BidaskClub upgraded shares of Mplx Lp (NYSE:MPLX) from a strong sell rating to a sell rating in a research report report published on Tuesday morning.
Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus cut their price target on Mplx Lp from $42.00 to $41.00 and set a buy rating for the company in a report on Friday, October 27th. Royal Bank Of Canada reaffirmed a buy rating on shares of Mplx Lp in a report on Friday, July 28th. Scotiabank set a $44.00 price target on Mplx Lp and gave the company a buy rating in a report on Saturday, July 22nd. Guggenheim assumed coverage on Mplx Lp in a report on Thursday, July 20th. They issued a buy rating and a $40.00 price target for the company. Finally, Jefferies Group LLC cut their price target on Mplx Lp from $42.00 to $41.00 and set a buy rating for the company in a report on Monday, August 28th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the stock. Mplx Lp presently has a consensus rating of Buy and a consensus target price of $41.75.
Mplx Lp (NYSE:MPLX) traded up 0.26% during trading on Tuesday, hitting $35.35. The stock had a trading volume of 469,488 shares. The company has a market cap of $13.73 billion, a PE ratio of 42.23 and a beta of 1.36. The company’s 50 day moving average is $34.70 and its 200-day moving average is $34.43. Mplx Lp has a 12 month low of $30.88 and a 12 month high of $39.43.
Mplx Lp (NYSE:MPLX) last posted its quarterly earnings results on Thursday, October 26th. The pipeline company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.27 by $0.02. Mplx Lp had a return on equity of 5.88% and a net margin of 16.79%. The firm had revenue of $980.00 million during the quarter, compared to analysts’ expectations of $965.07 million. During the same quarter last year, the firm earned $0.21 earnings per share. The business’s revenue for the quarter was up 16.9% on a year-over-year basis. On average, equities research analysts predict that Mplx Lp will post $1.05 earnings per share for the current year.
The firm also recently announced 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 is a boost from Mplx Lp’s previous quarterly dividend of $0.56. The ex-dividend date is Friday, November 3rd. This represents a $2.35 annualized dividend and a yield of 6.66%. Mplx Lp’s dividend payout ratio (DPR) is 247.26%.
In other Mplx Lp news, VP C Corwin Bromley sold 2,500 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $34.50, for a total transaction of $86,250.00. Following the completion of the sale, the vice president now owns 123,705 shares of the company’s stock, valued at $4,267,822.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 8,000 shares of company stock valued at $276,910.
A number of hedge funds have recently bought and sold shares of the business. Bank of Montreal Can boosted its position in shares of Mplx Lp by 36.3% during the second quarter. Bank of Montreal Can now owns 6,234,136 shares of the pipeline company’s stock worth $208,220,000 after buying an additional 1,661,578 shares during the period. Balyasny Asset Management LLC boosted its position in shares of Mplx Lp by 351.2% during the second quarter. Balyasny Asset Management LLC now owns 1,633,092 shares of the pipeline company’s stock worth $54,545,000 after buying an additional 1,271,145 shares during the period. Alps Advisors Inc. boosted its position in shares of Mplx Lp by 5.3% during the second quarter. Alps Advisors Inc. now owns 20,056,272 shares of the pipeline company’s stock worth $669,879,000 after buying an additional 1,015,105 shares during the period. American International Group Inc. purchased a new position in shares of Mplx Lp during the first quarter worth $567,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Mplx Lp by 9.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,812,175 shares of the pipeline company’s stock worth $127,327,000 after buying an additional 327,092 shares during the period. 63.19% of the stock is owned by institutional investors.
About Mplx Lp
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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