Mplx (NYSE:MPLX) Posts Earnings Results, Misses Expectations By $0.05 EPS

Mplx (NYSE:MPLX) released its quarterly earnings results on Tuesday. The pipeline company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 32.68% and a net margin of 35.95%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.89 EPS.

Mplx Stock Performance

MPLX stock traded up $0.73 during midday trading on Wednesday, reaching $46.11. The company had a trading volume of 993,676 shares, compared to its average volume of 1,817,510. Mplx has a fifty-two week low of $35.07 and a fifty-two week high of $46.31. The firm has a market capitalization of $47.06 billion, a PE ratio of 11.00, a P/E/G ratio of 1.21 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 1.41. The stock has a 50 day moving average price of $43.92 and a 200 day moving average price of $42.46.

Mplx Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be given a $0.9565 dividend. This is an increase from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 dividend on an annualized basis and a dividend yield of 8.30%. The ex-dividend date is Friday, November 8th. Mplx’s dividend payout ratio (DPR) is presently 82.52%.

Analyst Ratings Changes

MPLX has been the subject of a number of recent research reports. Barclays increased their price target 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. StockNews.com raised Mplx from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company increased their price target on shares of Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Bank of America assumed coverage on Mplx in a report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price target for the company. Finally, UBS Group lifted their price objective on Mplx from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned 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 $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.