Mplx (NYSE:MPLX) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research lowered shares of Mplx (NYSE:MPLX) from a hold rating to a strong sell rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other brokerages have also weighed in on MPLX. The Goldman Sachs Group increased their target price on Mplx from $55.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Citigroup increased their target price on Mplx from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Barclays dropped their target price on Mplx from $59.00 to $58.00 and set an “overweight” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on Mplx from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 10th. Finally, Wall Street Zen lowered Mplx from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Mplx presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.70.

Mplx Trading Down 4.0%

NYSE MPLX opened at $54.02 on Thursday. The company has a market cap of $54.84 billion, a P/E ratio of 11.69, a P/E/G ratio of 5.26 and a beta of 0.49. Mplx has a 12 month low of $47.80 and a 12 month high of $59.98. The company has a 50-day moving average of $57.03 and a 200-day moving average of $55.10. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.10 and a quick ratio of 1.18.

Mplx (NYSE:MPLX) last released its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.15). The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Mplx had a return on equity of 32.74% and a net margin of 36.38%.The firm’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.10 EPS. As a group, equities analysts predict that Mplx will post 4.33 earnings per share for the current year.

Mplx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 8th will be paid a $1.0765 dividend. This represents a $4.31 annualized dividend and a yield of 8.0%. The ex-dividend date of this dividend is Friday, May 8th. Mplx’s dividend payout ratio is currently 93.29%.

Institutional Investors Weigh In On Mplx

Several hedge funds have recently bought and sold shares of MPLX. Solstein Capital LLC purchased a new stake in shares of Mplx during the 3rd quarter worth about $25,000. Assetmark Inc. raised its stake in shares of 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 in the last quarter. EQ Wealth Advisors LLC purchased a new stake in shares of Mplx during the 4th quarter worth about $32,000. Wiser Advisor Group LLC purchased a new stake in shares of Mplx during the 3rd quarter worth about $38,000. Finally, Root Financial Partners LLC purchased a new stake in shares of Mplx during the 3rd quarter worth about $39,000. 24.25% of the stock is owned by hedge funds and other institutional investors.

About Mplx

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.