Mplx (NYSE:MPLX) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Mplx (NYSE:MPLX) posted its quarterly earnings results on Tuesday. The pipeline company reported $1.01 earnings per share 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 firm 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 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis.

Mplx Stock Up 1.4 %

Mplx stock traded up $0.63 during mid-day trading on Wednesday, reaching $46.01. 728,639 shares of the company’s stock were exchanged, compared to its average volume of 1,816,277. Mplx has a twelve month low of $35.07 and a twelve month high of $46.31. The company has a fifty day moving average of $43.92 and a 200-day moving average of $42.46. The company has a market cap of $46.96 billion, a P/E ratio of 11.00, a P/E/G 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 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 dividend of $0.9565 per share. The ex-dividend date is Friday, November 8th. This is a positive change from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 dividend on an annualized basis and a yield of 8.32%. Mplx’s dividend payout ratio is 82.52%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MPLX shares. Wells Fargo & Company increased their price target on shares of Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Royal Bank of Canada increased their price objective on shares of Mplx from $47.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Bank of America started coverage on shares of Mplx in a research report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price objective for the company. UBS Group increased their price objective on shares of Mplx from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, StockNews.com raised shares of Mplx from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.67.

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.