US Capital Advisors Weighs in on Mplx Lp’s Q2 2024 Earnings (NYSE:MPLX)

Mplx Lp (NYSE:MPLX) – Equities research analysts at US Capital Advisors boosted their Q2 2024 earnings per share (EPS) estimates for shares of Mplx in a research note issued to investors on Monday, April 29th. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will post earnings of $0.98 per share for the quarter, up from their previous forecast of $0.97. The consensus estimate for Mplx’s current full-year earnings is $4.06 per share. US Capital Advisors also issued estimates for Mplx’s Q3 2024 earnings at $1.03 EPS.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.89 billion. Mplx had a net margin of 34.96% and a return on equity of 31.70%. Mplx’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the business posted $0.91 earnings per share.

Several other research analysts have also recently issued reports on MPLX. Raymond James increased their price objective on shares of Mplx from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Barclays lifted their price target on Mplx from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Truist Financial upped their price objective on Mplx from $43.00 to $48.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank of Canada lifted their target price on Mplx from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Finally, StockNews.com downgraded shares of Mplx from a “strong-buy” rating to a “buy” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.11.

Mplx Stock Up 0.0 %

Mplx stock opened at $41.11 on Thursday. Mplx has a 52 week low of $33.12 and a 52 week high of $42.90. The stock has a market cap of $41.55 billion, a price-to-earnings ratio of 10.60 and a beta of 1.35. The company’s 50-day moving average price is $40.77 and its two-hundred day moving average price is $38.15. The company has a current ratio of 0.72, a quick ratio of 1.01 and a debt-to-equity ratio of 1.44.

Mplx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Friday, May 3rd will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $3.40 dividend on an annualized basis and a yield of 8.27%. Mplx’s dividend payout ratio is currently 87.63%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. JFS Wealth Advisors LLC acquired a new position in Mplx during the third quarter valued at $33,000. PSI Advisors LLC increased its holdings in shares of Mplx by 63.6% in the 4th quarter. PSI Advisors LLC now owns 900 shares of the pipeline company’s stock valued at $33,000 after purchasing an additional 350 shares during the period. Quent Capital LLC purchased a new stake in shares of Mplx in the first quarter worth approximately $35,000. HBC Financial Services PLLC acquired a new stake in shares of Mplx during the fourth quarter worth approximately $36,000. Finally, Fortitude Family Office LLC purchased a new position in Mplx during the fourth quarter valued at approximately $41,000. 24.25% of the stock is owned by hedge funds and other institutional investors.

About Mplx

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.