$2.23 Billion in Sales Expected for Mplx Lp (NYSE:MPLX) This Quarter

Equities research analysts expect Mplx Lp (NYSE:MPLX) to announce $2.23 billion in sales for the current quarter, Zacks reports. Two analysts have made estimates for Mplx’s earnings, with estimates ranging from $2.14 billion to $2.32 billion. Mplx reported sales of $1.72 billion during the same quarter last year, which would suggest a positive year over year growth rate of 29.7%. The company is expected to issue its next earnings report before the market opens on Wednesday, January 29th.

According to Zacks, analysts expect that Mplx will report full-year sales of $7.81 billion for the current financial year, with estimates ranging from $7.69 billion to $7.87 billion. For the next year, analysts expect that the company will post sales of $9.11 billion, with estimates ranging from $8.72 billion to $9.38 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Mplx.

Mplx (NYSE:MPLX) last released its earnings results on Thursday, October 31st. The pipeline company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02. The firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.05 billion. Mplx had a return on equity of 21.25% and a net margin of 28.17%. The firm’s revenue for the quarter was up 33.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.62 earnings per share.

A number of equities research analysts have weighed in on MPLX shares. ValuEngine upgraded Mplx from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Barclays downgraded Mplx from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $27.00 to $30.00 in a research report on Tuesday, January 14th. TheStreet downgraded Mplx from a “b-” rating to a “c+” rating in a research report on Thursday, October 24th. Royal Bank of Canada set a $33.00 target price on Mplx and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, SunTrust Banks started coverage on Mplx in a research report on Friday, December 13th. They issued a “hold” rating and a $28.00 target price for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. Mplx currently has a consensus rating of “Buy” and an average target price of $34.07.

Several large investors have recently made changes to their positions in MPLX. CIBC Private Wealth Group LLC lifted its position in shares of Mplx by 183.9% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 9,511,080 shares of the pipeline company’s stock valued at $266,404,000 after acquiring an additional 6,161,044 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its position in shares of Mplx by 29.1% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 11,259,552 shares of the pipeline company’s stock valued at $315,368,000 after acquiring an additional 2,536,883 shares during the last quarter. Chickasaw Capital Management LLC lifted its position in shares of Mplx by 41.7% during the 3rd quarter. Chickasaw Capital Management LLC now owns 8,363,133 shares of the pipeline company’s stock valued at $234,251,000 after acquiring an additional 2,462,967 shares during the last quarter. Alps Advisors Inc. lifted its position in shares of Mplx by 5.6% during the 3rd quarter. Alps Advisors Inc. now owns 29,266,923 shares of the pipeline company’s stock valued at $819,767,000 after acquiring an additional 1,544,357 shares during the last quarter. Finally, Delphi Financial Group Inc. raised its stake in Mplx by 235.5% during the 3rd quarter. Delphi Financial Group Inc. now owns 1,275,000 shares of the pipeline company’s stock valued at $35,713,000 after purchasing an additional 895,000 shares during the period. Institutional investors own 31.57% of the company’s stock.

MPLX traded down $0.28 during trading on Tuesday, reaching $24.57. The stock had a trading volume of 2,784,869 shares, compared to its average volume of 3,259,997. The firm has a market capitalization of $26.30 billion, a price-to-earnings ratio of 10.73 and a beta of 1.07. The company has a quick ratio of 0.60, a current ratio of 0.65 and a debt-to-equity ratio of 1.09. Mplx has a 1-year low of $22.60 and a 1-year high of $35.85. The stock has a 50 day moving average of $25.82 and a two-hundred day moving average of $27.13.

Mplx Company Profile

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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