Mplx (NYSE:MPLX) Price Target Raised to $55.00

Mplx (NYSE:MPLX) had its price target boosted by Truist Financial from $48.00 to $55.00 in a research report report published on Tuesday,Benzinga reports. They currently have a buy rating on the pipeline company’s stock.

MPLX has been the subject of a number of other reports. Royal Bank of Canada upped their price objective on shares of Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. StockNews.com raised Mplx from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 14th. Bank of America assumed coverage on Mplx in a report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 target price for the company. Wells Fargo & Company upped their target price on Mplx from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, UBS Group upped their target price on Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.44.

Mplx Trading Up 2.5 %

NYSE:MPLX opened at $49.50 on Tuesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95. The firm has a 50-day moving average of $45.02 and a 200-day moving average of $42.94. The company has a market cap of $50.43 billion, a PE ratio of 11.67, a PEG ratio of 1.30 and a beta of 1.37. Mplx has a one year low of $35.51 and a one year high of $49.54.

Mplx (NYSE:MPLX) last posted its earnings results on Tuesday, November 5th. The pipeline company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.04). The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.09 billion. Mplx had a return on equity of 32.70% and a net margin of 36.77%. The company’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.89 earnings per share. As a group, equities research analysts expect that Mplx will post 4.31 EPS for the current fiscal year.

Mplx Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a dividend of $0.9565 per share. This represents a $3.83 annualized dividend and a yield of 7.73%. This is a positive change from Mplx’s previous quarterly dividend of $0.85. The ex-dividend date was Friday, November 8th. Mplx’s dividend payout ratio is 90.33%.

Insider Buying and Selling at Mplx

In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $47.24, for a total transaction of $188,960.00. Following the sale, the vice president now owns 14,750 shares of the company’s stock, valued at approximately $696,790. This represents a 21.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Hedge Funds Weigh In On Mplx

Several hedge funds have recently bought and sold shares of MPLX. Rehmann Capital Advisory Group grew its position in Mplx by 2.1% during the third quarter. Rehmann Capital Advisory Group now owns 24,201 shares of the pipeline company’s stock worth $1,076,000 after buying an additional 500 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Mplx by 5.3% during the third quarter. Geode Capital Management LLC now owns 15,488 shares of the pipeline company’s stock worth $689,000 after purchasing an additional 785 shares in the last quarter. M&T Bank Corp bought a new position in shares of Mplx in the third quarter worth approximately $2,023,000. Duff & Phelps Investment Management Co. raised its stake in Mplx by 4.9% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,933,486 shares of the pipeline company’s stock valued at $85,963,000 after purchasing an additional 90,793 shares in the last quarter. Finally, MML Investors Services LLC lifted its position in Mplx by 387.5% during the third quarter. MML Investors Services LLC now owns 23,543 shares of the pipeline company’s stock valued at $1,047,000 after purchasing an additional 18,714 shares during the last quarter. Hedge funds and other institutional investors own 24.25% of the company’s stock.

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.