Mplx Lp (MPLX) Expected to Post Quarterly Sales of $1.61 Billion

Wall Street brokerages expect Mplx Lp (NYSE:MPLX) to post sales of $1.61 billion for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Mplx’s earnings, with estimates ranging from $1.60 billion to $1.63 billion. Mplx reported sales of $980.00 million in the same quarter last year, which indicates a positive year over year growth rate of 64.3%. The company is expected to issue its next earnings report before the market opens on Thursday, November 1st.

According to Zacks, analysts expect that Mplx will report full year sales of $6.23 billion for the current year, with estimates ranging from $6.10 billion to $6.34 billion. For the next fiscal year, analysts forecast that the firm will report sales of $6.80 billion, with estimates ranging from $6.74 billion to $6.88 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Mplx.

Mplx (NYSE:MPLX) last announced its quarterly earnings results on Thursday, July 26th. The pipeline company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). Mplx had a net margin of 24.22% and a return on equity of 14.43%. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the company posted $0.26 earnings per share. Mplx’s quarterly revenue was up 72.3% on a year-over-year basis.

A number of equities analysts recently commented on MPLX shares. Zacks Investment Research lowered Mplx from a “buy” rating to a “hold” rating in a research note on Thursday, July 5th. Credit Suisse Group started coverage on Mplx in a research note on Thursday, October 11th. They set an “outperform” rating and a $45.00 price target for the company. ValuEngine lowered Mplx from a “sell” rating to a “strong sell” rating in a research note on Monday, July 2nd. Goldman Sachs Group reissued a “neutral” rating on shares of Mplx in a research note on Tuesday, October 9th. Finally, Stifel Nicolaus increased their price target on Mplx from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, July 27th. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company’s stock. Mplx presently has a consensus rating of “Buy” and an average target price of $40.69.

A number of hedge funds have recently modified their holdings of the business. Tortoise Capital Advisors L.L.C. raised its position in Mplx by 7.0% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 26,918,106 shares of the pipeline company’s stock valued at $918,984,000 after purchasing an additional 1,765,329 shares during the period. Alps Advisors Inc. raised its position in Mplx by 5.7% during the third quarter. Alps Advisors Inc. now owns 25,426,675 shares of the pipeline company’s stock valued at $881,797,000 after purchasing an additional 1,382,018 shares during the period. OppenheimerFunds Inc. raised its position in Mplx by 1.4% during the second quarter. OppenheimerFunds Inc. now owns 11,613,781 shares of the pipeline company’s stock valued at $396,494,000 after purchasing an additional 158,163 shares during the period. Salient Capital Advisors LLC raised its position in Mplx by 60.6% during the second quarter. Salient Capital Advisors LLC now owns 7,447,362 shares of the pipeline company’s stock valued at $254,253,000 after purchasing an additional 2,810,467 shares during the period. Finally, Chickasaw Capital Management LLC raised its position in Mplx by 74.1% during the third quarter. Chickasaw Capital Management LLC now owns 5,708,264 shares of the pipeline company’s stock valued at $197,963,000 after purchasing an additional 2,430,097 shares during the period. Institutional investors and hedge funds own 31.45% of the company’s stock.

Mplx stock traded down $0.42 during midday trading on Friday, reaching $32.57. 1,346,013 shares of the stock traded hands, compared to its average volume of 1,657,581. Mplx has a 12 month low of $31.60 and a 12 month high of $39.38. The firm has a market cap of $27.12 billion, a PE ratio of 30.73, a PEG ratio of 2.43 and a beta of 1.39. The company has a current ratio of 0.61, a quick ratio of 0.55 and a debt-to-equity ratio of 1.71.

About Mplx

MPLX LP is a fee-based, growth-oriented limited partnership company. It is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids; and the gathering, transportation and storage of crude oil and refined petroleum products.

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