Creative Planning Purchases 16,076 Shares of Mplx Lp (NYSE:MPLX)

Creative Planning lifted its holdings in Mplx Lp (NYSE:MPLX - Free Report) by 45.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,508 shares of the pipeline company's stock after purchasing an additional 16,076 shares during the quarter. Creative Planning's holdings in Mplx were worth $2,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Quent Capital LLC purchased a new stake in Mplx during the first quarter valued at $35,000. Crewe Advisors LLC bought a new position in Mplx in the first quarter valued at about $41,000. CWM LLC lifted its holdings in Mplx by 73.3% in the second quarter. CWM LLC now owns 1,066 shares of the pipeline company's stock valued at $45,000 after acquiring an additional 451 shares during the period. Summit Securities Group LLC lifted its holdings in Mplx by 450.0% in 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 during the period. Finally, Redwood Wealth Management Group LLC bought a new position in Mplx in the second quarter valued at about $67,000. Hedge funds and other institutional investors own 24.25% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MPLX. Wells Fargo & Company increased their target price on Mplx from $47.00 to $50.00 and gave the company an "overweight" rating in a report on Wednesday, August 7th. StockNews.com raised Mplx from a "buy" rating to a "strong-buy" rating in a report on Thursday, October 10th. 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 research report on Wednesday, October 16th. Barclays upped their price target on Mplx from $45.00 to $49.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. Finally, Bank of America began coverage on Mplx in a research report on Thursday, October 17th. They issued an "underperform" rating and a $43.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $47.67.

Mplx Price Performance

Shares of NYSE:MPLX traded down $0.15 during trading on Monday, hitting $43.78. 1,255,336 shares of the company's stock were exchanged, compared to its average volume of 1,814,642. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.99 and a quick ratio of 0.95. Mplx Lp has a 52-week low of $35.06 and a 52-week high of $45.24. The business's 50-day simple moving average is $43.66 and its 200 day simple moving average is $42.28. The company has a market cap of $44.49 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 1.21 and a beta of 1.37.

Mplx (NYSE:MPLX - Get Free Report) last released its earnings results on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.17. Mplx had a return on equity of 32.68% and a net margin of 35.95%. The firm had revenue of $3.05 billion during the quarter, compared to analysts' expectations of $2.96 billion. During the same quarter last year, the business posted $0.91 earnings per share. The firm's revenue was up 13.5% on a year-over-year basis. As a group, equities analysts predict that Mplx Lp will post 4.3 EPS for the current year.

Mplx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 9th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 7.77%. The ex-dividend date was Friday, August 9th. Mplx's dividend payout ratio is currently 87.63%.

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.