Mplx (NYSE:MPLX) Posts Earnings Results, Beats Expectations By $0.03 EPS

Mplx (NYSE:MPLX) announced its quarterly earnings results on Tuesday. The pipeline company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.03, Zacks reports. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.07 billion. Mplx had a net margin of 36.77% and a return on equity of 32.70%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.10 earnings per share.

Mplx Stock Up 0.7 %

Shares of Mplx stock opened at $53.00 on Wednesday. The firm’s 50-day moving average is $49.49 and its two-hundred day moving average is $45.91. Mplx has a 1 year low of $37.44 and a 1 year high of $53.55. The stock has a market cap of $54.00 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 2.33 and a beta of 1.42. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.95.

Mplx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be given a dividend of $0.9565 per share. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.22%. The ex-dividend date of this dividend is Monday, February 3rd. Mplx’s payout ratio is 90.09%.

Insider Transactions at Mplx

In other news, VP Carl Kristopher Hagedorn sold 4,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $47.24, for a total value of $188,960.00. Following the completion of the transaction, the vice president now directly owns 14,750 shares in the company, valued at $696,790. This trade represents a 21.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MPLX shares. Royal Bank of Canada boosted their target price on shares of Mplx from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. StockNews.com downgraded Mplx from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Truist Financial lifted their price target on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Barclays lifted their price target on shares of Mplx from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, Wells Fargo & Company increased 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. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.50.

Mplx Company Profile

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.