8,985 Shares in Mplx Lp (NYSE:MPLX) Bought by 49 Wealth Management LLC

49 Wealth Management LLC bought a new position in Mplx Lp (NYSE:MPLX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 8,985 shares of the pipeline company's stock, valued at approximately $481,000.

Other hedge funds have also recently modified their holdings of the company. VSM Wealth Advisory LLC purchased a new position in Mplx in the 4th quarter worth about $31,000. Rossby Financial LCC purchased a new stake in Mplx in the first quarter worth approximately $33,000. JFS Wealth Advisors LLC bought a new stake in Mplx in the 1st quarter worth approximately $37,000. MorganRosel Wealth Management LLC purchased a new stake in Mplx during the 1st quarter valued at $48,000. Finally, Generali Asset Management SPA SGR bought a new position in shares of Mplx during the 4th quarter valued at $56,000. Hedge funds and other institutional investors own 24.25% of the company's stock.

Mplx Stock Performance

Shares of MPLX traded down $0.27 on Thursday, reaching $50.49. The company's stock had a trading volume of 890,807 shares, compared to its average volume of 1,663,232. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 1.04. The stock has a market capitalization of $51.54 billion, a P/E ratio of 11.66, a PEG ratio of 1.59 and a beta of 0.73. The stock's 50 day simple moving average is $51.01 and its two-hundred day simple moving average is $51.27. Mplx Lp has a 12-month low of $39.95 and a 12-month high of $54.87.

Mplx (NYSE:MPLX - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.03. Mplx had a net margin of 36.34% and a return on equity of 32.08%. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the previous year, the firm earned $0.98 earnings per share. The company's revenue for the quarter was up 9.8% on a year-over-year basis. Research analysts forecast that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 9th were issued a dividend of $0.9565 per share. This represents a $3.83 annualized dividend and a yield of 7.58%. The ex-dividend date was Friday, May 9th. Mplx's dividend payout ratio is currently 88.45%.

Analysts Set New Price Targets

MPLX has been the subject of several research analyst reports. Royal Bank Of Canada lifted their price objective on Mplx from $55.00 to $58.00 and gave the stock an "outperform" rating in a report on Monday, March 17th. Barclays reduced their price target on shares of Mplx from $55.00 to $52.00 and set an "overweight" rating for the company in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $55.50.

Mplx Profile

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Crude Oil and Products Logistics and Natural Gas and NGL Services segments. The Crude Oil and Products Logistics segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.