Mplx (NYSE:MPLX) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• MPLX shares crossed above their 200-day moving average of $57.10, reaching $59.54 before closing near $59.19.
• Analysts raised several price targets, with the consensus target at $63.20 and an overall “Moderate Buy” rating, despite one firm downgrading the stock to “peer perform.”
• MPLX reported quarterly EPS of $1.06, matching estimates, while revenue rose 10.3% year over year; its quarterly dividend of $1.0765 represents an annualized yield of approximately 7.3%.

Mplx Lp (NYSE:MPLX - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $57.10 and traded as high as $59.54. Mplx shares last traded at $59.19, with a volume of 1,406,012 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently weighed in on MPLX. Morgan Stanley lifted their target price on Mplx from $60.00 to $66.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 12th. Wolfe Research cut Mplx from an "outperform" rating to a "peer perform" rating in a report on Wednesday, July 29th. Royal Bank Of Canada upped their price target on Mplx from $60.00 to $64.00 and gave the company an "outperform" rating in a report on Friday, August 21st. Weiss Ratings reiterated a "buy (a-)" rating on shares of Mplx in a research report on Thursday, August 13th. Finally, Barclays lifted their price objective on Mplx from $59.00 to $63.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $63.20.

Mplx Trading Down 0.1%

The company has a market cap of $60.01 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 5.61 and a beta of 0.48. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.83 and a current ratio of 0.89. The business's 50 day moving average price is $58.01 and its 200-day moving average price is $57.10.

Mplx (NYSE:MPLX - Get Free Report) last issued its earnings results on Tuesday, August 4th. The pipeline company reported $1.06 earnings per share for the quarter, meeting the consensus estimate of $1.06. The business had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.14 billion. Mplx had a net margin of 35.75% and a return on equity of 32.83%. The firm's revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 EPS. On average, research analysts forecast that Mplx Lp will post 4.28 EPS for the current year.

Mplx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, August 7th were paid a dividend of $1.0765 per share. The ex-dividend date was Friday, August 7th. This represents a $4.31 dividend on an annualized basis and a yield of 7.3%. Mplx's dividend payout ratio (DPR) is currently 92.69%.

Institutional Investors Weigh In On Mplx

Several large investors have recently modified their holdings of the stock. Trust Co. of Vermont acquired a new position in shares of Mplx in the 2nd quarter worth approximately $28,000. Assetmark Inc. lifted its position in shares of Mplx by 81.5% during the 1st quarter. Assetmark Inc. now owns 559 shares of the pipeline company's stock worth $32,000 after buying an additional 251 shares during the period. Wiser Advisor Group LLC acquired a new stake in Mplx in the 3rd quarter valued at $38,000. Prosperity Bancshares Inc acquired a new stake in Mplx in the 4th quarter valued at $43,000. Finally, Axiom Investment Management LLC bought a new stake in Mplx in the first quarter valued at $46,000. 24.25% of the stock is currently owned by institutional investors.

About Mplx

MPLX LP NYSE: MPLX is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership's asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.

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