Analysts Anticipate Mplx Lp (MPLX) Will Post Quarterly Sales of $1.72 Billion

Equities analysts expect Mplx Lp (NYSE:MPLX) to announce sales of $1.72 billion for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Mplx’s earnings, with the highest sales estimate coming in at $1.77 billion and the lowest estimate coming in at $1.66 billion. Mplx reported sales of $1.42 billion during the same quarter last year, which suggests a positive year over year growth rate of 21.1%. The company is expected to issue its next earnings results on Monday, April 29th.

According to Zacks, analysts expect that Mplx will report full-year sales of $7.05 billion for the current financial year, with estimates ranging from $6.95 billion to $7.16 billion. For the next financial year, analysts anticipate that the business will post sales of $8.03 billion, with estimates ranging from $7.73 billion to $8.33 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Mplx.

Mplx (NYSE:MPLX) last posted its quarterly earnings data on Thursday, February 7th. The pipeline company reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.16). Mplx had a net margin of 28.30% and a return on equity of 26.21%. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the company earned $0.31 EPS. The company’s revenue was up 58.1% compared to the same quarter last year.

A number of research analysts have recently commented on MPLX shares. Credit Suisse Group dropped their price objective on shares of Mplx from $44.00 to $39.00 and set an “outperform” rating for the company in a research note on Tuesday, March 12th. Zacks Investment Research upgraded Mplx from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Tuesday, December 25th. Barclays initiated coverage on Mplx in a research report on Thursday, December 13th. They set an “overweight” rating and a $40.00 price objective for the company. Evercore ISI initiated coverage on Mplx in a research report on Tuesday, February 5th. They set an “outperform” rating for the company. Finally, ValuEngine upgraded Mplx from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. Mplx presently has a consensus rating of “Buy” and a consensus target price of $39.82.

Several institutional investors have recently made changes to their positions in MPLX. Jackson Hole Capital Partners LLC bought a new stake in shares of Mplx during the fourth quarter worth $1,208,000. American Century Companies Inc. purchased a new position in shares of Mplx in the 4th quarter worth approximately $283,000. Belpointe Asset Management LLC boosted its stake in shares of Mplx by 16.7% in the 4th quarter. Belpointe Asset Management LLC now owns 3,501 shares of the pipeline company’s stock worth $106,000 after buying an additional 500 shares during the last quarter. Executive Wealth Management LLC purchased a new position in shares of Mplx in the 4th quarter worth approximately $46,000. Finally, HRT Financial LLC purchased a new position in shares of Mplx in the 4th quarter worth approximately $363,000. Institutional investors and hedge funds own 31.08% of the company’s stock.

NYSE MPLX opened at $33.23 on Friday. Mplx has a 12 month low of $28.32 and a 12 month high of $39.01. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.76 and a quick ratio of 0.69. The stock has a market cap of $26.12 billion, a PE ratio of 14.51, a P/E/G ratio of 2.21 and a beta of 1.30.

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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