Mitsubishi UFJ Financial Group Equities Analysts Increase Earnings Estimates for Mplx Lp (MPLX)

Mplx Lp (NYSE:MPLX) – Equities research analysts at Mitsubishi UFJ Financial Group increased their Q1 2019 EPS estimates for Mplx in a report released on Wednesday, December 5th. Mitsubishi UFJ Financial Group analyst B. Blaschke now expects that the pipeline company will post earnings of $0.69 per share for the quarter, up from their prior forecast of $0.68. Mitsubishi UFJ Financial Group also issued estimates for Mplx’s Q2 2019 earnings at $0.71 EPS, Q3 2019 earnings at $0.73 EPS, Q4 2019 earnings at $0.74 EPS and FY2019 earnings at $2.86 EPS.

Mplx (NYSE:MPLX) last announced its earnings results on Thursday, November 1st. The pipeline company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.62 billion. Mplx had a net margin of 27.99% and a return on equity of 21.03%. The firm’s quarterly revenue was up 74.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.29 earnings per share.



Several other brokerages have also issued reports on MPLX. Bank of America restated a “neutral” rating and set a $41.00 target price (up from $36.00) on shares of Mplx in a research report on Thursday. Zacks Investment Research raised shares of Mplx from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Wednesday, November 28th. Credit Suisse Group assumed coverage on shares of Mplx in a report on Thursday, October 11th. They issued an “outperform” rating and a $45.00 target price on the stock. Goldman Sachs Group downgraded shares of Mplx from a “buy” rating to a “neutral” rating and set a $35.00 target price on the stock. in a report on Monday, October 8th. Finally, Citigroup decreased their price target on shares of Mplx from $44.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, November 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. Mplx presently has an average rating of “Buy” and an average target price of $40.08.

Shares of NYSE MPLX opened at $34.53 on Friday. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.77 and a quick ratio of 0.70. The company has a market cap of $27.19 billion, a P/E ratio of 32.58, a price-to-earnings-growth ratio of 2.34 and a beta of 1.30. Mplx has a 12-month low of $31.60 and a 12-month high of $39.38.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC lifted its stake in Mplx by 2.6% in the second quarter. Chicago Partners Investment Group LLC now owns 288,642 shares of the pipeline company’s stock valued at $9,854,000 after buying an additional 7,200 shares during the last quarter. Chickasaw Capital Management LLC grew its holdings in Mplx by 74.1% during the third quarter. Chickasaw Capital Management LLC now owns 5,708,264 shares of the pipeline company’s stock worth $197,963,000 after acquiring an additional 2,430,097 shares during the period. US Bancorp DE grew its holdings in Mplx by 4.2% during the second quarter. US Bancorp DE now owns 71,341 shares of the pipeline company’s stock worth $2,436,000 after acquiring an additional 2,865 shares during the period. Raymond James & Associates grew its holdings in Mplx by 8.0% in the second quarter. Raymond James & Associates now owns 509,135 shares of the pipeline company’s stock valued at $17,382,000 after purchasing an additional 37,740 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. grew its holdings in Mplx by 4.7% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 28,187,706 shares of the pipeline company’s stock valued at $977,550,000 after purchasing an additional 1,269,600 shares during the last quarter. 31.03% of the stock is owned by institutional investors.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Monday, November 5th were given a dividend of $0.6375 per share. This represents a $2.55 dividend on an annualized basis and a dividend yield of 7.38%. This is an increase from Mplx’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Friday, November 2nd. Mplx’s dividend payout ratio (DPR) is presently 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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Earnings History and Estimates for Mplx (NYSE:MPLX)

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