Weekly Investment Analysts’ Ratings Updates for Mplx (MPLX)

A number of firms have modified their ratings and price targets on shares of Mplx (NYSE: MPLX) recently:

• 5/2/2024 – Mplx had its price target raised by analysts at Truist Financial Co. from $43.00 to $48.00. They now have a “buy” rating on the stock.
• 5/1/2024 – Mplx was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 5/1/2024 – Mplx had its price target raised by analysts at Stifel Nicolaus from $45.00 to $47.00. They now have a “buy” rating on the stock.
• 4/12/2024 – Mplx had its price target raised by analysts at UBS Group AG from $46.00 to $49.00. They now have a “buy” rating on the stock.
• 4/5/2024 – Mplx had its price target raised by analysts at Barclays PLC from $40.00 to $43.00. They now have an “overweight” rating on the stock.

Mplx Trading Down 1.2 %

MPLX stock traded down $0.50 during midday trading on Thursday, hitting $41.09. The stock had a trading volume of 1,377,051 shares, compared to its average volume of 2,200,529. The firm has a market cap of $41.53 billion, a P/E ratio of 10.59 and a beta of 1.35. The company has a current ratio of 1.07, a quick ratio of 1.01 and a debt-to-equity ratio of 1.52. Mplx Lp has a 1-year low of $33.12 and a 1-year high of $42.90. The business has a fifty day moving average price of $40.74 and a two-hundred day moving average price of $38.13.

Mplx (NYSE:MPLX) last released its earnings results on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.01). The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.89 billion. Mplx had a net margin of 34.96% and a return on equity of 32.13%. Mplx’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 EPS. On average, sell-side analysts predict that Mplx Lp will post 4.08 earnings per share for the current fiscal year.

Mplx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Friday, May 3rd will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $3.40 annualized dividend and a yield of 8.27%. Mplx’s payout ratio is 87.63%.

Hedge Funds Weigh In On Mplx

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mutual of America Capital Management LLC raised its holdings in shares of Mplx by 7.0% during the first quarter. Mutual of America Capital Management LLC now owns 42,539 shares of the pipeline company’s stock valued at $1,768,000 after purchasing an additional 2,778 shares during the period. Quent Capital LLC acquired a new position in shares of Mplx during the first quarter valued at about $35,000. Fortem Financial Group LLC raised its holdings in shares of Mplx by 4.3% during the first quarter. Fortem Financial Group LLC now owns 34,685 shares of the pipeline company’s stock valued at $1,442,000 after purchasing an additional 1,417 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Mplx by 17.2% during the first quarter. Janney Montgomery Scott LLC now owns 37,198 shares of the pipeline company’s stock valued at $1,546,000 after purchasing an additional 5,469 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in shares of Mplx by 53.9% during the first quarter. BNP Paribas Financial Markets now owns 1,826,484 shares of the pipeline company’s stock valued at $75,909,000 after purchasing an additional 639,851 shares during the period. Institutional investors and hedge funds own 24.25% of the company’s stock.

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.