Mplx Lp (NYSE:MPLX – Get Free Report) hit a new 52-week high on Wednesday after the company announced a dividend. The company traded as high as $59.99 and last traded at $59.7450, with a volume of 136446 shares. The stock had previously closed at $59.20.
The newly announced dividend which will be paid on Friday, August 14th. Shareholders of record on Friday, August 7th will be issued a dividend of $1.0765 per share. This represents a $4.31 annualized dividend and a yield of 7.2%. The ex-dividend date is Friday, August 7th. Mplx’s dividend payout ratio is presently 93.29%.
Analyst Upgrades and Downgrades
MPLX has been the topic of a number of recent research reports. Weiss Ratings downgraded shares of Mplx from a “buy (a)” rating to a “buy (a-)” rating in a research note on Monday, May 18th. Zacks Research upgraded shares of Mplx from a “strong sell” rating to a “hold” rating in a report on Friday, June 5th. Morgan Stanley cut their target price on Mplx from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 20th. Wolfe Research downgraded shares of Mplx from an “outperform” rating to a “peer perform” rating in a research report on Wednesday. Finally, The Goldman Sachs Group boosted their price target on Mplx from $55.00 to $63.00 and gave the company a “buy” rating in a report on Monday, April 20th. One 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. According to MarketBeat.com, Mplx currently has an average rating of “Moderate Buy” and a consensus target price of $61.60.
Mplx Trading Up 0.9%
The company has a fifty day moving average of $56.60 and a 200-day moving average of $56.48. The company has a market capitalization of $60.61 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 5.64 and a beta of 0.47. The company has a current ratio of 1.10, a quick ratio of 1.05 and a debt-to-equity ratio of 1.71.
Mplx (NYSE:MPLX – Get Free Report) last released its earnings results on Tuesday, May 5th. The pipeline company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.15). Mplx had a net margin of 36.38% and a return on equity of 32.74%. The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter last year, the business earned $1.10 EPS. The business’s revenue was down 2.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Mplx Lp will post 4.19 earnings per share for the current fiscal year.
Institutional Trading of Mplx
A number of hedge funds have recently bought and sold shares of MPLX. EQ Wealth Advisors LLC purchased a new position in Mplx in the 4th quarter worth approximately $32,000. Assetmark Inc. grew its position in shares of Mplx by 81.5% in the first 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 purchased a new stake in shares of Mplx in the third quarter valued at approximately $38,000. Prosperity Bancshares Inc acquired a new stake in shares of Mplx in the fourth quarter valued at approximately $43,000. Finally, Axiom Investment Management LLC purchased a new position in Mplx during the first quarter worth approximately $46,000. Institutional investors and hedge funds own 24.25% of the company’s stock.
Mplx Company Profile
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.
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