Mplx (NYSE:MPLX) Issues Quarterly Earnings Results

Mplx (NYSE:MPLX) announced 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. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.09 billion. Mplx had a net margin of 35.95% and a return on equity of 32.68%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.89 EPS.

Mplx Stock Up 1.7 %

Mplx stock traded up $0.77 during midday trading on Wednesday, hitting $46.15. 1,047,286 shares of the company’s stock were exchanged, compared to its average volume of 1,817,760. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.95 and a current ratio of 0.99. The firm has a 50-day moving average of $43.92 and a two-hundred day moving average of $42.46. Mplx has a 12 month low of $35.07 and a 12 month high of $46.31. The company has a market cap of $47.10 billion, a PE ratio of 11.00, a P/E/G ratio of 1.21 and a beta of 1.37.

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 given a dividend of $0.9565 per share. This represents a $3.83 annualized dividend and a dividend yield of 8.29%. The ex-dividend date of this dividend is Friday, November 8th. This is a positive change from Mplx’s previous quarterly dividend of $0.85. Mplx’s payout ratio is 82.52%.

Wall Street Analysts Forecast Growth

MPLX has been the subject of several research reports. Barclays upped their price objective on shares of Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Royal Bank of Canada boosted their price objective on shares of Mplx from $47.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company boosted their price objective on shares of Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. UBS Group boosted their target price on shares of Mplx from $49.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Bank of America assumed coverage on shares of Mplx in a research report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.