49 Wealth Management LLC Buys Shares of 8,985 Mplx Lp (NYSE:MPLX)

49 Wealth Management LLC purchased a new stake in shares of Mplx Lp (NYSE:MPLX - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 8,985 shares of the pipeline company's stock, valued at approximately $481,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MPLX. Jones Financial Companies Lllp raised its position in shares of Mplx by 1,067.7% in the 4th quarter. Jones Financial Companies Lllp now owns 5,932 shares of the pipeline company's stock worth $284,000 after acquiring an additional 5,424 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Mplx in the 4th quarter worth approximately $41,917,000. Larson Financial Group LLC raised its position in shares of Mplx by 9,134.1% in the 4th quarter. Larson Financial Group LLC now owns 11,635 shares of the pipeline company's stock worth $557,000 after acquiring an additional 11,509 shares in the last quarter. Simplicity Wealth LLC raised its position in shares of Mplx by 3.3% in the 4th quarter. Simplicity Wealth LLC now owns 162,749 shares of the pipeline company's stock worth $7,789,000 after acquiring an additional 5,164 shares in the last quarter. Finally, Objectivity Squared LLC raised its position in shares of Mplx by 2.6% in the 4th quarter. Objectivity Squared LLC now owns 89,125 shares of the pipeline company's stock worth $4,309,000 after acquiring an additional 2,246 shares in the last quarter. Institutional investors own 24.25% of the company's stock.

Mplx Stock Up 0.2%

MPLX stock traded up $0.09 on Friday, reaching $50.55. 337,559 shares of the company traded hands, compared to its average volume of 1,650,458. Mplx Lp has a one year low of $39.95 and a one year high of $54.87. 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 company has a market cap of $51.60 billion, a P/E ratio of 11.67, a price-to-earnings-growth ratio of 1.58 and a beta of 0.73. The firm has a fifty day simple moving average of $51.01 and a 200-day simple moving average of $51.28.

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

Mplx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 9th were paid a dividend of $0.9565 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $3.83 annualized dividend and a yield of 7.57%. Mplx's dividend payout ratio is 88.22%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Barclays increased their target price on Mplx from $52.00 to $53.00 and gave the stock an "overweight" rating in a research report on Friday. Royal Bank Of Canada increased their target price on Mplx from $55.00 to $58.00 and gave the stock an "outperform" rating in a research report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Mplx currently has an average rating of "Moderate Buy" and a consensus target price of $55.63.

Mplx Company 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.