Mplx (NYSE:MPLX) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Mplx (NYSE:MPLX) released its quarterly earnings results on Tuesday. The pipeline company reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02, Zacks reports. The firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.35 billion. Mplx had a return on equity of 32.83% and a net margin of 35.75%.

Mplx Trading Down 2.2%

NYSE:MPLX opened at $58.84 on Tuesday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.83 and a current ratio of 0.89. Mplx has a one year low of $50.22 and a one year high of $60.95. The business’s 50-day simple moving average is $58.39 and its 200 day simple moving average is $57.24. The stock has a market cap of $59.65 billion, a price-to-earnings ratio of 12.65, a price-to-earnings-growth ratio of 5.63 and a beta of 0.48.

Mplx Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, November 6th will be paid a $1.2111 dividend. This represents a $4.84 annualized dividend and a dividend yield of 8.2%. This is a positive change from Mplx’s previous quarterly dividend of $1.0765. The ex-dividend date is Friday, November 6th. Mplx’s payout ratio is presently 104.09%.

Wall Street Analyst Weigh In

MPLX has been the subject of several recent research reports. Weiss Ratings raised shares of Mplx from a “buy (a-)” rating to a “buy (a)” rating in a research report on Friday. Stifel Nicolaus started coverage on shares of Mplx in a research note on Thursday, September 10th. They set a “hold” rating and a $65.00 price objective on the stock. Royal Bank Of Canada boosted their target price on shares of Mplx from $60.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, August 21st. Morgan Stanley decreased their target price on shares of Mplx from $66.00 to $64.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 13th. Finally, Wells Fargo & Company raised their price target on shares of Mplx from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.80.

Mplx Company Profile

MPLX LP (NYSE:MPLX) is a master limited partnership that owns and operates midstream energy infrastructure in the United States. The company provides services for the gathering, processing, transportation, storage and marketing of crude oil, natural gas and natural gas liquids (NGLs).

MPLX’s assets include crude oil and refined-products pipelines, natural gas gathering and processing systems, NGL fractionation facilities, storage terminals and marine transportation infrastructure. Through its logistics and storage operations, the company supports the movement of hydrocarbons from producing regions to refineries, export facilities and other domestic markets.

The company serves several major U.S.