20,740 Shares in Mplx Lp (NYSE:MPLX) Acquired by CWA Asset Management Group LLC

CWA Asset Management Group LLC purchased a new position in Mplx Lp (NYSE:MPLX - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 20,740 shares of the pipeline company's stock, valued at approximately $922,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MPLX. Crewe Advisors LLC bought a new position in shares of Mplx during the first quarter valued at approximately $41,000. CWM LLC raised its stake in Mplx by 73.3% during the 2nd quarter. CWM LLC now owns 1,066 shares of the pipeline company's stock valued at $45,000 after purchasing an additional 451 shares during the period. Summit Securities Group LLC increased its stake in Mplx by 450.0% in the 2nd quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company's stock worth $47,000 after acquiring an additional 900 shares during the last quarter. Redwood Wealth Management Group LLC purchased a new position in shares of Mplx in the 2nd quarter worth approximately $67,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Mplx in the 2nd quarter valued at $88,000. 24.25% of the stock is currently owned by institutional investors.

Mplx Stock Up 0.5 %

MPLX stock traded up $0.22 during trading on Monday, reaching $46.20. The stock had a trading volume of 1,025,818 shares, compared to its average volume of 1,825,586. The company's 50 day moving average is $44.16 and its two-hundred day moving average is $42.57. Mplx Lp has a one year low of $35.10 and a one year high of $47.62. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $47.15 billion, a price-to-earnings ratio of 10.84, a P/E/G ratio of 1.25 and a beta of 1.37.

Mplx (NYSE:MPLX - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.04). Mplx had a net margin of 36.77% and a return on equity of 32.70%. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the firm earned $0.89 earnings per share. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. Equities research analysts forecast that Mplx Lp will post 4.31 EPS for the current year.

Mplx Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.9565 per share. This is a positive change from Mplx's previous quarterly dividend of $0.85. The ex-dividend date is Friday, November 8th. This represents a $3.83 dividend on an annualized basis and a yield of 8.28%. Mplx's dividend payout ratio is presently 80.19%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MPLX. Bank of America started coverage on Mplx in a research report on Thursday, October 17th. They set an "underperform" rating and a $43.00 price objective on the stock. UBS Group lifted their price objective on Mplx from $49.00 to $51.00 and gave the stock a "buy" rating in a research report on Wednesday, September 18th. Barclays boosted their target price on Mplx from $45.00 to $49.00 and gave the stock an "overweight" rating in a research note on Thursday, October 10th. StockNews.com downgraded Mplx from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada upped their price target on Mplx from $47.00 to $50.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $48.00.

Mplx Profile

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.