Wall Street brokerages 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. The highest sales estimate is $1.70 billion and the lowest is $1.64 billion. Mplx posted sales of $1.58 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 5.7%. The firm is scheduled to issue its next 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 year. For the next year, analysts expect that the company will post sales of $10.44 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Mplx.
Mplx (NYSE:MPLX) last issued its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.02. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Mplx had a return on equity of 27.44% and a net margin of 28.57%. Mplx’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the business posted $0.61 EPS.
MPLX traded down $0.10 during trading on Friday, reaching $31.25. The company had a trading volume of 1,059,779 shares, compared to its average volume of 1,752,197. The stock has a market capitalization of $24.89 billion, a P/E ratio of 13.65 and a beta of 1.19. Mplx has a 12-month low of $28.32 and a 12-month high of $39.01. The company has a current ratio of 0.93, a quick ratio of 0.85 and a debt-to-equity ratio of 2.03.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Thursday, May 9th were paid a dividend of $0.6575 per share. This represents a $2.63 annualized dividend and a yield of 8.42%. The ex-dividend date was Wednesday, May 8th. This is a boost from Mplx’s previous quarterly dividend of $0.65. Mplx’s payout ratio is 114.85%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Belpointe Asset Management LLC grew its stake in shares of Mplx by 121.4% in the 1st quarter. Belpointe Asset Management LLC now owns 7,751 shares of the pipeline company’s stock valued at $255,000 after buying an additional 4,250 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of Mplx by 5.5% in the 1st quarter. Clearbridge Investments LLC now owns 2,861,419 shares of the pipeline company’s stock valued at $94,112,000 after buying an additional 150,130 shares in the last quarter. GYL Financial Synergies LLC bought a new stake in shares of Mplx in the 1st quarter valued at approximately $1,843,000. Advisory Services Network LLC grew its stake in shares of Mplx by 66.9% in the 1st quarter. Advisory Services Network LLC now owns 10,152 shares of the pipeline company’s stock valued at $333,000 after buying an additional 4,070 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. bought a new stake in shares of Mplx in the 1st quarter valued at approximately $206,000. 30.83% of the stock is owned by institutional investors and hedge funds.
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.
Featured Article: How To Calculate Debt-to-Equity Ratio
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Mplx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mplx and related companies with MarketBeat.com's FREE daily email newsletter.