Creative Planning decreased its position in Mplx Lp (NYSE:MPLX – Free Report) by 17.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,852 shares of the pipeline company’s stock after selling 8,574 shares during the period. Creative Planning’s holdings in Mplx were worth $1,353,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC acquired a new stake in shares of Mplx in the second quarter valued at about $160,000. Ulland Investment Advisors LLC acquired a new position in Mplx during the second quarter worth about $136,000. Exchange Traded Concepts LLC boosted its position in Mplx by 364,860.2% during the second quarter. Exchange Traded Concepts LLC now owns 339,413 shares of the pipeline company’s stock worth $11,520,000 after acquiring an additional 339,320 shares during the last quarter. Sabal Trust CO acquired a new position in Mplx during the second quarter worth about $239,000. Finally, Stratos Wealth Partners LTD. boosted its position in Mplx by 4.3% during the second quarter. Stratos Wealth Partners LTD. now owns 37,844 shares of the pipeline company’s stock worth $1,284,000 after acquiring an additional 1,555 shares during the last quarter. Institutional investors and hedge funds own 22.43% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts recently weighed in on MPLX shares. StockNews.com started coverage on shares of Mplx in a research report on Thursday, October 5th. They set a “buy” rating on the stock. Raymond James boosted their price target on shares of Mplx from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, July 21st. Stifel Nicolaus boosted their target price on shares of Mplx from $40.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, August 16th. Morgan Stanley reiterated an “equal weight” rating and issued a $42.00 target price on shares of Mplx in a report on Thursday, July 20th. Finally, The Goldman Sachs Group initiated coverage on shares of Mplx in a report on Thursday, October 5th. They issued a “buy” rating and a $40.00 target price on the stock. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Mplx has an average rating of “Moderate Buy” and an average price target of $39.78.
Mplx Price Performance
Mplx stock opened at $36.09 on Friday. The company’s 50 day simple moving average is $35.04 and its 200-day simple moving average is $34.58. The company has a market capitalization of $36.13 billion, a price-to-earnings ratio of 9.11 and a beta of 1.38. Mplx Lp has a 1 year low of $31.15 and a 1 year high of $36.22. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.65 and a current ratio of 1.76.
Mplx (NYSE:MPLX – Get Free Report) last released its quarterly earnings results on Tuesday, August 1st. The pipeline company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. Mplx had a net margin of 35.93% and a return on equity of 30.78%. The business had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the previous year, the firm earned $0.83 EPS. The business’s revenue was down 8.5% on a year-over-year basis. As a group, equities research analysts expect that Mplx Lp will post 3.65 earnings per share for the current year.
Mplx Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Friday, August 4th were paid a dividend of $0.775 per share. This represents a $3.10 annualized dividend and a yield of 8.59%. The ex-dividend date of this dividend was Thursday, August 3rd. Mplx’s payout ratio is currently 78.28%.
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.
Read More
- Five stocks we like better than Mplx
- Video Game Stocks: How to Invest in Gaming
- What BlackRock’s Earnings Tell You About The Stock Market Tide
- Learn Technical Analysis Skills to Master the Stock Market
- Sociedad Quimica y Minera de Chile Well Positioned Lithium Stock
- Investing in Blue-Chip Stocks
- SMART Global Holdings Now Positioned for Upside
Want to see what other hedge funds are holding MPLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mplx Lp (NYSE:MPLX – Free Report).
Receive News & Ratings for Mplx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mplx and related companies with MarketBeat.com's FREE daily email newsletter.
