Mplx (NYSE:MPLX) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Mplx (NYSE:MPLX) from a buy rating to a strong-buy rating in a report released on Thursday.

Other equities analysts also recently issued research reports about the company. Bank of America started coverage on Mplx in a report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price objective on the stock. Barclays raised their price target on shares of Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. UBS Group upped their price objective on shares of Mplx from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Wells Fargo & Company raised their target price on Mplx from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada increased their price objective on Mplx from $47.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $48.44.

Mplx Trading Up 1.3 %

Shares of NYSE:MPLX opened at $47.02 on Thursday. The firm has a fifty day moving average of $44.51 and a two-hundred day moving average of $42.73. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40. Mplx has a 12-month low of $35.31 and a 12-month high of $47.62. The firm has a market capitalization of $47.99 billion, a P/E ratio of 11.09, a price-to-earnings-growth ratio of 1.28 and a beta of 1.37.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). Mplx had a net margin of 36.77% and a return on equity of 32.70%. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period in the previous year, the business posted $0.89 EPS. Mplx’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities analysts expect that Mplx will post 4.31 EPS for the current fiscal year.

Mplx Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a $0.9565 dividend. This is an increase from Mplx’s previous quarterly dividend of $0.85. The ex-dividend date was Friday, November 8th. This represents a $3.83 annualized dividend and a dividend yield of 8.14%. Mplx’s dividend payout ratio (DPR) is presently 90.33%.

Institutional Trading of Mplx

A number of hedge funds have recently bought and sold shares of MPLX. ING Groep NV lifted its stake in shares of Mplx by 69.8% in the third quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock valued at $294,699,000 after buying an additional 2,725,000 shares during the period. Catalyst Capital Advisors LLC grew its holdings in shares of Mplx by 7.4% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 280,885 shares of the pipeline company’s stock worth $12,488,000 after purchasing an additional 19,320 shares in the last quarter. Sei Investments Co. raised its stake in shares of Mplx by 47.4% in the first quarter. Sei Investments Co. now owns 51,740 shares of the pipeline company’s stock valued at $2,150,000 after purchasing an additional 16,637 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Mplx by 22.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 81,884 shares of the pipeline company’s stock worth $3,487,000 after acquiring an additional 14,782 shares during the period. Finally, Lindbrook Capital LLC boosted its position in shares of Mplx by 27.2% during the 3rd quarter. Lindbrook Capital LLC now owns 52,128 shares of the pipeline company’s stock valued at $2,318,000 after acquiring an additional 11,144 shares in the last quarter. 24.25% of the stock is owned by institutional investors.

Mplx Company Profile

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.