Mplx (NYSE:MPLX) Releases Earnings Results, Beats Expectations By $0.07 EPS

Mplx (NYSE:MPLX) posted its quarterly earnings data on Tuesday. The pipeline company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.07, FiscalAI reports. Mplx had a return on equity of 34.14% and a net margin of 37.61%.The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.23 billion.

Mplx Trading Down 1.0%

Shares of NYSE:MPLX opened at $55.32 on Tuesday. The business’s 50 day simple moving average is $54.51 and its 200 day simple moving average is $52.06. Mplx has a 1 year low of $44.60 and a 1 year high of $57.15. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.31 and a quick ratio of 1.26. The company has a market capitalization of $56.26 billion, a P/E ratio of 11.72, a P/E/G ratio of 5.06 and a beta of 0.57.

Mplx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Monday, February 9th will be given a dividend of $1.0765 per share. The ex-dividend date of this dividend is Monday, February 9th. This represents a $4.31 dividend on an annualized basis and a yield of 7.8%. Mplx’s dividend payout ratio is currently 91.31%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MPLX shares. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $57.00 price target on shares of Mplx in a research report on Monday, December 1st. Raymond James Financial lowered Mplx from an “outperform” rating to a “market perform” rating in a research report on Monday, January 5th. Weiss Ratings reissued a “buy (a-)” rating on shares of Mplx in a research report on Monday, December 29th. Zacks Research upgraded Mplx from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Finally, Morgan Stanley boosted their target price on Mplx from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $59.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC lifted its position in Mplx by 4.1% during the first quarter. NewEdge Advisors LLC now owns 24,049 shares of the pipeline company’s stock worth $1,287,000 after purchasing an additional 939 shares during the period. Geode Capital Management LLC boosted its position in shares of Mplx by 6.6% during the 2nd quarter. Geode Capital Management LLC now owns 16,557 shares of the pipeline company’s stock worth $853,000 after acquiring an additional 1,021 shares in the last quarter. Guggenheim Capital LLC increased its stake in Mplx by 5.4% in the second quarter. Guggenheim Capital LLC now owns 19,139 shares of the pipeline company’s stock valued at $986,000 after acquiring an additional 972 shares during the last quarter. Cerity Partners LLC raised its position in Mplx by 12.5% during the second quarter. Cerity Partners LLC now owns 53,113 shares of the pipeline company’s stock valued at $2,736,000 after purchasing an additional 5,916 shares in the last quarter. Finally, Glenview Trust co lifted its stake in Mplx by 62.5% during the second quarter. Glenview Trust co now owns 6,500 shares of the pipeline company’s stock worth $335,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors own 24.25% of the company’s stock.

About Mplx

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.