Mplx (NYSE:MPLX) Stock Passes Above 200 Day Moving Average – What’s Next?

Mplx Lp (NYSE:MPLX)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $57.10 and traded as high as $59.54. Mplx shares last traded at $59.19, with a volume of 1,406,012 shares changing hands.

Analysts Set New Price Targets

MPLX has been the topic of a number of recent research reports. Royal Bank Of Canada lifted their target price on Mplx from $60.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, August 21st. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Mplx in a report on Thursday, August 13th. Zacks Research upgraded Mplx from a “strong sell” rating to a “hold” rating in a research report on Friday, June 5th. Morgan Stanley lifted their price target on Mplx from $60.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 12th. Finally, Barclays boosted their price objective on Mplx from $59.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.20.

Mplx Stock Performance

The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 1.71. The stock has a market capitalization of $59.92 billion, a PE ratio of 12.71, a PEG ratio of 5.60 and a beta of 0.48. The firm’s 50-day simple moving average is $58.04 and its two-hundred day simple moving average is $57.13.

Mplx (NYSE:MPLX) last released its earnings results on Tuesday, August 4th. The pipeline company reported $1.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.06. The company had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.14 billion. Mplx had a return on equity of 32.83% and a net margin of 35.75%.The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 earnings per share. On average, equities research analysts expect that Mplx Lp will post 4.28 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, August 7th were paid a $1.0765 dividend. This represents a $4.31 annualized dividend and a yield of 7.3%. The ex-dividend date of this dividend was Friday, August 7th. Mplx’s dividend payout ratio is currently 92.69%.

Hedge Funds Weigh In On Mplx

Institutional investors and hedge funds have recently bought and sold shares of the business. Trust Co. of Vermont acquired a new stake in Mplx in the second quarter valued at approximately $28,000. Assetmark Inc. raised its holdings in shares of Mplx by 81.5% during the 1st quarter. Assetmark Inc. now owns 559 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 251 shares in the last quarter. Wiser Advisor Group LLC acquired a new stake in shares of Mplx in the 3rd quarter valued at $38,000. Prosperity Bancshares Inc acquired a new stake in shares of Mplx in the 4th quarter valued at $43,000. Finally, Axiom Investment Management LLC bought a new stake in Mplx in the first quarter worth $46,000. Hedge funds and other institutional investors own 24.25% of the company’s stock.

About Mplx

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.