Mplx Lp (NYSE:MPLX) Increases Dividend to $0.96 Per Share

Mplx Lp (NYSE:MPLXGet Free Report) announced a quarterly dividend on Tuesday, October 29th, Wall Street Journal reports. Investors of record on Friday, November 8th will be paid a dividend of 0.9565 per share by the pipeline company on Friday, November 15th. This represents a $3.83 annualized dividend and a yield of 8.62%. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from Mplx’s previous quarterly dividend of $0.85.

Mplx has increased its dividend payment by an average of 4.9% annually over the last three years. Mplx has a payout ratio of 77.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Mplx to earn $4.51 per share next year, which means the company should continue to be able to cover its $3.40 annual dividend with an expected future payout ratio of 75.4%.

Mplx Stock Performance

Shares of MPLX stock traded down $0.37 during trading hours on Wednesday, reaching $44.37. 1,984,626 shares of the company’s stock were exchanged, compared to its average volume of 1,818,588. The business has a fifty day moving average price of $43.72 and a 200-day moving average price of $42.31. The stock has a market capitalization of $45.09 billion, a P/E ratio of 11.53, a P/E/G ratio of 1.21 and a beta of 1.37. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.41. Mplx has a fifty-two week low of $35.06 and a fifty-two week high of $45.24.

Mplx (NYSE:MPLXGet Free Report) last released its earnings results on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.17. Mplx had a net margin of 35.95% and a return on equity of 32.68%. The business had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter last year, the company earned $0.91 earnings per share. The firm’s revenue was up 13.5% on a year-over-year basis. Analysts predict that Mplx will post 4.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MPLX shares. Barclays lifted their price objective on Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Wells Fargo & Company boosted their price target on shares of Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Royal Bank of Canada raised their price objective on shares of Mplx from $47.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. StockNews.com raised Mplx from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 10th. Finally, UBS Group lifted their price target on shares of Mplx from $49.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.67.

Check Out Our Latest Stock Report on MPLX

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, 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.

See Also

Dividend History for Mplx (NYSE:MPLX)

Receive News & Ratings for Mplx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mplx and related companies with MarketBeat.com's FREE daily email newsletter.