Lindbrook Capital LLC lifted its position in Mplx Lp (NYSE:MPLX - Free Report) by 27.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 52,128 shares of the pipeline company's stock after acquiring an additional 11,144 shares during the period. Lindbrook Capital LLC's holdings in Mplx were worth $2,318,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in MPLX. Crewe Advisors LLC purchased a new position in shares of Mplx in the 1st quarter worth $41,000. CWM LLC increased its stake in Mplx by 73.3% in the 2nd quarter. CWM LLC now owns 1,066 shares of the pipeline company's stock worth $45,000 after buying an additional 451 shares during the period. Summit Securities Group LLC raised its stake in shares of Mplx by 450.0% during the second quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company's stock valued at $47,000 after acquiring an additional 900 shares in the last quarter. Redwood Wealth Management Group LLC bought a new position in Mplx in the second quarter worth approximately $67,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Mplx in the 2nd quarter worth $88,000. 24.25% of the stock is currently owned by institutional investors.
Mplx Stock Down 0.2 %
Shares of NYSE MPLX traded down $0.11 during trading on Friday, reaching $45.98. 2,088,142 shares of the stock were exchanged, compared to its average volume of 1,499,016. The business's 50-day moving average price is $44.16 and its 200 day moving average price is $42.56. The company has a market capitalization of $46.93 billion, a price-to-earnings ratio of 10.84, a price-to-earnings-growth ratio of 1.27 and a beta of 1.37. Mplx Lp has a twelve month low of $35.07 and a twelve month 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.
Mplx (NYSE:MPLX - Get Free Report) last released its 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 return on equity of 32.70% and a net margin of 36.77%. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the previous year, the firm posted $0.89 EPS. Mplx's revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities analysts forecast that Mplx Lp will post 4.31 EPS for the current fiscal year.
Mplx Increases Dividend
The company 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. This represents a $3.83 dividend on an annualized basis and a yield of 8.32%. The ex-dividend date is Friday, November 8th. Mplx's dividend payout ratio (DPR) is presently 80.19%.
Analyst Ratings Changes
A number of analysts have recently weighed in on the stock. Barclays raised their price target on shares of Mplx from $45.00 to $49.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. StockNews.com downgraded Mplx from a "strong-buy" rating to a "buy" rating in a research report on Wednesday. Bank of America started coverage on shares of Mplx in a report on Thursday, October 17th. They set an "underperform" rating and a $43.00 target price for the company. Royal Bank of Canada increased their target price on shares of Mplx from $47.00 to $50.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Finally, UBS Group upped their price target on shares of Mplx from $49.00 to $51.00 and gave the stock a "buy" rating in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $48.00.
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Mplx Profile
(
Free Report)
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.
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