Mplx Lp (NYSE:MPLX) Declares Quarterly Dividend of $0.96

Mplx Lp (NYSE:MPLX) declared a quarterly dividend on Wednesday, January 22nd,RTT News reports. Shareholders of record on Monday, February 3rd will be given a dividend of 0.9565 per share by the pipeline company on Friday, February 14th. This represents a $3.83 dividend on an annualized basis and a yield of 7.37%.

Mplx has increased its dividend by an average of 8.2% per year over the last three years and has raised its dividend annually for the last 11 consecutive years. Mplx has a payout ratio of 83.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Mplx to earn $4.32 per share next year, which means the company should continue to be able to cover its $3.83 annual dividend with an expected future payout ratio of 88.7%.

Mplx Trading Down 1.4 %

Mplx stock opened at $51.92 on Thursday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95. The firm has a 50-day moving average of $48.69 and a 200-day moving average of $45.24. The company has a market cap of $52.90 billion, a price-to-earnings ratio of 12.25, a P/E/G ratio of 2.37 and a beta of 1.43. Mplx has a one year low of $37.04 and a one year high of $53.15.

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. StockNews.com raised shares of Mplx from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Royal Bank of Canada increased their price target on shares of Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Wells Fargo & Company boosted their price objective on Mplx from $53.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Barclays increased their target price on Mplx from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, Truist Financial upped their price objective on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mplx currently has an average rating of “Moderate Buy” and a consensus price target of $49.89.

Insider Transactions at Mplx

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

About Mplx

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.