Q2 2024 EPS Estimates for Mplx Lp Increased by US Capital Advisors (NYSE:MPLX)

Mplx Lp (NYSE:MPLX) – Analysts at US Capital Advisors lifted their Q2 2024 earnings per share (EPS) estimates for shares of Mplx in a research report issued to clients and investors on Monday, April 29th. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will post earnings of $0.98 per share for the quarter, up from their prior forecast of $0.97. The consensus estimate for Mplx’s current full-year earnings is $4.08 per share. US Capital Advisors also issued estimates for Mplx’s Q3 2024 earnings at $1.03 EPS.

A number of other equities research analysts have also issued reports on MPLX. UBS Group increased their price target on Mplx from $46.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Truist Financial increased their price target on shares of Mplx from $43.00 to $48.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank of Canada increased 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. Stifel Nicolaus increased their price target on shares of Mplx from $45.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday. Finally, 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 report on Wednesday, January 31st. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $45.00.

Mplx Price Performance

Shares of MPLX opened at $41.09 on Thursday. The company has a current ratio of 1.07, a quick ratio of 1.01 and a debt-to-equity ratio of 1.52. The firm has a market cap of $41.53 billion, a PE ratio of 10.59 and a beta of 1.35. Mplx has a 1-year low of $33.12 and a 1-year high of $42.90. The firm has a fifty day simple moving average of $40.77 and a two-hundred day simple moving average of $38.15.

Mplx (NYSE:MPLX) last released its quarterly earnings data 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 business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.89 billion. Mplx had a net margin of 34.96% and a return on equity of 32.13%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company posted $0.91 earnings per share.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MPLX. Mcdonald Partners LLC increased its holdings in Mplx by 1.5% in the first quarter. Mcdonald Partners LLC now owns 16,941 shares of the pipeline company’s stock valued at $704,000 after buying an additional 256 shares in the last quarter. Avalon Trust Co raised its holdings in Mplx by 23.4% in the 4th quarter. Avalon Trust Co now owns 1,711 shares of the pipeline company’s stock valued at $63,000 after acquiring an additional 324 shares during the last quarter. Belfer Management LLC raised its holdings in Mplx by 4.4% in the 1st quarter. Belfer Management LLC now owns 7,733 shares of the pipeline company’s stock valued at $321,000 after acquiring an additional 325 shares during the last quarter. Lee Financial Co raised its holdings in Mplx by 5.1% in the 3rd quarter. Lee Financial Co now owns 6,821 shares of the pipeline company’s stock valued at $243,000 after acquiring an additional 329 shares during the last quarter. Finally, PSI Advisors LLC raised its holdings in Mplx by 63.6% in the 4th quarter. PSI Advisors LLC now owns 900 shares of the pipeline company’s stock valued at $33,000 after acquiring an additional 350 shares during the last quarter. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Mplx Dividend Announcement

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

About Mplx

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.