Mplx (NYSE:MPLX) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Mplx (NYSE:MPLX) announced its quarterly earnings data on Tuesday. The pipeline company reported $0.98 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.01), Briefing.com reports. Mplx had a net margin of 34.82% and a return on equity of 31.85%. The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter last year, the company posted $0.91 earnings per share. Mplx’s revenue for the quarter was up 4.9% compared to the same quarter last year.

Mplx Stock Down 0.7 %

Shares of Mplx stock traded down $0.29 on Wednesday, reaching $41.51. The company’s stock had a trading volume of 774,503 shares, compared to its average volume of 2,186,216. The company has a market capitalization of $41.95 billion, a price-to-earnings ratio of 10.89 and a beta of 1.35. The firm’s fifty day simple moving average is $40.71 and its two-hundred day simple moving average is $38.11. Mplx has a 52 week low of $33.12 and a 52 week high of $42.90. The company has a quick ratio of 1.01, a current ratio of 1.07 and a debt-to-equity ratio of 1.52.

Mplx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Friday, May 3rd will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 8.19%. The ex-dividend date is Thursday, May 2nd. Mplx’s payout ratio is 89.24%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MPLX shares. Barclays raised their price target on Mplx from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Raymond James increased their price objective on Mplx from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. StockNews.com upgraded Mplx from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 31st. UBS Group raised their target price on Mplx from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Finally, Stifel Nicolaus raised their target price on Mplx from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $44.57.

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.