StockNews.com Downgrades Mplx (NYSE:MPLX) to Buy

StockNews.com downgraded shares of Mplx (NYSE:MPLX) from a strong-buy rating to a buy rating in a research report report published on Monday.

Several other equities analysts have also recently commented on MPLX. Barclays boosted their price target on shares of Mplx from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Truist Financial lifted their price target on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Royal Bank of Canada increased their price objective on Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Bank of America began coverage on shares of Mplx in a report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price objective for the company. Finally, Wells Fargo & Company increased their price target on Mplx from $53.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to MarketBeat, Mplx has an average rating of “Moderate Buy” and a consensus target price of $49.89.

Mplx Trading Up 0.4 %

Shares of MPLX opened at $51.77 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $52.74 billion, a P/E ratio of 12.21, a P/E/G ratio of 2.34 and a beta of 1.43. Mplx has a 1-year low of $37.04 and a 1-year high of $53.15. The business’s 50-day moving average price is $49.17 and its 200 day moving average price is $45.58.

Mplx (NYSE:MPLX) last released its earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). Mplx had a net margin of 36.77% and a return on equity of 32.70%. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the previous year, the company earned $0.89 EPS. Mplx’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts expect that Mplx will post 4.18 earnings per share for the current year.

Mplx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be paid a $0.9565 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.83 dividend on an annualized basis and a yield of 7.39%. Mplx’s payout ratio is currently 90.33%.

Insiders Place Their Bets

In other news, VP Carl Kristopher Hagedorn sold 4,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $47.24, for a total value of $188,960.00. Following the sale, the vice president now owns 14,750 shares of the company’s stock, valued at approximately $696,790. This represents a 21.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Hedge Funds Weigh In On Mplx

Several institutional investors have recently added to or reduced their stakes in the company. Cedar Wealth Management LLC acquired a new stake in shares of Mplx during the third quarter worth approximately $51,000. Geneos Wealth Management Inc. grew its position in Mplx by 56.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,135 shares of the pipeline company’s stock worth $54,000 after acquiring an additional 409 shares during the last quarter. Crewe Advisors LLC acquired a new stake in Mplx during the 4th quarter valued at $98,000. Farther Finance Advisors LLC raised its position in Mplx by 393.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,451 shares of the pipeline company’s stock valued at $153,000 after purchasing an additional 2,751 shares during the last quarter. Finally, Archford Capital Strategies LLC acquired a new position in Mplx in the fourth quarter worth $200,000. 24.25% of the stock is owned by institutional investors.

Mplx Company Profile

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Logistics and Storage (L&S) and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.