Analysts Set Mplx Lp (NYSE:MPLX) Target Price at $33.08

Shares of Mplx Lp (NYSE:MPLX) have been assigned an average rating of “Buy” from the fifteen brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $32.75.

A number of brokerages have weighed in on MPLX. Royal Bank of Canada set a $33.00 target price on Mplx and gave the stock a “buy” rating in a research report on Friday, November 1st. SunTrust Banks began coverage on Mplx in a research report on Friday, December 13th. They issued a “hold” rating and a $28.00 target price for the company. ValuEngine raised Mplx from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. TheStreet lowered Mplx from a “b-” rating to a “c+” rating in a research report on Thursday, October 24th. Finally, Morgan Stanley initiated coverage on Mplx in a research report on Monday, January 6th. They issued an “overweight” rating and a $30.00 target price for the company.

NYSE:MPLX traded up $0.21 during mid-day trading on Friday, reaching $24.02. The company’s stock had a trading volume of 2,108,826 shares, compared to its average volume of 3,863,055. Mplx has a 12-month low of $22.24 and a 12-month high of $35.24. The firm’s fifty day moving average price is $25.14 and its two-hundred day moving average price is $26.32. The company has a current ratio of 0.65, a quick ratio of 0.60 and a debt-to-equity ratio of 1.09. The stock has a market cap of $25.20 billion, a P/E ratio of 20.18 and a beta of 1.16.

Mplx (NYSE:MPLX) last issued its earnings results on Wednesday, January 29th. The pipeline company reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.06). Mplx had a return on equity of 21.11% and a net margin of 13.12%. The business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same period last year, the firm posted $0.52 EPS. Mplx’s quarterly revenue was up .9% compared to the same quarter last year. Analysts predict that Mplx will post 2.47 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th will be given a dividend of $0.688 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.75 annualized dividend and a dividend yield of 11.46%. This is a positive change from Mplx’s previous quarterly dividend of $0.68. Mplx’s dividend payout ratio is presently 118.53%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its stake in Mplx by 10.1% in the 4th quarter. Advisors Asset Management Inc. now owns 95,738 shares of the pipeline company’s stock worth $2,437,000 after purchasing an additional 8,795 shares during the period. Castleark Management LLC boosted its position in shares of Mplx by 72.8% during the 4th quarter. Castleark Management LLC now owns 351,039 shares of the pipeline company’s stock valued at $8,937,000 after acquiring an additional 147,875 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Mplx by 151.7% during the 4th quarter. Jane Street Group LLC now owns 168,064 shares of the pipeline company’s stock valued at $4,279,000 after acquiring an additional 101,290 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in shares of Mplx by 13.5% during the 4th quarter. Westwood Holdings Group Inc. now owns 589,112 shares of the pipeline company’s stock valued at $14,999,000 after acquiring an additional 69,966 shares during the last quarter. Finally, Incline Global Management LLC bought a new position in shares of Mplx during the 4th quarter valued at approximately $2,241,000. 31.57% of the stock is owned by hedge funds and other institutional investors.

Mplx Company Profile

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. The company also provides fuels distribution services. 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; and transportation, storage, and distribution of crude oil and refined petroleum products.

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Analyst Recommendations for Mplx (NYSE:MPLX)

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