Mplx (NYSE:MPLX) Research Coverage Started at Stifel Nicolaus

by · The Markets Daily

Stifel Nicolaus assumed coverage on shares of Mplx (NYSE:MPLX – Free Report) in a research note published on Thursday morning. The firm issued a hold rating and a $65.00 price objective on the pipeline company’s stock.

Several other equities research analysts have also issued reports on the stock. Wells Fargo & Company raised their target price on shares of Mplx from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Wolfe Research downgraded shares of Mplx from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, July 29th. Barclays boosted their target price on Mplx from $59.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Royal Bank Of Canada upped their target price on Mplx from $60.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, August 21st. Finally, Morgan Stanley increased their price target on Mplx from $60.00 to $66.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 12th. One research 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $63.80.

Get Our Latest Stock Analysis on MPLX

Mplx Price Performance

Shares of Mplx stock opened at $59.88 on Thursday. The stock has a market cap of $60.71 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 5.69 and a beta of 0.48. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.83 and a current ratio of 0.89. The stock has a 50 day moving average price of $58.55 and a 200-day moving average price of $57.28. Mplx has a one year low of $47.80 and a one year high of $60.95.

Mplx (NYSE:MPLX – Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The pipeline company reported $1.06 earnings per share for the quarter, meeting 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 quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.03 EPS. Equities analysts expect that Mplx will post 4.26 EPS for the current year.

Mplx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, August 7th were issued a dividend of $1.0765 per share. The ex-dividend date was Friday, August 7th. This represents a $4.31 dividend on an annualized basis and a yield of 7.2%. Mplx’s dividend payout ratio (DPR) is presently 92.69%.

Institutional Investors Weigh In On Mplx

Several large investors have recently added to or reduced their stakes in MPLX. Trust Co. of Vermont bought a new stake in shares of Mplx during the second quarter valued at approximately $28,000. Assetmark Inc. increased its holdings in Mplx by 81.5% during the 1st quarter. Assetmark Inc. now owns 559 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 251 shares during the period. Wiser Advisor Group LLC purchased a new position in Mplx during the 3rd quarter worth $38,000. Prosperity Bancshares Inc bought a new stake in Mplx during the 4th quarter valued at $43,000. Finally, Axiom Investment Management LLC bought a new stake in Mplx during the 1st quarter valued at $46,000. 24.25% of the stock is owned by hedge funds and other institutional investors.

About Mplx

(Get Free Report)

MPLX LP (NYSE:MPLX) is a master limited partnership that owns and operates midstream energy infrastructure in the United States. The company provides transportation, storage and processing services for crude oil, refined products, natural gas and natural gas liquids (NGLs), supporting producers, refiners and other energy customers.

MPLX’s assets include gathering and processing systems, pipelines, storage facilities, fractionation plants, marine terminals and inland and coastal logistics operations.

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