MPLX LP (NYSE: MPLX) said this week its Board of Directors had authorized a quarterly cash dividend in the amount of $0.85 per share of common stock.
The dividend will be paid on May 13th to shareholders of record as of the close of business on May 3rd 2024, the company said.
Stock Performance
The shares of MPLX LP (MPLX) closed 0.70% ($0.29) higher at $41.77 in New York on Wednesday, as they extended the gains from the previous five market sessions.
It has been the stock’s highest closing price since April 8th.
The company’s total market cap now stands at $42.218 billion.
The shares of MPLX LP (MPLX) have risen 13.75% so far this year, following another 11.81% gain in 2023.
Analyst stock price forecast and recommendation
According to TipRanks, all 8 surveyed investment analysts offering 12-month price targets for MPLX LP’s stock had rated the latter as “Buy”. The median price target on the stock stands at $44.63, which translates into a 6.85% upside compared to the closing price on Wednesday.
The high point of the analyst forecast range stands at $49.00.
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