Mplx (NYSE:MPLX) Posts Earnings Results, Misses Expectations By $0.04 EPS

Mplx (NYSE:MPLX) announced its earnings results on Tuesday. The pipeline company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04), Briefing.com reports. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.09 billion. Mplx had a net margin of 35.95% and a return on equity of 32.68%. Mplx’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.89 EPS.

Mplx Trading Up 2.3 %

MPLX opened at $46.42 on Thursday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.95 and a current ratio of 0.99. The stock’s 50 day moving average price is $44.01 and its 200-day moving average price is $42.49. Mplx has a one year low of $35.07 and a one year high of $46.47. The stock has a market cap of $47.38 billion, a price-to-earnings ratio of 11.27, a P/E/G ratio of 1.21 and a beta of 1.37.

Mplx Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be paid a $0.9565 dividend. The ex-dividend date is Friday, November 8th. This represents a $3.83 annualized dividend and a dividend yield of 8.24%. This is an increase from Mplx’s previous quarterly dividend of $0.85. Mplx’s dividend payout ratio is currently 82.52%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Royal Bank of Canada boosted their target price on shares of Mplx from $47.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company raised their target price on shares of Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. StockNews.com cut Mplx from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Bank of America assumed coverage on Mplx in a research report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price objective for the company. Finally, Barclays boosted their target price on Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Mplx has an average rating of “Moderate Buy” and a consensus price target of $47.67.

About Mplx

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.