Wall Street analysts predict that Mplx Lp (NYSE:MPLX) will announce sales of $1.75 billion for the current quarter, according to Zacks. Two analysts have made estimates for Mplx’s earnings, with the highest sales estimate coming in at $1.77 billion and the lowest estimate coming in at $1.73 billion. Mplx posted sales of $1.09 billion in the same quarter last year, which suggests a positive year over year growth rate of 60.6%. The company is expected to issue its next earnings results on Thursday, February 7th.
On average, analysts expect that Mplx will report full-year sales of $6.38 billion for the current financial year, with estimates ranging from $6.21 billion to $6.48 billion. For the next fiscal year, analysts forecast that the business will report sales of $7.14 billion, with estimates ranging from $6.95 billion to $7.32 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Mplx.
Mplx (NYSE:MPLX) last issued its earnings results on Thursday, November 1st. The pipeline company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Mplx had a return on equity of 21.03% and a net margin of 27.99%. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the prior year, the business earned $0.29 earnings per share. The company’s revenue was up 74.7% compared to the same quarter last year.
MPLX has been the subject of a number of analyst reports. Citigroup reduced their price target on Mplx from $44.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, November 29th. Zacks Investment Research raised Mplx from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Wednesday, November 28th. Bank of America upped their price target on Mplx from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, November 2nd. Goldman Sachs Group reaffirmed a “neutral” rating on shares of Mplx in a report on Tuesday, October 9th. Finally, Credit Suisse Group initiated coverage on Mplx in a report on Thursday, October 11th. They issued an “outperform” rating and a $45.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $40.08.
Institutional investors have recently made changes to their positions in the business. Belpointe Asset Management LLC acquired a new position in shares of Mplx during the third quarter valued at approximately $104,000. Stratos Wealth Partners LTD. acquired a new position in shares of Mplx during the third quarter valued at approximately $133,000. SL Advisors LLC acquired a new position in shares of Mplx during the third quarter valued at approximately $203,000. Raymond James Trust N.A. acquired a new position in shares of Mplx during the third quarter valued at approximately $229,000. Finally, Advisory Services Network LLC raised its holdings in shares of Mplx by 50.6% during the third quarter. Advisory Services Network LLC now owns 8,966 shares of the pipeline company’s stock valued at $310,000 after acquiring an additional 3,013 shares during the last quarter. 31.03% of the stock is owned by institutional investors and hedge funds.
NYSE MPLX opened at $34.10 on Wednesday. The stock has a market capitalization of $27.42 billion, a P/E ratio of 32.17, a price-to-earnings-growth ratio of 2.35 and a beta of 1.30. Mplx has a twelve month low of $31.60 and a twelve month high of $39.38. The company has a quick ratio of 0.70, a current ratio of 0.77 and a debt-to-equity ratio of 1.85.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Monday, November 5th were issued a $0.6375 dividend. This is a boost from Mplx’s previous quarterly dividend of $0.44. The ex-dividend date was Friday, November 2nd. This represents a $2.55 dividend on an annualized basis and a yield of 7.48%. Mplx’s dividend payout ratio is presently 240.57%.
MPLX LP owns, operates, develops, and acquires midstream energy infrastructure assets. It operates in two segments, Logistics and Storage, and Gathering and Processing segments. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids (NGLs); and gathering, transportation, and storage of crude oil and refined petroleum products.
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