Analysts Expect MPLX (MPLX) Will Post Earnings of $0.53 Per Share

Wall Street analysts predict that MPLX (NYSE:MPLX) will report $0.53 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for MPLX’s earnings. The lowest EPS estimate is $0.36 and the highest is $0.64. MPLX posted earnings of $0.26 per share in the same quarter last year, which would suggest a positive year over year growth rate of 103.8%. The firm is scheduled to announce its next quarterly earnings results on Thursday, July 26th.

According to Zacks, analysts expect that MPLX will report full year earnings of $2.23 per share for the current fiscal year, with EPS estimates ranging from $1.51 to $2.61. For the next financial year, analysts forecast that the company will report earnings of $2.36 per share, with EPS estimates ranging from $1.68 to $2.91. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for MPLX.

MPLX (NYSE:MPLX) last released its earnings results on Monday, April 30th. The pipeline company reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.19. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.10 billion. MPLX had a return on equity of 10.43% and a net margin of 21.88%. The company’s revenue for the quarter was up 60.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 earnings per share.

A number of analysts have recently issued reports on the company. Zacks Investment Research lowered MPLX from a “buy” rating to a “hold” rating in a report on Friday, April 6th. Stifel Nicolaus reiterated a “buy” rating and set a $45.00 price objective on shares of MPLX in a report on Thursday, February 1st. Guggenheim upgraded MPLX from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Monday, April 16th. Citigroup reiterated a “buy” rating and set a $46.00 price objective on shares of MPLX in a report on Friday, February 2nd. Finally, Mizuho set a $41.00 price objective on MPLX and gave the stock a “buy” rating in a report on Wednesday, April 11th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $41.00.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Atlantic Trust Group LLC raised its holdings in MPLX by 3.2% during the first quarter. Atlantic Trust Group LLC now owns 7,566,146 shares of the pipeline company’s stock valued at $249,986,000 after buying an additional 235,681 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its holdings in MPLX by 3.8% during the first quarter. Tortoise Capital Advisors L.L.C. now owns 25,152,777 shares of the pipeline company’s stock valued at $831,048,000 after buying an additional 916,697 shares in the last quarter. Brookfield Asset Management Inc. raised its holdings in MPLX by 363.1% during the first quarter. Brookfield Asset Management Inc. now owns 9,602,237 shares of the pipeline company’s stock valued at $317,258,000 after buying an additional 7,528,733 shares in the last quarter. Zimmer Partners LP raised its holdings in MPLX by 4.7% during the first quarter. Zimmer Partners LP now owns 1,973,934 shares of the pipeline company’s stock valued at $65,219,000 after buying an additional 89,085 shares in the last quarter. Finally, Freestone Capital Holdings LLC raised its holdings in MPLX by 1.8% during the first quarter. Freestone Capital Holdings LLC now owns 165,214 shares of the pipeline company’s stock valued at $5,459,000 after buying an additional 2,986 shares in the last quarter. Institutional investors own 32.22% of the company’s stock.

Shares of MPLX traded down $0.13 during mid-day trading on Tuesday, reaching $35.68. The company’s stock had a trading volume of 173,983 shares, compared to its average volume of 1,918,953. The firm has a market capitalization of $27.92 billion, a P/E ratio of 33.66, a PEG ratio of 2.63 and a beta of 1.25. MPLX has a 1 year low of $34.79 and a 1 year high of $35.13. The company has a quick ratio of 0.76, a current ratio of 0.83 and a debt-to-equity ratio of 1.70.

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Monday, May 7th were issued a dividend of $0.6175 per share. This is a positive change from MPLX’s previous quarterly dividend of $0.61. This represents a $2.47 annualized dividend and a yield of 6.92%. The ex-dividend date of this dividend was Friday, May 4th. MPLX’s dividend payout ratio (DPR) is 233.02%.

MPLX Company Profile

MPLX LP owns, operates, develops, and acquires midstream energy infrastructure assets. It operates in two segments, Logistics and Storage, and Gathering and Processing segments. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids (NGLs); and gathering, transportation, and storage of crude oil and refined petroleum products.

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Earnings History and Estimates for MPLX (NYSE:MPLX)

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