Mplx (NYSE:MPLX) Given New $53.00 Price Target at Wells Fargo & Company

Mplx (NYSE:MPLX) had its price target boosted by Wells Fargo & Company from $50.00 to $53.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an overweight rating on the pipeline company’s stock.

Other equities research analysts have also recently issued reports about the company. UBS Group lifted their price objective on Mplx from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Barclays boosted their target price on Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Bank of America initiated coverage on Mplx in a report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price target on the stock. Royal Bank of Canada boosted their price target on Mplx from $47.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, StockNews.com lowered Mplx from a “strong-buy” rating to a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Mplx has a consensus rating of “Moderate Buy” and an average price target of $48.00.

Mplx Trading Down 2.3 %

Shares of MPLX stock traded down $1.07 on Thursday, reaching $45.98. 2,083,320 shares of the stock were exchanged, compared to its average volume of 1,829,378. The stock has a market cap of $46.93 billion, a PE ratio of 11.08, a P/E/G ratio of 1.21 and a beta of 1.37. Mplx has a one year low of $35.07 and a one year high of $47.62. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.99 and a quick ratio of 0.95. The stock has a 50 day moving average price of $44.01 and a 200 day moving average price of $42.49.

Mplx (NYSE:MPLX) last released its earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). Mplx had a return on equity of 32.68% and a net margin of 35.95%. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the previous year, the firm earned $0.89 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts forecast that Mplx will post 4.3 EPS for the current fiscal year.

Mplx Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be issued a $0.9565 dividend. This represents a $3.83 dividend on an annualized basis and a dividend yield of 8.32%. The ex-dividend date is Friday, November 8th. This is an increase from Mplx’s previous quarterly dividend of $0.85. Mplx’s dividend payout ratio (DPR) is currently 90.09%.

Institutional Investors Weigh In On Mplx

A number of large investors have recently modified their holdings of the business. Crewe Advisors LLC bought a new position in shares of Mplx in the 1st quarter valued at $41,000. CWM LLC lifted its stake in shares of Mplx by 73.3% in the 2nd quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock valued at $45,000 after acquiring an additional 451 shares during the last quarter. Summit Securities Group LLC raised its position in Mplx by 450.0% during the 2nd quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company’s stock worth $47,000 after purchasing an additional 900 shares during the last quarter. Redwood Wealth Management Group LLC bought a new position in Mplx during the 2nd quarter worth $67,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Mplx during the 2nd quarter worth $88,000. Institutional investors and hedge funds own 24.25% of the company’s stock.

About Mplx

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.