MPLX LP (MPLX) Releases Quarterly Earnings Results
MPLX LP (NASDAQ:MPLX) announced its earnings results on Wednesday. The company reported $0.27 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.27, AmericanBankingNews.com reports. The company had revenue of $125.60 million for the quarter, compared to the consensus estimate of $123.77 million.
Several analysts have recently commented on the stock. Analysts at Barclays upgraded shares of MPLX LP from an “equal weight” rating to an “overweight” rating in a research note to investors on Tuesday, January 14th. On the ratings front, analysts at Merrill Lynch downgraded shares of MPLX LP to an “underperform” rating in a research note to investors on Friday, January 3rd. Finally, analysts at Bank of America Corp. downgraded shares of MPLX LP from a “neutral” rating to an “underperform” rating in a research note to investors on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $39.00.
MPLX LP (NASDAQ:MPLX) opened at 46.33 on Wednesday. MPLX LP has a 52 week low of $32.12 and a 52 week high of $46.75. The stock’s 50-day moving average is $41.08 and its 200-day moving average is $37.67. The company’s market cap is $3.424 billion.
The company also recently declared a quarterly dividend, which is scheduled for Friday, February 14th. Investors of record on Tuesday, February 4th will be given a dividend of 0.3125 per share. This represents a $1.25 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Friday, January 31st.
MPLX LP is a fee-based limited partnership formed by Marathon Petroleum Corporation to own, operate, develop and acquire crude oil, refined product and other hydrocarbon-based product pipelines and other midstream assets.
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