Mplx Lp (NYSE:MPLX) Expected to Announce Quarterly Sales of $2.00 Billion

Equities analysts expect Mplx Lp (NYSE:MPLX) to post sales of $2.00 billion for the current quarter, according to Zacks. Two analysts have issued estimates for Mplx’s earnings. The lowest sales estimate is $1.87 billion and the highest is $2.13 billion. Mplx posted sales of $1.63 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 22.7%. The business is expected to announce its next earnings results before the market opens on Monday, August 3rd.

On average, analysts expect that Mplx will report full-year sales of $7.77 billion for the current fiscal year, with estimates ranging from $6.90 billion to $8.68 billion. For the next year, analysts forecast that the firm will report sales of $8.86 billion, with estimates ranging from $8.45 billion to $9.49 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Mplx.

Mplx (NYSE:MPLX) last posted its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.05. The firm had revenue of $992.00 million during the quarter, compared to analyst estimates of $2.22 billion. Mplx had a positive return on equity of 17.96% and a negative net margin of 30.40%. Mplx’s quarterly revenue was down 55.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.61 EPS.

A number of equities analysts have weighed in on the company. Barclays raised Mplx from an “equal weight” rating to an “overweight” rating and set a $21.00 target price for the company in a research report on Tuesday, March 24th. ValuEngine lowered Mplx from a “hold” rating to a “sell” rating in a research report on Thursday, June 11th. Credit Suisse Group boosted their target price on Mplx from $18.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Citigroup decreased their target price on Mplx from $32.00 to $21.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Finally, Morgan Stanley boosted their target price on Mplx from $17.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. Mplx has an average rating of “Buy” and an average target price of $25.87.

A number of hedge funds have recently bought and sold shares of the business. FMR LLC grew its holdings in shares of Mplx by 6.4% in the first quarter. FMR LLC now owns 336,101 shares of the pipeline company’s stock valued at $11,054,000 after purchasing an additional 20,300 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its position in Mplx by 122.9% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 463,730 shares of the pipeline company’s stock valued at $15,253,000 after purchasing an additional 255,707 shares during the last quarter. Pacer Advisors Inc. bought a new position in Mplx during the fourth quarter valued at $212,000. Mackay Shields LLC purchased a new position in shares of Mplx in the 4th quarter worth $377,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in shares of Mplx by 15.2% in the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 22,638 shares of the pipeline company’s stock worth $576,000 after buying an additional 2,994 shares during the last quarter. Institutional investors and hedge funds own 29.88% of the company’s stock.

Shares of MPLX traded up $0.24 during trading hours on Monday, hitting $17.57. The company had a trading volume of 1,984,915 shares, compared to its average volume of 3,562,765. The firm has a fifty day moving average price of $18.76 and a 200-day moving average price of $19.55. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.01 and a current ratio of 1.09. The stock has a market capitalization of $18.60 billion, a price-to-earnings ratio of -8.70 and a beta of 1.98. Mplx has a 52-week low of $6.87 and a 52-week high of $32.65.

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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