US Capital Advisors Brokers Lift Earnings Estimates for Mplx

Mplx Lp (NYSE:MPLX) – Equities research analysts at US Capital Advisors boosted their FY2024 earnings per share (EPS) estimates for Mplx in a research note issued on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now expects that the pipeline company will earn $4.17 per share for the year, up from their previous estimate of $4.16. The consensus estimate for Mplx’s current full-year earnings is $4.26 per share.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com cut shares of Mplx from a “strong-buy” rating to a “buy” rating in a report on Friday, November 22nd. Royal Bank of Canada upped their price target on Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Truist Financial boosted their price objective on shares of Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Wells Fargo & Company increased their target price on shares of Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Barclays boosted their price target on shares of Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to MarketBeat, Mplx presently has an average rating of “Moderate Buy” and a consensus price target of $49.44.

Mplx Price Performance

MPLX opened at $50.53 on Thursday. The company has a market capitalization of $51.48 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 2.87 and a beta of 1.37. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40. The firm has a 50-day moving average price of $45.50 and a 200-day moving average price of $43.18. Mplx has a twelve month low of $35.51 and a twelve month high of $50.73.

Mplx (NYSE:MPLX) last issued its earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.04). Mplx had a net margin of 36.77% and a return on equity of 32.70%. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the previous year, the firm earned $0.89 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year.

Mplx Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a dividend of $0.9565 per share. This is an increase from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.57%. The ex-dividend date of this dividend was Friday, November 8th. Mplx’s payout ratio is currently 90.33%.

Insider Buying and Selling

In other Mplx news, VP Carl Kristopher Hagedorn sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $47.24, for a total value of $188,960.00. Following the completion of the sale, the vice president now owns 14,750 shares of the company’s stock, valued at $696,790. This represents a 21.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Investors Weigh In On Mplx

A number of hedge funds have recently made changes to their positions in MPLX. CWM LLC raised its position in Mplx by 73.3% in the 2nd quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock worth $45,000 after purchasing an additional 451 shares during the period. Summit Securities Group LLC increased its holdings in shares of Mplx by 450.0% in the second quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company’s stock worth $47,000 after buying an additional 900 shares during the period. Cedar Wealth Management LLC bought a new stake in shares of Mplx in the 3rd quarter valued at about $51,000. Redwood Wealth Management Group LLC purchased a new stake in Mplx during the 2nd quarter valued at about $67,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Mplx during the 2nd quarter valued at about $88,000. 24.25% of the stock is currently owned by 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.