Mplx (NYSE:MPLX) Announces Earnings Results

by · The Markets Daily

Mplx (NYSE:MPLX – Get Free Report) released its quarterly earnings data on Tuesday. The pipeline company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.05), Briefing.com reports. Mplx had a net margin of 35.95% and a return on equity of 32.68%. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same period last year, the company earned $0.89 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis.

Mplx Stock Performance

MPLX opened at $46.42 on Thursday. The firm’s fifty day simple moving average is $44.01 and its two-hundred day simple moving average is $42.49. Mplx has a 52-week low of $35.07 and a 52-week high of $46.47. The company has a market cap of $47.38 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 1.21 and a beta of 1.37. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.41.

Mplx Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be issued a $0.9565 dividend. This represents a $3.83 annualized dividend and a yield of 8.24%. The ex-dividend date is Friday, November 8th. This is a positive change from Mplx’s previous quarterly dividend of $0.85. Mplx’s payout ratio is presently 82.52%.

Wall Street Analysts Forecast Growth

Several research firms have commented on MPLX. StockNews.com lowered shares of Mplx from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Wells Fargo & Company upped their target price on Mplx from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Royal Bank of Canada raised their target price on Mplx from $47.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Barclays boosted their price target on Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, UBS Group lifted their target price on shares of Mplx from $49.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Mplx has an average rating of “Moderate Buy” and a consensus price target of $47.67.

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Mplx Company Profile

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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.

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