Fintel reports that on July 21, 2023, Raymond James maintained coverage of MPLX LP - Unit (NYSE:MPLX) with a Outperform recommendation.
Analyst Price Forecast Suggests 16.68% Upside
As of July 6, 2023, the average one-year price target for MPLX LP - Unit is 40.54. The forecasts range from a low of 34.34 to a high of $46.20. The average price target represents an increase of 16.68% from its latest reported closing price of 34.75.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for MPLX LP - Unit is 10,888MM, a decrease of 2.67%. The projected annual non-GAAP EPS is 3.59.
MPLX LP - Unit Declares $0.78 Dividend
On April 25, 2023 the company declared a regular quarterly dividend of $0.78 per share ($3.10 annualized). Shareholders of record as of May 5, 2023 received the payment on May 15, 2023. Previously, the company paid $0.78 per share.
At the current share price of $34.75 / share, the stock's dividend yield is 8.92%.
Looking back five years and taking a sample every week, the average dividend yield has been 10.35%, the lowest has been 6.70%, and the highest has been 27.34%. The standard deviation of yields is 3.22 (n=236).
The current dividend yield is 0.44 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.76. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.13%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 486 funds or institutions reporting positions in MPLX LP - Unit. This is an increase of 11 owner(s) or 2.32% in the last quarter. Average portfolio weight of all funds dedicated to MPLX is 1.16%, an increase of 9.56%. Total shares owned by institutions increased in the last three months by 1.56% to 305,520K shares. 
The put/call ratio of MPLX is 0.59, indicating a bullish outlook.
What are Other Shareholders Doing?
Blackstone Group holds 50,479K shares representing 5.04% ownership of the company. In it's prior filing, the firm reported owning 50,517K shares, representing a decrease of 0.08%. The firm increased its portfolio allocation in MPLX by 13.16% over the last quarter.
Alps Advisors holds 23,650K shares representing 2.36% ownership of the company. In it's prior filing, the firm reported owning 20,674K shares, representing an increase of 12.58%. The firm increased its portfolio allocation in MPLX by 17.90% over the last quarter.
AMLP - ALERIAN MLP ETF holds 20,333K shares representing 2.03% ownership of the company. In it's prior filing, the firm reported owning 21,023K shares, representing a decrease of 3.39%. The firm increased its portfolio allocation in MPLX by 1.64% over the last quarter.
Invesco holds 20,113K shares representing 2.01% ownership of the company. In it's prior filing, the firm reported owning 20,912K shares, representing a decrease of 3.98%. The firm decreased its portfolio allocation in MPLX by 91.11% over the last quarter.
Goldman Sachs Group holds 13,541K shares representing 1.35% ownership of the company. In it's prior filing, the firm reported owning 13,168K shares, representing an increase of 2.75%. The firm decreased its portfolio allocation in MPLX by 70.14% over the last quarter.
MPLX Background Information
(This description is provided by the company.)
MPLX is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets, and provides fuels distribution services. MPLX's assets include a network of crude oil and refined product pipelines; an inland marine business; light-product terminals; storage caverns; refinery tanks, docks, loading racks, and associated piping; and crude and light-product marine terminals. The company also owns crude oil and natural gas gathering systems and pipelines as well as natural gas and NGL processing and fractionation facilities in key U.S. supply basins.
Additional reading:
- POWER OF ATTORNEY
- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM T-1 STATEMENT OF ELIGIBILITY UNDER THE TRUST INDENTURE ACT OF 1939 OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE
- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM T-1 STATEMENT OF ELIGIBILITY UNDER THE TRUST INDENTURE ACT OF 1939 OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE
- 2727 NORTH HARWOOD STREET • DALLAS, TEXAS 75201.1515 TELEPHONE: +1.214.220.3939 • FACSIMILE: +1.214.969.5100
- MPLX LP Reports First-Quarter 2023 Financial Results
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
