Mplx (NYSE:MPLX) Hits New 52-Week High at $38.13

Shares of Mplx Lp (NYSE:MPLXGet Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $38.13 and last traded at $38.02, with a volume of 259110 shares. The stock had previously closed at $37.90.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Mplx in a report on Thursday, October 5th. They issued a “buy” rating and a $40.00 price target for the company. StockNews.com began coverage on Mplx in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Mplx presently has an average rating of “Moderate Buy” and an average target price of $40.29.

Check Out Our Latest Analysis on MPLX

Mplx Stock Performance

The company has a market capitalization of $38.55 billion, a price-to-earnings ratio of 11.03 and a beta of 1.37. The stock’s 50 day moving average price is $36.64 and its 200 day moving average price is $35.75. The company has a current ratio of 1.96, a quick ratio of 1.85 and a debt-to-equity ratio of 1.65.

Mplx (NYSE:MPLXGet Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The pipeline company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.15. Mplx had a return on equity of 29.72% and a net margin of 32.89%. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter in the prior year, the business posted $0.78 EPS. The business’s revenue was up 11.4% compared to the same quarter last year. Analysts expect that Mplx Lp will post 3.64 earnings per share for the current year.

Mplx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Monday, February 5th will be paid a $0.85 dividend. The ex-dividend date is Friday, February 2nd. This represents a $3.40 annualized dividend and a yield of 8.83%. Mplx’s dividend payout ratio (DPR) is currently 97.42%.

Hedge Funds Weigh In On Mplx

A number of institutional investors have recently bought and sold shares of the business. Fairfield Bush & CO. bought a new position in shares of Mplx during the 1st quarter worth approximately $126,000. Cambridge Investment Research Advisors Inc. boosted its position in Mplx by 15.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 27,907 shares of the pipeline company’s stock worth $926,000 after purchasing an additional 3,691 shares during the period. Private Advisor Group LLC increased its holdings in shares of Mplx by 49.5% in the first quarter. Private Advisor Group LLC now owns 12,826 shares of the pipeline company’s stock valued at $426,000 after purchasing an additional 4,247 shares during the last quarter. Raymond James Trust N.A. bought a new position in shares of Mplx in the first quarter valued at about $205,000. Finally, Cetera Investment Advisers boosted its holdings in shares of Mplx by 14.8% during the 1st quarter. Cetera Investment Advisers now owns 9,688 shares of the pipeline company’s stock worth $321,000 after buying an additional 1,248 shares during the period. Institutional investors and hedge funds own 22.43% of the company’s stock.

About Mplx

(Get Free Report)

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, exchange, 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 sale of residue gas and condensate.

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