1.0765 quarterly dividend, equivalent to a 7.6% yield and a 92.47% payout ratio.

Mplx Lp (NYSE:MPLX - Get Free Report) shares crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $57.18 and traded as high as $57.56. Mplx shares last traded at $56.3040, with a volume of 1,699,014 shares traded.

Analysts Set New Price Targets

Several research firms have recently issued reports on MPLX. Weiss Ratings restated a "buy (a-)" rating on shares of Mplx in a research report on Thursday, August 13th. Stifel Nicolaus began coverage on shares of Mplx in a research report on Thursday, September 10th. They issued a "hold" rating and a $65.00 price target on the stock. Wolfe Research lowered shares of Mplx from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, July 29th. Morgan Stanley boosted their price objective on shares of Mplx from $60.00 to $66.00 and gave the company an "equal weight" rating in a report on Wednesday, August 12th. Finally, Royal Bank Of Canada upped their target price on shares of Mplx from $60.00 to $64.00 and gave the company an "outperform" rating in a research note on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $63.80.

Mplx Stock Performance

The company has a debt-to-equity ratio of 1.71, a current ratio of 0.89 and a quick ratio of 0.83. The company has a market cap of $57.08 billion, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 5.45 and a beta of 0.49. The stock has a 50-day moving average price of $58.69 and a 200 day moving average price of $57.18.

Mplx (NYSE:MPLX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $1.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.06. Mplx had a return on equity of 32.83% and a net margin of 35.75%. The business had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the firm earned $1.03 EPS. Mplx's quarterly revenue was up 10.3% compared to the same quarter last year. As a group, analysts anticipate that Mplx Lp will post 4.26 EPS for the current fiscal year.

Mplx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, August 7th were issued a $1.0765 dividend. This represents a $4.31 annualized dividend and a dividend yield of 7.6%. The ex-dividend date was Friday, August 7th. Mplx's dividend payout ratio is 92.47%.

Institutional Investors Weigh In On Mplx

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Energy Income Partners LLC bought a new position in Mplx during the 2nd quarter worth about $303,072,000. Bank of New York Mellon Corp bought a new stake in shares of Mplx in the second quarter valued at about $1,094,000. Attessa Capital LLC bought a new stake in shares of Mplx in the second quarter valued at about $1,042,000. NEOS Investment Management LLC boosted its position in shares of Mplx by 45.5% during the second quarter. NEOS Investment Management LLC now owns 486,025 shares of the pipeline company's stock worth $27,378,000 after buying an additional 152,041 shares during the period. Finally, Militia Capital Management LLC acquired a new position in shares of Mplx during the first quarter worth about $3,824,000. 24.25% of the stock is currently owned by institutional investors and hedge funds.

About Mplx

MPLX LP NYSE: MPLX is a diversified master limited partnership that owns and operates midstream energy infrastructure in the United States. The company provides transportation, storage and logistics services for crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs), primarily under long-term commercial arrangements with energy producers, refiners and other customers.

MPLX's assets include crude oil and refined-products pipelines, storage facilities, marine and inland waterway terminals, rail and truck transportation operations, and gathering and processing systems.

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