Q3 2024 EPS Estimates for Mplx Lp (NYSE:MPLX) Cut by US Capital Advisors

Mplx Lp (NYSE:MPLX) – US Capital Advisors dropped their Q3 2024 earnings estimates for Mplx in a report released on Tuesday, May 21st. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will post earnings per share of $1.02 for the quarter, down from their prior estimate of $1.03. The consensus estimate for Mplx’s current full-year earnings is $4.00 per share. US Capital Advisors also issued estimates for Mplx’s Q4 2024 earnings at $1.03 EPS and Q3 2025 earnings at $1.05 EPS.

Other analysts have also recently issued reports about the stock. StockNews.com cut shares of Mplx from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 10th. Truist Financial upped their price target on shares of Mplx from $43.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Royal Bank of Canada lifted their price objective on Mplx from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Raymond James upped their target price on Mplx from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Finally, Barclays lifted their price target on Mplx from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Mplx currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.11.

Mplx Trading Down 0.2 %

Mplx stock opened at $40.27 on Thursday. The stock has a 50-day moving average price of $41.09 and a 200 day moving average price of $38.66. The company has a market capitalization of $40.92 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 2.35 and a beta of 1.35. Mplx has a 52 week low of $33.12 and a 52 week high of $42.90. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 1.44.

Mplx (NYSE:MPLX) last issued its earnings results on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). The firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Mplx had a return on equity of 31.70% and a net margin of 34.96%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $0.91 EPS.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Alps Advisors Inc. lifted its holdings in Mplx by 18.9% in the third quarter. Alps Advisors Inc. now owns 28,771,793 shares of the pipeline company’s stock valued at $1,023,413,000 after acquiring an additional 4,579,152 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Mplx by 4.0% during the 3rd quarter. Invesco Ltd. now owns 20,917,505 shares of the pipeline company’s stock worth $744,036,000 after purchasing an additional 809,273 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Mplx by 2.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,463,737 shares of the pipeline company’s stock worth $237,348,000 after purchasing an additional 154,529 shares during the last quarter. UBS Group AG raised its holdings in Mplx by 12.2% in the 3rd quarter. UBS Group AG now owns 5,869,436 shares of the pipeline company’s stock valued at $208,776,000 after buying an additional 639,199 shares during the period. Finally, Barclays PLC lifted its position in Mplx by 440.5% in the third quarter. Barclays PLC now owns 5,649,301 shares of the pipeline company’s stock valued at $200,946,000 after buying an additional 4,604,066 shares during the last quarter. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Mplx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Friday, May 3rd were issued a $0.85 dividend. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $3.40 annualized dividend and a dividend yield of 8.44%. Mplx’s dividend payout ratio is presently 87.63%.

Mplx Company Profile

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. 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; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.