Credit Suisse Group reiterated their outperform rating on shares of Mplx (NYSE:MPLX) in a report released on Monday morning, The Fly reports. They currently have a $33.00 target price on the pipeline company’s stock, down from their previous target price of $38.00.
Several other equities research analysts have also recently commented on MPLX. ValuEngine cut Mplx from a sell rating to a strong sell rating in a research note on Wednesday, July 24th. Raymond James lowered their target price on Mplx from $38.00 to $34.00 and set an outperform rating for the company in a research note on Friday, August 2nd. Zacks Investment Research cut Mplx from a hold rating to a sell rating in a research note on Friday, May 10th. Wells Fargo & Co lifted their target price on Mplx from $37.00 to $38.00 and gave the company an outperform rating in a research note on Thursday, May 9th. Finally, BMO Capital Markets began coverage on Mplx in a research note on Monday, June 10th. They issued a market perform rating and a $35.00 target price for the company. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $37.20.
Shares of MPLX opened at $26.55 on Monday. The stock has a fifty day moving average price of $30.38 and a two-hundred day moving average price of $32.03. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.68 and a current ratio of 0.75. Mplx has a 52-week low of $25.85 and a 52-week high of $38.20. The company has a market cap of $21.53 billion, a price-to-earnings ratio of 11.78 and a beta of 1.13.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Monday, August 5th were paid a $0.668 dividend. This is a boost from Mplx’s previous quarterly dividend of $0.44. This represents a $2.67 annualized dividend and a dividend yield of 10.06%. The ex-dividend date of this dividend was Friday, August 2nd. Mplx’s dividend payout ratio (DPR) is 116.59%.
In related news, Director Garry L. Peiffer acquired 18,800 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average cost of $27.30 per share, with a total value of $513,240.00. Following the completion of the purchase, the director now directly owns 14,302 shares in the company, valued at $390,444.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Garry L. Peiffer acquired 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average cost of $27.15 per share, with a total value of $488,700.00. Following the completion of the purchase, the director now owns 14,302 shares of the company’s stock, valued at $388,299.30. The disclosure for this purchase can be found here. Insiders bought a total of 79,400 shares of company stock valued at $2,159,808 over the last three months.
Institutional investors have recently made changes to their positions in the stock. Toth Financial Advisory Corp acquired a new stake in shares of Mplx during the first quarter worth $26,000. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Mplx during the second quarter worth $31,000. Berman Capital Advisors LLC grew its stake in shares of Mplx by 146.2% during the second quarter. Berman Capital Advisors LLC now owns 975 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 579 shares during the period. Sonora Investment Management LLC acquired a new stake in shares of Mplx during the second quarter worth $32,000. Finally, Lindbrook Capital LLC grew its stake in shares of Mplx by 90.3% during the second quarter. Lindbrook Capital LLC now owns 1,275 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 605 shares during the period. 30.52% of the stock is owned by institutional investors and hedge funds.
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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