Mplx (NYSE:MPLX) Given New $45.00 Price Target at Barclays

Mplx (NYSE:MPLX) had its price objective trimmed by Barclays from $46.00 to $45.00 in a report released on Monday morning, Benzinga reports. The firm currently has an overweight rating on the pipeline company’s stock.

Other analysts also recently issued reports about the company. Royal Bank of Canada restated an outperform rating and set a $47.00 price objective on shares of Mplx in a report on Wednesday, August 28th. Wells Fargo & Company increased their price target on Mplx from $47.00 to $50.00 and gave the company an overweight rating in a report on Wednesday, August 7th. Finally, StockNews.com upgraded Mplx from a buy rating to a strong-buy rating in a report on Sunday, August 11th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Buy and an average target price of $46.56.

Mplx Trading Up 0.2 %

MPLX stock opened at $44.14 on Monday. The company has a market cap of $44.85 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 1.19 and a beta of 1.37. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.41. The business has a fifty day simple moving average of $42.53 and a 200-day simple moving average of $41.63. Mplx has a 52 week low of $34.52 and a 52 week high of $44.59.

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

Mplx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 9th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.40 annualized dividend and a dividend yield of 7.70%. Mplx’s dividend payout ratio is presently 87.63%.

Institutional Trading of Mplx

Several large investors have recently modified their holdings of the business. Mcdonald Partners LLC grew its stake in shares of Mplx by 1.4% during the second quarter. Mcdonald Partners LLC now owns 17,180 shares of the pipeline company’s stock valued at $732,000 after acquiring an additional 239 shares in the last quarter. Sound Income Strategies LLC grew its stake in shares of Mplx by 10.4% during the second quarter. Sound Income Strategies LLC now owns 2,992 shares of the pipeline company’s stock valued at $127,000 after acquiring an additional 282 shares in the last quarter. Belfer Management LLC grew its stake in shares of Mplx by 4.4% during the first 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 in the last quarter. Prossimo Advisors LLC grew its stake in shares of Mplx by 6.3% during the second quarter. Prossimo Advisors LLC now owns 6,509 shares of the pipeline company’s stock valued at $277,000 after acquiring an additional 386 shares in the last quarter. Finally, Linscomb & Williams Inc. grew its stake in shares of Mplx by 2.5% during the fourth quarter. Linscomb & Williams Inc. now owns 15,948 shares of the pipeline company’s stock valued at $586,000 after acquiring an additional 389 shares in the last quarter. 24.25% of the stock is currently owned by institutional investors and hedge funds.

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.