Equities research analysts forecast that Mplx Lp (NYSE:MPLX) will announce earnings per share (EPS) of $0.65 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Mplx’s earnings, with the lowest EPS estimate coming in at $0.56 and the highest estimate coming in at $0.72. Mplx posted earnings of $0.31 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 109.7%. The firm is expected to issue its next earnings results on Thursday, February 7th.
On average, analysts expect that Mplx will report full-year earnings of $2.44 per share for the current year, with EPS estimates ranging from $2.41 to $2.47. For the next financial year, analysts anticipate that the company will post earnings of $2.60 per share, with EPS estimates ranging from $2.36 to $2.86. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Mplx.
Mplx (NYSE:MPLX) last issued its earnings results on Thursday, November 1st. The pipeline company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.04. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.62 billion. Mplx had a return on equity of 21.03% and a net margin of 27.99%. Mplx’s revenue for the quarter was up 74.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.29 earnings per share.
Several analysts have issued reports on the company. Zacks Investment Research raised Mplx from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Wednesday, November 28th. Bank of America reaffirmed a “neutral” rating and issued a $41.00 target price (up previously from $36.00) on shares of Mplx in a research note on Thursday. Citigroup cut their target price on Mplx from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, November 29th. Credit Suisse Group assumed coverage on Mplx in a research note on Thursday, October 11th. They issued an “outperform” rating and a $45.00 target price for the company. Finally, Goldman Sachs Group reaffirmed a “neutral” rating on shares of Mplx in a research note on Tuesday, October 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $40.08.
Several large investors have recently added to or reduced their stakes in the company. Clearbridge Investments LLC boosted its stake in shares of Mplx by 3.5% during the third quarter. Clearbridge Investments LLC now owns 2,747,559 shares of the pipeline company’s stock valued at $95,285,000 after purchasing an additional 93,270 shares during the period. Diversified Trust Co boosted its stake in shares of Mplx by 3.8% during the third quarter. Diversified Trust Co now owns 63,078 shares of the pipeline company’s stock valued at $2,188,000 after purchasing an additional 2,291 shares during the period. Belpointe Asset Management LLC purchased a new stake in shares of Mplx during the third quarter valued at approximately $104,000. Captrust Financial Advisors boosted its stake in shares of Mplx by 963.1% during the third quarter. Captrust Financial Advisors now owns 31,203 shares of the pipeline company’s stock valued at $1,082,000 after purchasing an additional 28,268 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in shares of Mplx by 10.0% during the third quarter. Advisors Asset Management Inc. now owns 76,125 shares of the pipeline company’s stock valued at $2,640,000 after purchasing an additional 6,923 shares during the period. 31.03% of the stock is owned by hedge funds and other institutional investors.
Shares of MPLX opened at $34.10 on Monday. The company has a market capitalization of $27.42 billion, a price-to-earnings ratio of 32.17, a PEG ratio of 2.35 and a beta of 1.30. The company has a quick ratio of 0.70, a current ratio of 0.77 and a debt-to-equity ratio of 1.85. Mplx has a 1 year low of $31.60 and a 1 year high of $39.38.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Monday, November 5th were paid a dividend of $0.6375 per share. This represents a $2.55 dividend on an annualized basis and a dividend yield of 7.48%. The ex-dividend date of this dividend was Friday, November 2nd. This is a positive change from Mplx’s previous quarterly dividend of $0.44. Mplx’s dividend payout ratio is 240.57%.
Mplx Company Profile
MPLX LP owns, operates, develops, and acquires midstream energy infrastructure assets. It operates in two segments, Logistics and Storage, and Gathering and Processing segments. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids (NGLs); and gathering, transportation, and storage of crude oil and refined petroleum products.
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