Mplx (NYSE:MPLX) Given New $27.00 Price Target at Barclays

Mplx (NYSE:MPLX) had its target price lowered by Barclays from $33.00 to $27.00 in a research report sent to investors on Wednesday morning, The Fly reports. Barclays currently has an overweight rating on the pipeline company’s stock.

MPLX has been the subject of several other research reports. ValuEngine raised shares of Mplx from a sell rating to a hold rating in a research note on Wednesday, October 30th. Scotiabank assumed coverage on shares of Mplx in a research note on Tuesday, September 3rd. They issued an outperform rating and a $36.00 target price on the stock. Raymond James lowered their target price on Mplx from $34.00 to $32.00 and set an outperform rating on the stock in a report on Tuesday, October 8th. Jefferies Financial Group restated a buy rating and issued a $35.00 price target on shares of Mplx in a research report on Tuesday, September 3rd. Finally, TheStreet cut Mplx from a b- rating to a c+ rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of Buy and a consensus target price of $34.67.

Shares of MPLX traded up $0.36 during mid-day trading on Wednesday, hitting $24.02. 135,639 shares of the company were exchanged, compared to its average volume of 2,246,999. Mplx has a 1-year low of $22.60 and a 1-year high of $35.85. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.60 and a current ratio of 0.65. The company has a 50 day moving average of $25.05 and a 200-day moving average of $28.60. The stock has a market cap of $25.05 billion, a price-to-earnings ratio of 10.47 and a beta of 1.03.

Mplx (NYSE:MPLX) last posted its quarterly earnings data on Thursday, October 31st. The pipeline company reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.02. The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Mplx had a return on equity of 21.25% and a net margin of 28.17%. Mplx’s revenue was up 33.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.62 EPS. Research analysts anticipate that Mplx will post 2.41 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were paid a dividend of $0.6775 per share. The ex-dividend date was Friday, November 1st. This is an increase from Mplx’s previous quarterly dividend of $0.44. This represents a $2.71 dividend on an annualized basis and a yield of 11.28%. Mplx’s payout ratio is 118.34%.

Large investors have recently bought and sold shares of the business. FMR LLC raised its stake in shares of Mplx by 6.4% in the 1st quarter. FMR LLC now owns 336,101 shares of the pipeline company’s stock valued at $11,054,000 after acquiring an additional 20,300 shares during the period. Amundi Pioneer Asset Management Inc. boosted its holdings in Mplx by 122.9% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 463,730 shares of the pipeline company’s stock valued at $15,253,000 after purchasing an additional 255,707 shares during the period. Steward Partners Investment Advisory LLC grew its stake in Mplx by 10.8% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 16,585 shares of the pipeline company’s stock worth $533,000 after purchasing an additional 1,619 shares in the last quarter. Wambolt & Associates LLC grew its stake in Mplx by 8.5% during the 2nd quarter. Wambolt & Associates LLC now owns 13,905 shares of the pipeline company’s stock worth $448,000 after purchasing an additional 1,095 shares in the last quarter. Finally, Cobblestone Capital Advisors LLC NY purchased a new stake in Mplx during the 2nd quarter worth about $325,000. Institutional investors own 31.70% of the company’s stock.

About Mplx

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. The company also provides fuels distribution services. 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; and transportation, storage, and distribution of crude oil and refined petroleum products.

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