Mplx Lp (NYSE:MPLX – Get Free Report) declared a quarterly dividend on Wednesday, January 22nd,RTT News reports. Shareholders of record on Monday, February 3rd will be paid a dividend of 0.9565 per share by the pipeline company on Friday, February 14th. This represents a $3.83 annualized dividend and a yield of 7.37%.
Mplx has raised 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 dividend payout ratio of 83.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Mplx to earn $4.29 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 89.3%.
Mplx Stock Performance
NYSE MPLX traded down $0.72 during trading hours on Wednesday, hitting $51.92. The company had a trading volume of 1,389,042 shares, compared to its average volume of 1,584,469. The business 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 PE ratio of 12.25, a price-to-earnings-growth ratio of 2.32 and a beta of 1.43. Mplx has a 1-year low of $37.04 and a 1-year high of $53.15. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99.
Insider Activity at Mplx
In related news, VP Carl Kristopher Hagedorn sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $47.24, for a total value of $188,960.00. Following the sale, the vice president now directly owns 14,750 shares of the company’s stock, valued at approximately $696,790. This trade represents a 21.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Analyst Ratings Changes
MPLX has been the subject of several recent analyst reports. UBS Group raised their target price on shares of Mplx from $51.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Wells Fargo & Company lifted their price objective on Mplx from $53.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Bank of America initiated coverage on Mplx in a research note on Thursday, October 17th. They set an “underperform” rating and a $43.00 target price for the company. Barclays upped their price objective on Mplx from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, Truist Financial raised their target price on Mplx from $48.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $49.89.
Check Out Our Latest Report on MPLX
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.
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