Mplx (NYSE:MPLX) Lowered to Buy at StockNews.com

StockNews.com cut shares of Mplx (NYSE:MPLXFree Report) from a strong-buy rating to a buy rating in a research note released on Monday.

Other equities analysts also recently issued reports about the company. Stifel Nicolaus upped their price target on Mplx from $45.00 to $47.00 and gave the stock a buy rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. upped their price target on Mplx from $45.00 to $46.00 and gave the stock an overweight rating in a research report on Friday, May 3rd. UBS Group upped their price target on Mplx from $46.00 to $49.00 and gave the stock a buy rating in a research report on Friday, April 12th. Barclays upped their target price on Mplx from $40.00 to $43.00 and gave the company an overweight rating in a research report on Friday, April 5th. Finally, Truist Financial upped their target price on Mplx from $43.00 to $48.00 and gave the company a buy rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $45.11.

View Our Latest Stock Analysis on Mplx

Mplx Stock Performance

Shares of NYSE:MPLX opened at $42.40 on Monday. The company has a market capitalization of $43.09 billion, a price-to-earnings ratio of 10.93, a price-to-earnings-growth ratio of 2.12 and a beta of 1.35. Mplx has a 52 week low of $33.57 and a 52 week high of $42.90. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 1.44. The firm has a 50 day moving average of $41.02 and a 200 day moving average of $39.52.

Mplx (NYSE:MPLXGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.89 billion. Mplx had a return on equity of 31.70% and a net margin of 34.96%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 earnings per share. On average, sell-side analysts predict that Mplx will post 4.01 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 13th. Shareholders of record on Friday, May 3rd were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 8.02%. The ex-dividend date was Thursday, May 2nd. Mplx’s payout ratio is 87.63%.

Institutional Investors Weigh In On Mplx

Several hedge funds have recently added to or reduced their stakes in the business. Alps Advisors Inc. boosted its stake in shares of Mplx by 18.9% during the 3rd quarter. Alps Advisors Inc. now owns 28,771,793 shares of the pipeline company’s stock worth $1,023,413,000 after acquiring an additional 4,579,152 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of Mplx during the 4th quarter worth about $67,253,000. Citigroup Inc. raised its position in shares of Mplx by 60.6% during the 3rd quarter. Citigroup Inc. now owns 2,028,514 shares of the pipeline company’s stock worth $72,154,000 after purchasing an additional 765,618 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Mplx by 53.9% during the 1st quarter. BNP Paribas Financial Markets now owns 1,826,484 shares of the pipeline company’s stock worth $75,909,000 after purchasing an additional 639,851 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in shares of Mplx by 23.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,028,327 shares of the pipeline company’s stock worth $111,200,000 after purchasing an additional 574,737 shares during the last quarter. 24.25% of the stock is owned by hedge funds and other institutional investors.

Mplx Company Profile

(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, 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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Analyst Recommendations for Mplx (NYSE:MPLX)

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