Mplx (NYSE:MPLX) PT Raised to $48.00 at Truist Financial

Mplx (NYSE:MPLX) had its price target increased by Truist Financial from $43.00 to $48.00 in a report issued on Thursday, Benzinga reports. Truist Financial currently has a buy rating on the pipeline company’s stock.

Other analysts have also issued reports about the stock. Raymond James boosted their target price on shares of Mplx from $44.00 to $45.00 and gave the company an outperform rating in a research note on Wednesday, January 31st. Royal Bank of Canada boosted their target price on shares of Mplx from $45.00 to $46.00 and gave the stock an outperform rating in a report on Wednesday, January 31st. Stifel Nicolaus upped their price objective on shares of Mplx from $45.00 to $47.00 and gave the company a buy rating in a report on Wednesday, May 1st. Barclays upped their price objective on Mplx from $40.00 to $43.00 and gave the stock an overweight rating in a research report on Friday, April 5th. Finally, UBS Group increased their price objective on Mplx from $46.00 to $49.00 and gave the company a buy rating in a research note on Friday, April 12th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $45.11.

Mplx Stock Performance

Shares of NYSE MPLX traded up $0.04 during trading on Thursday, reaching $41.16. 550,358 shares of the company traded hands, compared to its average volume of 2,170,422. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $41.60 billion, a PE ratio of 10.60 and a beta of 1.35. The firm has a 50 day simple moving average of $40.80 and a 200-day simple moving average of $38.21. Mplx has a 52-week low of $33.12 and a 52-week high of $42.90.

Mplx (NYSE:MPLX) last released its earnings results on Tuesday, April 30th. The pipeline company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.89 billion. Mplx had a return on equity of 31.70% and a net margin of 34.96%. Mplx’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.91 EPS. Equities research analysts anticipate that Mplx will post 4.06 earnings per share for the current year.

Mplx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Friday, May 3rd will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 8.26%. The ex-dividend date is Thursday, May 2nd. Mplx’s payout ratio is 87.63%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MPLX. Barclays PLC raised its holdings in shares of Mplx by 440.5% in the 3rd quarter. Barclays PLC now owns 5,649,301 shares of the pipeline company’s stock worth $200,946,000 after acquiring an additional 4,604,066 shares during the last quarter. Alps Advisors Inc. lifted its position in Mplx by 18.9% during the 3rd quarter. Alps Advisors Inc. now owns 28,771,793 shares of the pipeline company’s stock valued at $1,023,413,000 after acquiring an additional 4,579,152 shares during the period. Nomura Holdings Inc. purchased a new position in Mplx in the fourth quarter worth about $67,253,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Mplx by 18.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,309,208 shares of the pipeline company’s stock worth $224,419,000 after acquiring an additional 976,033 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Mplx by 4.0% in the third quarter. Invesco Ltd. now owns 20,917,505 shares of the pipeline company’s stock worth $744,036,000 after purchasing an additional 809,273 shares during the period. 24.25% of the stock is currently owned by institutional investors and hedge funds.

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.