Mplx (NYSE:MPLX) Price Target Raised to $47.00

Mplx (NYSE:MPLX) had its target price upped by Stifel Nicolaus from $45.00 to $47.00 in a research report released on Wednesday, Benzinga reports. The firm currently has a buy rating on the pipeline company’s stock.

Several other equities analysts have also recently issued reports on the company. UBS Group raised their price objective on Mplx from $46.00 to $49.00 and gave the stock a buy rating in a research note on Friday, April 12th. Royal Bank of Canada lifted their price target on shares of Mplx from $45.00 to $46.00 and gave the company an outperform rating in a report on Wednesday, January 31st. Raymond James increased their price objective on shares of Mplx from $44.00 to $45.00 and gave the stock an outperform rating in a research note on Wednesday, January 31st. StockNews.com raised shares of Mplx from a buy rating to a strong-buy rating in a report on Wednesday, January 31st. Finally, Barclays upped their target price on Mplx from $40.00 to $43.00 and gave the company an overweight rating in a report on Friday, April 5th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Mplx currently has an average rating of Moderate Buy and a consensus price target of $45.11.

Mplx Stock Performance

Shares of Mplx stock opened at $41.11 on Wednesday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.01 and a current ratio of 0.72. Mplx has a 1 year low of $33.12 and a 1 year high of $42.90. The firm’s 50-day simple moving average is $40.77 and its 200-day simple moving average is $38.15. The firm has a market cap of $41.55 billion, a PE ratio of 10.60 and a beta of 1.35.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.01). Mplx had a net margin of 34.96% and a return on equity of 31.70%. The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the prior year, the firm earned $0.91 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities analysts forecast that Mplx will post 4.06 earnings per share for the current fiscal year.

Mplx Announces Dividend

The firm also recently disclosed 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. This represents a $3.40 dividend on an annualized basis and a yield of 8.27%. The ex-dividend date is Thursday, May 2nd. Mplx’s dividend payout ratio (DPR) is 87.63%.

Institutional Trading of Mplx

Hedge funds have recently added to or reduced their stakes in the business. Quent Capital LLC bought a new position in shares of Mplx in the first quarter worth $35,000. PSI Advisors LLC lifted its holdings in Mplx by 63.6% in the fourth quarter. PSI Advisors LLC now owns 900 shares of the pipeline company’s stock worth $33,000 after purchasing an additional 350 shares during the period. JFS Wealth Advisors LLC bought a new position in Mplx in the 3rd quarter valued at about $33,000. HBC Financial Services PLLC acquired a new position in Mplx during the 4th quarter valued at about $36,000. Finally, Pacifica Partners Inc. bought a new stake in shares of Mplx during the 1st quarter worth about $41,000. Institutional investors own 24.25% of the company’s stock.

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.