Wall Street brokerages expect Mplx Lp (NYSE:MPLX) to announce $0.60 earnings per share for the current quarter, Zacks reports. Two analysts have made estimates for Mplx’s earnings, with estimates ranging from $0.56 to $0.66. Mplx posted earnings of $0.55 per share during the same quarter last year, which would suggest a positive year over year growth rate of 9.1%. The firm is expected to report its next earnings report before the market opens on Thursday, August 1st.
According to Zacks, analysts expect that Mplx will report full-year earnings of $2.83 per share for the current year, with EPS estimates ranging from $2.74 to $2.92. For the next fiscal year, analysts forecast that the company will report earnings of $2.89 per share, with EPS estimates ranging from $2.85 to $2.93. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that follow Mplx.
Mplx (NYSE:MPLX) last announced its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.02. Mplx had a net margin of 28.57% and a return on equity of 27.44%. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the previous year, the company earned $0.61 earnings per share. Mplx’s quarterly revenue was up 15.9% compared to the same quarter last year.
A number of equities research analysts recently weighed in on the stock. Wells Fargo & Co reduced their price target on shares of Teva Pharmaceutical Industries from $18.00 to $17.00 and set a “market perform” rating for the company in a research report on Thursday, May 9th. BMO Capital Markets assumed coverage on shares of Mplx in a research report on Monday, June 10th. They issued a “market perform” rating and a $35.00 price target for the company. ValuEngine raised shares of United States Steel from a “strong sell” rating to a “sell” rating in a research report on Wednesday. Zacks Investment Research raised shares of Garrett Motion from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Finally, Raymond James assumed coverage on shares of Solar Capital in a report on Tuesday, April 16th. They issued an “outperform” rating and a $22.50 target price for the company. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $38.80.
MPLX traded down $0.50 on Friday, reaching $30.29. The company had a trading volume of 190,613 shares, compared to its average volume of 1,652,693. Mplx has a 1 year low of $28.32 and a 1 year high of $39.01. The company has a market cap of $24.08 billion, a PE ratio of 13.23 and a beta of 1.16. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.93 and a quick ratio of 0.85. The stock’s 50-day simple moving average is $31.78.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Monday, August 5th will be issued a $0.668 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 8.82%. This is a boost from Mplx’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Friday, August 2nd. Mplx’s dividend payout ratio is presently 114.85%.
Several large investors have recently made changes to their positions in MPLX. Toth Financial Advisory Corp bought a new stake in Mplx in the 1st quarter valued at about $26,000. Sonora Investment Management LLC acquired a new position in shares of Mplx in the second quarter worth approximately $32,000. Lindbrook Capital LLC lifted its stake in Mplx by 90.3% in the second quarter. Lindbrook Capital LLC now owns 1,275 shares of the pipeline company’s stock valued at $41,000 after buying an additional 605 shares during the period. Legacy Advisors LLC acquired a new position in Mplx in the first quarter valued at approximately $44,000. Finally, Executive Wealth Management LLC bought a new stake in shares of Mplx during the fourth quarter valued at approximately $46,000. 30.75% of the stock is owned by institutional investors and hedge funds.
Mplx Company Profile
MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. The company also provides fuels distribution services. 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; and transportation, storage, and distribution of crude oil and refined petroleum products.
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