US Capital Advisors Weighs in on Mplx Lp's FY2024 Earnings (NYSE:MPLX)
US Capital Advisors has increased its FY2024 EPS estimates for Mplx Lp (NYSE:MPLX) to $1.16, up from a previous forecast of $1.00, reflecting a positive outlook amid niche energy market resilience despite an oil slump. The consensus estimate for FY2024 earnings is $1.02 per share. Recent quarterly earnings reported a EPS of $1.15, surpassing estimates, alongside a revenue rise of 13.5% year-over-year. Analysts have given Mplx a generally favorable rating, with a current stock performance showing a high of $42.34 and a yearly low of $32.47.
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Mplx Lp (NYSE:MPLX - Free Report) - Equities research analysts at US Capital Advisors raised their FY2024 earnings per share (EPS) estimates for shares of Mplx in a report released on Wednesday, August 21st. US Capital Advisors analyst J. Carreker now expects that the pipeline company will post earnings of $4.16 per share for the year, up from their previous forecast of $4.00. The consensus estimate for Mplx's current full-year earnings is $4.02 per share. US Capital Advisors also issued estimates for Mplx's Q1 2025 earnings at $1.02 EPS, Q2 2025 earnings at $1.04 EPS, FY2025 earnings at $4.17 EPS and FY2026 earnings at $4.34 EPS.
Mplx (NYSE:MPLX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.17. The business had revenue of $3.05 billion during the quarter, compared to analysts' expectations of $2.96 billion. Mplx had a return on equity of 31.70% and a net margin of 34.96%. The business's revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter last year, the business posted $0.91 earnings per share.
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A number of other research analysts have also recently weighed in on the stock. Stifel Nicolaus raised their price objective on shares of Mplx from $45.00 to $47.00 and gave the stock a "buy" rating in a research note on Wednesday, May 1st. StockNews.com raised Mplx from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 11th. Truist Financial increased their price objective on Mplx from $43.00 to $48.00 and gave the company a "buy" rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. boosted their target price on shares of Mplx from $45.00 to $46.00 and gave the company an "overweight" rating in a research note on Friday, May 3rd. Finally, Wells Fargo & Company raised their price target on shares of Mplx from $47.00 to $50.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 7th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Mplx has an average rating of "Buy" and a consensus target price of $46.22.
Read Our Latest Stock Report on Mplx
Mplx Stock Performance
- 3 Top-Performing Energy MLPs Deliver Price Gains, High Yield
Shares of MPLX opened at $42.34 on Friday. Mplx has a 12-month low of $34.47 and a 12-month high of $43.42. The stock has a market cap of $43.03 billion, a P/E ratio of 10.91, a PEG ratio of 2.13 and a beta of 1.37. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 1.44. The company has a 50-day moving average of $42.13 and a two-hundred day moving average of $41.03.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the stock. Sei Investments Co. grew its stake in shares of Mplx by 47.4% in the first quarter. Sei Investments Co. now owns 51,740 shares of the pipeline company's stock valued at $2,150,000 after buying an additional 16,637 shares in the last quarter. Allianz Asset Management GmbH raised its stake in shares of Mplx by 170.6% during the fourth quarter. Allianz Asset Management GmbH now owns 637,100 shares of the pipeline company's stock valued at $23,394,000 after purchasing an additional 401,700 shares during the period. Pingora Partners LLC purchased a new stake in shares of Mplx during the fourth quarter valued at approximately $1,253,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Mplx by 22.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 81,884 shares of the pipeline company's stock worth $3,487,000 after purchasing an additional 14,782 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of Mplx in the first quarter valued at $799,000. Institutional investors and hedge funds own 24.25% of the company's stock.
Mplx Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 9th were issued a $0.85 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.40 annualized dividend and a yield of 8.03%. Mplx's dividend payout ratio is currently 87.63%.
Mplx Company Profile
(Get Free Report)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.
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