Brookstone Capital Management raised its stake in shares of Mplx Lp (NYSE:MPLX – Free Report) by 21.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,017 shares of the pipeline company’s stock after purchasing an additional 1,938 shares during the period. Brookstone Capital Management’s holdings in Mplx were worth $380,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Wesbanco Bank Inc. boosted its holdings in shares of Mplx by 4.5% during the 1st quarter. Wesbanco Bank Inc. now owns 6,912 shares of the pipeline company’s stock valued at $238,000 after purchasing an additional 300 shares during the last quarter. Prospera Financial Services Inc raised its holdings in shares of Mplx by 1.2% during the 1st quarter. Prospera Financial Services Inc now owns 26,220 shares of the pipeline company’s stock worth $903,000 after acquiring an additional 308 shares in the last quarter. First Republic Investment Management Inc. raised its holdings in shares of Mplx by 0.4% during the 4th quarter. First Republic Investment Management Inc. now owns 80,866 shares of the pipeline company’s stock worth $2,656,000 after acquiring an additional 336 shares in the last quarter. PSI Advisors LLC raised its holdings in shares of Mplx by 61.8% during the 1st quarter. PSI Advisors LLC now owns 890 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 340 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its holdings in shares of Mplx by 4.3% during the 1st quarter. Avantax Advisory Services Inc. now owns 8,344 shares of the pipeline company’s stock worth $287,000 after acquiring an additional 342 shares in the last quarter. Institutional investors own 22.43% of the company’s stock.
Mplx Trading Up 0.3 %
MPLX opened at $35.01 on Friday. The company has a quick ratio of 1.65, a current ratio of 1.76 and a debt-to-equity ratio of 1.67. The stock’s fifty day moving average is $34.94 and its two-hundred day moving average is $34.45. The company has a market capitalization of $35.05 billion, a P/E ratio of 8.84 and a beta of 1.41. Mplx Lp has a 52 week low of $28.56 and a 52 week high of $35.85.
Mplx Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Friday, August 4th were issued a dividend of $0.775 per share. This represents a $3.10 annualized dividend and a yield of 8.85%. The ex-dividend date of this dividend was Thursday, August 3rd. Mplx’s payout ratio is 78.28%.
Analyst Ratings Changes
A number of analysts have recently weighed in on the stock. Morgan Stanley restated an “equal weight” rating and issued a $42.00 target price on shares of Mplx in a report on Thursday, July 20th. Stifel Nicolaus lifted their target price on Mplx from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, August 16th. StockNews.com initiated coverage on Mplx in a report on Thursday, August 17th. They issued a “buy” rating for the company. Finally, Raymond James raised their target price on shares of Mplx from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $39.11.
Get Our Latest Stock Report on Mplx
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, exchange, 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 sale of residue gas and condensate.
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