MPLX LP (MPLX) Given Buy Rating at Royal Bank Of Canada
Other research analysts also recently issued research reports about the company. TheStreet upgraded MPLX from a c rating to a b- rating in a research note on Friday, April 28th. Scotiabank set a $44.00 target price on MPLX and gave the company a buy rating in a research note on Saturday, July 22nd. Guggenheim started coverage on MPLX in a research note on Thursday, July 20th. They issued a buy rating and a $40.00 target price on the stock. BidaskClub upgraded MPLX from a hold rating to a buy rating in a research note on Sunday, July 16th. Finally, Jefferies Group LLC restated a buy rating and issued a $44.00 target price on shares of MPLX in a research note on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $42.55.
MPLX (NYSE MPLX) opened at 36.35 on Friday. The firm has a market capitalization of $12.99 billion, a price-to-earnings ratio of 53.14 and a beta of 1.34. MPLX has a 1-year low of $30.09 and a 1-year high of $39.43. The stock has a 50 day moving average price of $34.07 and a 200 day moving average price of $35.64.
MPLX (NYSE:MPLX) last issued its earnings results on Thursday, July 27th. The pipeline company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.10. MPLX had a return on equity of 6.10% and a net margin of 19.07%. The firm had revenue of $916 million for the quarter, compared to the consensus estimate of $884.70 million. During the same quarter in the previous year, the company posted ($0.11) earnings per share. The business’s quarterly revenue was up 31.2% compared to the same quarter last year. Analysts predict that MPLX will post $0.87 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be paid a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a dividend yield of 6.19%. The ex-dividend date is Thursday, August 3rd. This is an increase from MPLX’s previous quarterly dividend of $0.44. MPLX’s dividend payout ratio is 260.24%.
In other MPLX news, CEO Gary R. Heminger bought 9,000 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The stock was purchased at an average price of $33.26 per share, for a total transaction of $299,340.00. Following the purchase, the chief executive officer now directly owns 167,896 shares in the company, valued at $5,584,220.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Hedge funds have recently made changes to their positions in the stock. Kayne Anderson Capital Advisors LP increased its stake in shares of MPLX by 4.5% in the first quarter. Kayne Anderson Capital Advisors LP now owns 12,607,101 shares of the pipeline company’s stock valued at $454,846,000 after buying an additional 539,300 shares during the last quarter. Atlantic Trust Group LLC increased its stake in shares of MPLX by 5.8% in the first quarter. Atlantic Trust Group LLC now owns 6,565,477 shares of the pipeline company’s stock valued at $236,883,000 after buying an additional 362,343 shares during the last quarter. Bank of Montreal Can increased its stake in shares of MPLX by 36.3% in the second quarter. Bank of Montreal Can now owns 6,234,136 shares of the pipeline company’s stock valued at $208,220,000 after buying an additional 1,661,578 shares during the last quarter. Bank of America Corp DE increased its stake in shares of MPLX by 130.8% in the first quarter. Bank of America Corp DE now owns 6,196,080 shares of the pipeline company’s stock valued at $223,555,000 after buying an additional 3,511,264 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of MPLX by 9.5% in the first quarter. JPMorgan Chase & Co. now owns 4,915,070 shares of the pipeline company’s stock valued at $177,336,000 after buying an additional 427,617 shares during the last quarter. Hedge funds and other institutional investors own 69.57% of the company’s stock.
MPLX LP is a master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets. The Company is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids (NGLs), and the gathering, transportation and storage of crude oil and refined petroleum products.
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