Mplx (NYSE:MPLX) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Mplx (NYSE:MPLX) in a research report report published on Tuesday, Marketbeat.com reports. The brokerage issued a neutral rating and a $62.00 price objective on the pipeline company’s stock.

Several other research analysts have also recently commented on the company. Barclays raised their target price on Mplx from $59.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Royal Bank Of Canada increased their price objective on shares of Mplx from $60.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, August 21st. Stifel Nicolaus assumed coverage on shares of Mplx in a research note on Thursday, September 10th. They issued a “hold” rating and a $65.00 price objective for the company. Wells Fargo & Company raised their price objective 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, Weiss Ratings reiterated a “buy (a-)” rating on shares of Mplx in a research report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.80.

Mplx Trading Down 0.4%

Mplx stock opened at $58.20 on Tuesday. The business has a 50 day moving average price of $58.39 and a two-hundred day moving average price of $57.18. 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 stock has a market cap of $59.01 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 5.57 and a beta of 0.49. Mplx has a 12 month low of $50.12 and a 12 month high of $60.95.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $1.06 earnings per share for the quarter, hitting the consensus estimate of $1.06. The company had revenue of $3.13 billion for 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%. Mplx’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 EPS. As a group, equities analysts forecast that Mplx will post 4.25 EPS for the current year.

Mplx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, August 7th were given a dividend of $1.0765 per share. This represents a $4.31 annualized dividend and a dividend yield of 7.4%. The ex-dividend date was Friday, August 7th. Mplx’s dividend payout ratio (DPR) is 92.69%.

Institutional Trading of Mplx

Large investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC grew its holdings in shares of Mplx by 27.3% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 24,726 shares of the pipeline company’s stock worth $1,393,000 after purchasing an additional 5,299 shares during the last quarter. VELA Investment Management LLC increased its position in shares of Mplx by 10.0% during the 2nd quarter. VELA Investment Management LLC now owns 18,164 shares of the pipeline company’s stock worth $1,023,000 after purchasing an additional 1,651 shares in the last quarter. Corient Private Wealth LP lifted its holdings in Mplx by 3.1% during the 2nd quarter. Corient Private Wealth LP now owns 348,098 shares of the pipeline company’s stock valued at $19,608,000 after purchasing an additional 10,377 shares during the last quarter. Wellington Grp LLC lifted its holdings in Mplx by 61.1% during the 2nd quarter. Wellington Grp LLC now owns 15,589 shares of the pipeline company’s stock valued at $878,000 after purchasing an additional 5,914 shares during the last quarter. Finally, Advus Financial Partners LLC lifted its holdings in Mplx by 3.2% during the 2nd quarter. Advus Financial Partners LLC now owns 6,191 shares of the pipeline company’s stock valued at $349,000 after purchasing an additional 191 shares during the last quarter. 24.25% of the stock is currently owned by institutional investors.

About Mplx

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.