$1.67 Billion in Sales Expected for Mplx Lp (MPLX) This Quarter

Wall Street analysts predict that Mplx Lp (NYSE:MPLX) will report $1.67 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Mplx’s earnings, with the highest sales estimate coming in at $1.70 billion and the lowest estimate coming in at $1.64 billion. Mplx reported sales of $1.58 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 5.7%. The business is expected to report its next quarterly earnings report on Thursday, July 25th.

According to Zacks, analysts expect that Mplx will report full-year sales of $7.53 billion for the current fiscal year. For the next year, analysts forecast that the company will report sales of $10.44 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Mplx.

Mplx (NYSE:MPLX) last released its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.02. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. Mplx had a net margin of 28.57% and a return on equity of 27.44%. The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.61 earnings per share.

Several research firms have commented on MPLX. ValuEngine raised shares of Mplx from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. Credit Suisse Group decreased their price target on shares of Mplx from $44.00 to $39.00 and set an “outperform” rating for the company in a research report on Tuesday, March 12th. Barclays reissued a “buy” rating and set a $38.00 price target on shares of Mplx in a research report on Wednesday, March 13th. UBS Group decreased their price target on shares of Mplx to $41.00 and set an “overweight” rating for the company in a research report on Thursday, February 7th. Finally, Zacks Investment Research lowered shares of Mplx from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $39.44.

Several institutional investors have recently made changes to their positions in MPLX. Toth Financial Advisory Corp acquired a new position in Mplx in the 1st quarter worth approximately $26,000. Lindbrook Capital LLC acquired a new position in Mplx in the 4th quarter worth approximately $28,000. Legacy Advisors LLC acquired a new position in Mplx in the 1st quarter worth approximately $44,000. Northwestern Mutual Wealth Management Co. increased its holdings in Mplx by 67.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,368 shares of the pipeline company’s stock worth $45,000 after buying an additional 550 shares during the period. Finally, Executive Wealth Management LLC acquired a new position in Mplx in the 4th quarter worth approximately $46,000. 30.83% of the stock is owned by hedge funds and other institutional investors.

MPLX stock opened at $31.06 on Friday. The stock has a market cap of $24.72 billion, a price-to-earnings ratio of 13.56 and a beta of 1.20. Mplx has a one year low of $28.32 and a one year high of $39.01. The company has a quick ratio of 0.85, a current ratio of 0.93 and a debt-to-equity ratio of 2.03.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, May 9th were given a $0.6575 dividend. This is a positive change from Mplx’s previous quarterly dividend of $0.65. This represents a $2.63 annualized dividend and a dividend yield of 8.47%. The ex-dividend date was Wednesday, May 8th. Mplx’s dividend payout ratio (DPR) is presently 114.85%.

About Mplx

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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