Mplx (NYSE:MPLX) Hits New 12-Month High at $43.00

Mplx Lp (NYSE:MPLX)’s stock price hit a new 52-week high on Monday . The stock traded as high as $43.00 and last traded at $42.92, with a volume of 114230 shares traded. The stock had previously closed at $42.59.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Mplx from $45.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Barclays lifted their target price on shares of Mplx from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Stifel Nicolaus increased their price target on shares of Mplx from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. UBS Group lifted their price objective on Mplx from $46.00 to $49.00 and gave the company a “buy” rating in a report on Friday, April 12th. Finally, Truist Financial increased their target price on Mplx from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.11.

Mplx Price Performance

The stock has a fifty day moving average of $41.16 and a 200-day moving average of $39.66. The firm has a market capitalization of $43.42 billion, a P/E ratio of 10.98, a PEG ratio of 2.13 and a beta of 1.37. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 1.44.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, April 30th. The pipeline company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). Mplx had a net margin of 34.96% and a return on equity of 31.70%. The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the previous year, the business posted $0.91 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. Equities analysts predict that Mplx Lp will post 4.01 EPS for the current fiscal year.

Mplx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Friday, May 3rd were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.96%. The ex-dividend date was Thursday, May 2nd. Mplx’s dividend payout ratio (DPR) is 87.63%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. NBW Capital LLC increased its stake in Mplx by 2.1% in the first quarter. NBW Capital LLC now owns 277,436 shares of the pipeline company’s stock valued at $11,530,000 after purchasing an additional 5,575 shares in the last quarter. Granite Group Advisors LLC increased its position in shares of Mplx by 3.6% in the 1st quarter. Granite Group Advisors LLC now owns 12,329 shares of the pipeline company’s stock valued at $512,000 after buying an additional 424 shares in the last quarter. Pathway Financial Advisers LLC acquired a new stake in Mplx during the 1st quarter worth $885,000. Cetera Advisors LLC lifted its holdings in Mplx by 152.0% during the first quarter. Cetera Advisors LLC now owns 34,462 shares of the pipeline company’s stock worth $1,432,000 after acquiring an additional 20,788 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in Mplx by 486.2% in the first quarter. Cetera Investment Advisers now owns 133,685 shares of the pipeline company’s stock valued at $5,556,000 after acquiring an additional 110,880 shares during the period. 24.25% of the stock is currently owned by institutional investors.

Mplx Company Profile

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.