Analysts predict that Mplx Lp (NYSE:MPLX) will post sales of $2.36 billion for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Mplx’s earnings. The highest sales estimate is $2.44 billion and the lowest is $2.29 billion. Mplx reported sales of $1.71 billion in the same quarter last year, which would suggest a positive year over year growth rate of 38%. The firm is expected to issue its next earnings report on Thursday, November 7th.
On average, analysts expect that Mplx will report full-year sales of $8.06 billion for the current financial year, with estimates ranging from $7.90 billion to $8.22 billion. For the next year, analysts expect that the firm will report sales of $10.20 billion, with estimates ranging from $9.83 billion to $10.57 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Mplx.
Mplx (NYSE:MPLX) last released its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.05). Mplx had a return on equity of 27.94% and a net margin of 28.78%. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the company earned $0.55 earnings per share. Mplx’s quarterly revenue was up 3.2% on a year-over-year basis.
A number of research firms have recently commented on MPLX. Zacks Investment Research cut shares of Mplx from a “hold” rating to a “sell” rating in a report on Friday, May 10th. BMO Capital Markets began coverage on shares of Mplx in a report on Monday, June 10th. They set a “market perform” rating and a $35.00 price target on the stock. Wells Fargo & Co increased their price target on shares of Mplx from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Bank of America upgraded shares of Mplx from a “neutral” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Tuesday, June 11th. Finally, ValuEngine cut shares of Mplx from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $36.70.
In other Mplx news, CEO Gary R. Heminger purchased 42,600 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average price of $27.18 per share, for a total transaction of $1,157,868.00. Following the purchase, the chief executive officer now directly owns 131,956 shares of the company’s stock, valued at approximately $3,586,564.08. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Garry L. Peiffer purchased 18,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average price of $27.15 per share, for a total transaction of $488,700.00. Following the purchase, the director now directly owns 14,302 shares in the company, valued at $388,299.30. The disclosure for this purchase can be found here. Insiders have bought a total of 79,400 shares of company stock worth $2,159,808 in the last quarter.
Several institutional investors have recently modified their holdings of the company. Comerica Securities Inc. raised its position in Mplx by 125.7% during the 4th quarter. Comerica Securities Inc. now owns 13,788 shares of the pipeline company’s stock worth $418,000 after purchasing an additional 7,678 shares during the last quarter. American Century Companies Inc. bought a new position in shares of Mplx in the 4th quarter worth about $283,000. Huntington National Bank bought a new position in shares of Mplx in the 1st quarter worth about $72,000. Raymond James Trust N.A. raised its position in shares of Mplx by 17.8% in the 1st quarter. Raymond James Trust N.A. now owns 9,247 shares of the pipeline company’s stock worth $304,000 after acquiring an additional 1,397 shares in the last quarter. Finally, Toth Financial Advisory Corp bought a new position in shares of Mplx in the 1st quarter worth about $26,000. Institutional investors and hedge funds own 30.42% of the company’s stock.
Shares of NYSE MPLX traded up $0.55 on Wednesday, reaching $27.65. 3,801,500 shares of the company’s stock traded hands, compared to its average volume of 2,025,152. Mplx has a 12 month low of $25.85 and a 12 month high of $37.73. The business’s 50 day simple moving average is $30.29 and its two-hundred day simple moving average is $32.01. The company has a market cap of $28.07 billion, a price-to-earnings ratio of 12.07 and a beta of 1.13. The company has a quick ratio of 0.68, a current ratio of 0.75 and a debt-to-equity ratio of 2.07.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Monday, August 5th were paid a dividend of $0.668 per share. This represents a $2.67 annualized dividend and a dividend yield of 9.66%. The ex-dividend date was Friday, August 2nd. This is a boost from Mplx’s previous quarterly dividend of $0.44. Mplx’s dividend payout ratio (DPR) is currently 116.59%.
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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