Mplx Lp (MPLX) Declares Quarterly Dividend of $0.34
Mplx Lp (NASDAQ:MPLX) declared a quarterly dividend on Tuesday, July 22nd, AnalystRatingsNetwork reports. Shareholders of record on Monday, August 4th will be given a dividend of 0.3425 per share on Thursday, August 14th. This represents a $1.37 dividend on an annualized basis and a yield of 2.28%.
A number of research firms have recently commented on MPLX. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Mplx Lp in a research note on Wednesday, June 4th. They now have a $64.00 price target on the stock, up previously from $55.00. On a related note, analysts at Zacks upgraded shares of Mplx Lp from a “neutral” rating to an “outperform” rating in a research note on Monday, May 5th. They now have a $57.50 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Mplx Lp in a research note on Friday, May 2nd. They now have a $62.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. Mplx Lp currently has an average rating of “Buy” and an average target price of $56.13.
Mplx Lp (NASDAQ:MPLX) traded up 0.18% on Tuesday, hitting $60.10. 20,504 shares of the company’s stock traded hands. Mplx Lp has a 52 week low of $34.51 and a 52 week high of $68.05. The stock has a 50-day moving average of $61.36 and a 200-day moving average of $52.85. The company has a market cap of $4.442 billion and a P/E ratio of 48.15.
Mplx Lp (NASDAQ:MPLX) last announced its earnings results on Thursday, May 1st. The company reported $0.41 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.34 by $0.07. The company had revenue of $137.30 million for the quarter, compared to the consensus estimate of $130.82 million. During the same quarter last year, the company posted $0.26 earnings per share. Mplx Lp’s revenue was up 19.7% compared to the same quarter last year. On average, analysts predict that Mplx Lp will post $1.68 EPS for the current fiscal year.
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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