Mplx Lp (MPLX) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS
Mplx Lp (NYSE:MPLX) announced its earnings results on Thursday. The pipeline company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.02, MarketWatch Earnings reports. The business had revenue of $980.00 million during the quarter, compared to the consensus estimate of $965.07 million. Mplx Lp had a net margin of 19.07% and a return on equity of 6.13%. The business’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 earnings per share.
Mplx Lp (NYSE:MPLX) traded up 3.49% on Friday, reaching $35.32. 1,919,926 shares of the company’s stock were exchanged. Mplx Lp has a 12 month low of $30.88 and a 12 month high of $39.43. The stock has a market capitalization of $13.72 billion, a PE ratio of 42.20 and a beta of 1.36. The firm has a 50 day moving average of $34.61 and a 200 day moving average of $34.48.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Monday, November 6th will be paid a dividend of $0.5875 per share. This represents a $2.35 dividend on an annualized basis and a yield of 6.65%. This is an increase from Mplx Lp’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Friday, November 3rd. Mplx Lp’s dividend payout ratio is 271.09%.
In related news, VP C Corwin Bromley sold 2,500 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $34.50, for a total transaction of $86,250.00. Following the transaction, the vice president now owns 123,705 shares of the company’s stock, valued at $4,267,822.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 8,000 shares of company stock worth $276,910 in the last ninety days.
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Mplx Lp Company Profile
MPLX LP is a master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets. The Company is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids (NGLs), and the gathering, transportation and storage of crude oil and refined petroleum products.
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