Mplx (NYSE:MPLX) Issues Quarterly Earnings Results

Mplx (NYSE:MPLX) announced its quarterly earnings data on Tuesday. The pipeline company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.03, Zacks reports. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.07 billion. Mplx had a net margin of 36.77% and a return on equity of 32.70%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $1.10 EPS.

Mplx Price Performance

Shares of NYSE:MPLX opened at $54.06 on Thursday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95. The stock has a market capitalization of $55.07 billion, a P/E ratio of 12.71, a P/E/G ratio of 2.33 and a beta of 1.42. The business has a 50-day moving average of $49.56 and a two-hundred day moving average of $45.97. Mplx has a fifty-two week low of $37.47 and a fifty-two week high of $53.93.

Mplx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.9565 per share. This represents a $3.83 annualized dividend and a dividend yield of 7.08%. The ex-dividend date is Monday, February 3rd. Mplx’s dividend payout ratio is currently 90.33%.

Insider Activity at Mplx

In other news, VP Carl Kristopher Hagedorn sold 4,000 shares of Mplx stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $47.24, for a total value of $188,960.00. Following the transaction, the vice president now owns 14,750 shares of the company’s stock, valued at $696,790. This trade represents a 21.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MPLX. UBS Group lifted their target price on Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Wells Fargo & Company upped their target price on Mplx from $53.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Barclays increased their target price on Mplx from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. StockNews.com lowered Mplx from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, Bank of America started coverage on shares of Mplx in a research note on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price target on the stock. One analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $50.50.

Mplx Company Profile

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Logistics and Storage (L&S) and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.