Mplx (NYSE:MPLX) Given New $55.00 Price Target at Truist Financial

Mplx (NYSE:MPLX) had its price objective upped by Truist Financial from $48.00 to $55.00 in a report published on Tuesday,Benzinga reports. The firm currently has a buy rating on the pipeline company’s stock.

Other equities research analysts also recently issued reports about the stock. Barclays increased their price objective on shares of Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. UBS Group increased their target price on shares of Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Bank of America initiated coverage on shares of Mplx in a report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 target price for the company. StockNews.com raised shares of Mplx from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 14th. Finally, Royal Bank of Canada increased their target price on shares of Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Monday. One 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 company. Based on data from MarketBeat, Mplx currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.44.

Mplx Trading Up 0.4 %

Shares of Mplx stock opened at $47.66 on Tuesday. The company has a market capitalization of $48.56 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 1.28 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 1.40. Mplx has a 12-month low of $35.51 and a 12-month high of $47.71. The firm’s 50-day moving average price is $44.71 and its two-hundred day moving average price is $42.82.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.09 billion. Mplx had a return on equity of 32.70% and a net margin of 36.77%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.89 earnings per share. On average, analysts forecast that Mplx will post 4.31 earnings per share for the current fiscal year.

Mplx Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were issued a $0.9565 dividend. This represents a $3.83 dividend on an annualized basis and a yield of 8.03%. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from Mplx’s previous quarterly dividend of $0.85. Mplx’s dividend payout ratio (DPR) is 90.33%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MPLX. Crewe Advisors LLC bought a new position in Mplx during the 1st quarter worth approximately $41,000. CWM LLC raised its holdings in Mplx by 73.3% during the 2nd quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock worth $45,000 after purchasing an additional 451 shares during the last quarter. Summit Securities Group LLC raised its holdings in Mplx by 450.0% during the 2nd quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company’s stock worth $47,000 after purchasing an additional 900 shares during the last quarter. Cedar Wealth Management LLC bought a new position in Mplx during the 3rd quarter worth approximately $51,000. Finally, Redwood Wealth Management Group LLC bought a new position in Mplx during the 2nd quarter worth approximately $67,000. Institutional investors own 24.25% of the company’s stock.

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.