Mplx Lp (MPLX) to Distribute Quarterly Dividend of $1.21 on November 13th

Mplx Lp (NYSE:MPLX) declared a quarterly dividend on Tuesday, October 27th. Stockholders of record on Friday, November 6th will be given a dividend of $1.2111 per share by the pipeline company on Friday, November 13th. This represents a $4.84 annualized dividend and a dividend yield of 8.4%. The ex-dividend date is Friday, November 6th. This is a 12.5% increase from Mplx’s previous quarterly dividend of $1.0765.

Mplx has raised its dividend payment by an average of 0.1% annually over the last three years and has raised its dividend every year for the last 9 years. Mplx has a payout ratio of 99.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Mplx to earn $4.69 per share next year, which means the company may not be able to cover its $4.84 annual dividend with an expected future payout ratio of 103.2%.

Mplx Stock Performance

MPLX opened at $57.49 on Wednesday. The company has a market cap of $58.28 billion, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 5.62 and a beta of 0.48. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 1.71. The firm’s 50-day moving average price is $58.37 and its 200-day moving average price is $57.25. Mplx has a 52-week low of $50.22 and a 52-week high of $60.95.

Mplx (NYSE:MPLX) last released its earnings results on Tuesday, November 3rd. The pipeline company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.35 billion. Mplx had a net margin of 35.75% and a return on equity of 32.83%. Mplx’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.52 EPS. As a group, equities analysts anticipate that Mplx will post 4.25 EPS for the current fiscal year.

Analysts Set New Price Targets

MPLX has been the subject of a number of research reports. Stifel Nicolaus began coverage on Mplx in a research note on Thursday, September 10th. They set a “hold” rating and a $65.00 price target on the stock. JPMorgan Chase & Co. began coverage on Mplx in a research note on Tuesday, October 20th. They issued a “neutral” rating and a $62.00 price objective for the company. Weiss Ratings upgraded Mplx from a “buy (a-)” rating to a “buy (a)” rating in a research report on Friday. Wells Fargo & Company increased their price target on shares of Mplx from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Finally, Royal Bank Of Canada upped their price objective on shares of Mplx from $60.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $63.80.

Mplx Company Profile

MPLX LP (NYSE:MPLX) is a master limited partnership that owns and operates midstream energy infrastructure in the United States. The company provides services for the gathering, processing, transportation, storage and marketing of crude oil, natural gas and natural gas liquids (NGLs).

MPLX’s assets include crude oil and refined-products pipelines, natural gas gathering and processing systems, NGL fractionation facilities, storage terminals and marine transportation infrastructure. Through its logistics and storage operations, the company supports the movement of hydrocarbons from producing regions to refineries, export facilities and other domestic markets.

The company serves several major U.S.