Mplx (NYSE:MPLX) Price Target Raised to $48.00 at Truist Financial

Mplx (NYSE:MPLX) had its price objective raised by Truist Financial from $43.00 to $48.00 in a report published on Thursday, Benzinga reports. Truist Financial currently has a buy rating on the pipeline company’s stock.

Several other research analysts have also issued reports on MPLX. UBS Group raised their target price on shares of Mplx from $46.00 to $49.00 and gave the company a buy rating in a research note on Friday, April 12th. StockNews.com lowered shares of Mplx from a strong-buy rating to a buy rating in a research note on Wednesday. Royal Bank of Canada raised their target price on shares of Mplx from $45.00 to $46.00 and gave the company an outperform rating in a research note on Wednesday, January 31st. Stifel Nicolaus raised their target price on shares of Mplx from $45.00 to $47.00 and gave the company a buy rating in a research note on Wednesday. Finally, Barclays raised their target price on shares of Mplx from $40.00 to $43.00 and gave the company an overweight rating in a research note on Friday, April 5th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Mplx has a consensus rating of Moderate Buy and an average target price of $45.11.

Mplx Trading Up 0.0 %

MPLX traded up $0.02 during mid-day trading on Thursday, reaching $41.12. The stock had a trading volume of 1,258,763 shares, compared to its average volume of 2,418,397. The firm’s fifty day simple moving average is $40.77 and its two-hundred day simple moving average is $38.15. The stock has a market capitalization of $41.56 billion, a P/E ratio of 10.60 and a beta of 1.35. Mplx has a 52 week low of $33.12 and a 52 week high of $42.90. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.01 and a current ratio of 0.72.

Mplx (NYSE:MPLX) last posted its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.01). The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.89 billion. Mplx had a net margin of 34.96% and a return on equity of 31.70%. Mplx’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 EPS. On average, equities analysts predict that Mplx will post 4.06 EPS for the current year.

Mplx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Friday, May 3rd will be given a $0.85 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $3.40 dividend on an annualized basis and a dividend yield of 8.27%. Mplx’s dividend payout ratio is 87.63%.

Institutional Trading of Mplx

Several hedge funds have recently bought and sold shares of the stock. Wellington Shields Capital Management LLC acquired a new stake in Mplx during the 1st quarter worth approximately $249,000. GSA Capital Partners LLP acquired a new stake in Mplx during the 1st quarter worth approximately $799,000. Belfer Management LLC raised its holdings in Mplx by 4.4% during the 1st quarter. Belfer Management LLC now owns 7,733 shares of the pipeline company’s stock worth $321,000 after buying an additional 325 shares during the period. Mutual of America Capital Management LLC grew its stake in shares of Mplx by 7.0% during the 1st quarter. Mutual of America Capital Management LLC now owns 42,539 shares of the pipeline company’s stock worth $1,768,000 after acquiring an additional 2,778 shares in the last quarter. Finally, Quent Capital LLC bought a new position in shares of Mplx during the 1st quarter worth approximately $35,000. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Mplx Company Profile

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.