Royal Bank of Canada Increases Mplx (NYSE:MPLX) Price Target to $50.00

Mplx (NYSE:MPLX) had its price target increased by Royal Bank of Canada from $47.00 to $50.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an outperform rating on the pipeline company’s stock.

MPLX has been the topic of several other reports. UBS Group upped their price objective on shares of Mplx from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Barclays lifted their price objective on Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. StockNews.com raised Mplx from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company lifted their target price on Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $47.67.

Mplx Stock Up 0.0 %

Shares of NYSE MPLX opened at $44.34 on Wednesday. The company has a market capitalization of $45.06 billion, a P/E ratio of 11.43, a P/E/G ratio of 1.22 and a beta of 1.37. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.99 and a quick ratio of 0.95. The company has a 50 day simple moving average of $43.38 and a 200-day simple moving average of $42.19. Mplx has a 1 year low of $35.06 and a 1 year high of $45.24.

Mplx (NYSE:MPLX) last posted its earnings results on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.17. Mplx had a return on equity of 32.68% and a net margin of 35.95%. The company had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter last year, the firm earned $0.91 earnings per share. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. On average, equities research analysts predict that Mplx will post 4.24 earnings per share for the current year.

Mplx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 9th were paid a $0.85 dividend. The ex-dividend date was Friday, August 9th. This represents a $3.40 annualized dividend and a yield of 7.67%. Mplx’s dividend payout ratio is currently 87.63%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MPLX. Quent Capital LLC acquired a new position in Mplx in the first quarter valued at $35,000. Crewe Advisors LLC purchased a new position in Mplx during the 1st quarter worth approximately $41,000. Register Financial Advisors LLC acquired a new position in Mplx during the first quarter worth approximately $42,000. Pacifica Partners Inc. purchased a new stake in Mplx in the first quarter valued at approximately $41,000. Finally, CWM LLC lifted its stake in Mplx by 73.3% in the second quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock valued at $45,000 after buying an additional 451 shares during the last quarter. Institutional investors and hedge funds 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.