Stratos Wealth Partners LTD. Buys 1,555 Shares of Mplx Lp (NYSE:MPLX)

Posted by Defense World Staff on Oct 1st, 2023

Stratos Wealth Partners LTD. raised its stake in shares of Mplx Lp (NYSE:MPLX – Free Report) by 4.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,844 shares of the pipeline company’s stock after acquiring an additional 1,555 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Mplx were worth $1,284,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MPLX. HighTower Advisors LLC raised its holdings in shares of Mplx by 1.4% in the first quarter. HighTower Advisors LLC now owns 492,817 shares of the pipeline company’s stock valued at $16,977,000 after buying an additional 6,858 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of Mplx by 4.3% in the first quarter. Avantax Advisory Services Inc. now owns 8,344 shares of the pipeline company’s stock valued at $287,000 after buying an additional 342 shares during the last quarter. Crescent Grove Advisors LLC raised its holdings in shares of Mplx by 1.7% in the second quarter. Crescent Grove Advisors LLC now owns 71,355 shares of the pipeline company’s stock valued at $2,422,000 after buying an additional 1,179 shares during the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of Mplx by 2.9% in the second quarter. Maryland State Retirement & Pension System now owns 380,671 shares of the pipeline company’s stock valued at $12,920,000 after buying an additional 10,705 shares during the last quarter. Finally, Global Retirement Partners LLC raised its holdings in shares of Mplx by 1,177.5% in the first quarter. Global Retirement Partners LLC now owns 2,555 shares of the pipeline company’s stock valued at $89,000 after buying an additional 2,355 shares during the last quarter. 22.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Morgan Stanley reaffirmed an “equal weight” rating and issued a $42.00 price target on shares of Mplx in a report on Thursday, July 20th. StockNews.com began coverage on Mplx in a report on Thursday, August 17th. They set a “buy” rating for the company. Raymond James boosted their price objective on Mplx from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, July 21st. Finally, Stifel Nicolaus boosted their price objective on Mplx from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, August 16th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.75.

Check Out Our Latest Stock Report on MPLX

Mplx Price Performance

Mplx stock opened at $35.57 on Friday. The firm has a market capitalization of $35.61 billion, a P/E ratio of 8.98 and a beta of 1.41. Mplx Lp has a 1 year low of $29.55 and a 1 year high of $35.85. The business has a 50-day moving average of $35.02 and a 200-day moving average of $34.47. The company has a current ratio of 1.76, a quick ratio of 1.65 and a debt-to-equity ratio of 1.67.

Mplx (NYSE:MPLX – Get Free Report) last posted its earnings results on Tuesday, August 1st. The pipeline company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.05. The company had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.66 billion. Mplx had a return on equity of 30.78% and a net margin of 35.93%. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.83 EPS. On average, equities analysts anticipate that Mplx Lp will post 3.65 EPS for the current year.

Mplx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Friday, August 4th were given a dividend of $0.775 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $3.10 annualized dividend and a dividend yield of 8.72%. Mplx’s payout ratio is currently 78.28%.

Mplx Company 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, 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.