Q4 2023 EPS Estimates for Mplx Lp Increased by Zacks Research (NYSE:MPLX)

Posted by on Jun 24th, 2023

Mplx Lp (NYSE:MPLX – Get Rating) – Stock analysts at Zacks Research lifted their Q4 2023 earnings per share estimates for shares of Mplx in a research report issued to clients and investors on Wednesday, June 21st. Zacks Research analyst N. Banerjee now expects that the pipeline company will post earnings of $0.84 per share for the quarter, up from their previous estimate of $0.83. The consensus estimate for Mplx’s current full-year earnings is $3.56 per share.

MPLX has been the subject of several other reports. Barclays boosted their target price on Mplx from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 5th. StockNews.com began coverage on shares of Mplx in a research note on Thursday, May 18th. They issued a “buy” rating for the company. Morgan Stanley lifted their price target on shares of Mplx from $41.00 to $42.00 in a research report on Tuesday, April 25th. Stifel Nicolaus upped their price objective on shares of Mplx from $38.00 to $40.00 in a research report on Wednesday, May 10th. Finally, JPMorgan Chase & Co. raised Mplx from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $37.00 to $41.00 in a research note on Tuesday, March 14th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $38.60.

Mplx Stock Down 0.6 %

Shares of NYSE MPLX opened at $33.24 on Friday. Mplx has a 1 year low of $27.50 and a 1 year high of $35.37. The firm’s 50-day moving average is $34.08 and its 200-day moving average is $33.99. The company has a current ratio of 1.53, a quick ratio of 1.43 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $33.28 billion, a PE ratio of 8.57 and a beta of 1.43.

Mplx (NYSE:MPLX – Get Rating) last announced its quarterly earnings data on Tuesday, May 2nd. The pipeline company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.60 billion. Mplx had a return on equity of 30.74% and a net margin of 34.67%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $0.78 EPS.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. PSI Advisors LLC lifted its holdings in shares of Mplx by 61.8% during the first quarter. PSI Advisors LLC now owns 890 shares of the pipeline company’s stock worth $31,000 after buying an additional 340 shares in the last quarter. MinichMacGregor Wealth Management LLC acquired a new stake in Mplx in the 4th quarter worth about $33,000. GPS Wealth Strategies Group LLC bought a new stake in Mplx in the 1st quarter valued at about $35,000. Compass Wealth Management LLC acquired a new position in shares of Mplx during the 4th quarter worth approximately $41,000. Finally, Worth Asset Management LLC increased its holdings in shares of Mplx by 76.9% during the fourth quarter. Worth Asset Management LLC now owns 1,415 shares of the pipeline company’s stock worth $46,000 after purchasing an additional 615 shares during the period. 22.89% of the stock is owned by institutional investors.

Mplx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Friday, May 5th were given a $0.775 dividend. This represents a $3.10 annualized dividend and a dividend yield of 9.33%. The ex-dividend date was Thursday, May 4th. Mplx’s payout ratio is presently 79.90%.

Mplx Company Profile

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MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Logistics and Storage (L&S) and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.

Further Reading

Earnings History and Estimates for Mplx (NYSE:MPLX)

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