49 Wealth Management LLC Takes $481,000 Position in Mplx Lp (NYSE:MPLX)

49 Wealth Management LLC purchased a new position in Mplx Lp (NYSE:MPLX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 8,985 shares of the pipeline company's stock, valued at approximately $481,000.

Other hedge funds have also recently made changes to their positions in the company. Rossby Financial LCC purchased a new stake in shares of Mplx during the 1st quarter valued at about $33,000. VSM Wealth Advisory LLC purchased a new stake in shares of Mplx during the 4th quarter valued at about $31,000. JFS Wealth Advisors LLC purchased a new stake in shares of Mplx during the 1st quarter valued at about $37,000. MorganRosel Wealth Management LLC bought a new position in Mplx during the 1st quarter valued at about $48,000. Finally, PSI Advisors LLC grew its holdings in Mplx by 32.5% during the 1st quarter. PSI Advisors LLC now owns 1,100 shares of the pipeline company's stock valued at $59,000 after purchasing an additional 270 shares during the last quarter. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Mplx Trading Up 0.5%

MPLX stock traded up $0.25 during mid-day trading on Friday, reaching $50.71. The company had a trading volume of 1,077,816 shares, compared to its average volume of 1,654,619. 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 capitalization of $51.76 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 1.57 and a beta of 0.73. The firm has a 50 day moving average of $50.98 and a 200 day moving average of $51.30. 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 earnings results on Tuesday, May 6th. The pipeline company reported $1.10 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.03. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $3.15 billion. Mplx had a net margin of 36.34% and a return on equity of 32.08%. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 EPS. On average, equities analysts predict that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 9th were paid a $0.9565 dividend. The ex-dividend date was Friday, May 9th. This represents a $3.83 dividend on an annualized basis and a yield of 7.54%. Mplx's dividend payout ratio is currently 88.45%.

Wall Street Analyst Weigh In

Several brokerages recently commented on MPLX. Royal Bank Of Canada upped their price target on shares of Mplx from $55.00 to $58.00 and gave the company an "outperform" rating in a report on Monday, March 17th. Barclays upped their price target on shares of Mplx from $52.00 to $53.00 and gave the company an "overweight" rating in a report on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Mplx has an average rating of "Moderate Buy" and a consensus price target of $55.63.

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.