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

49 Wealth Management LLC purchased a new position 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 institutional investors and hedge funds also recently made changes to their positions in MPLX. CFO4Life Group LLC boosted its stake in MPLX by 1.1% during the 4th quarter. CFO4Life Group LLC now owns 19,200 shares of the pipeline company's stock valued at $919,000 after purchasing an additional 200 shares during the last quarter. Colonial River Investments LLC raised its holdings in MPLX by 1.8% during the 1st quarter. Colonial River Investments LLC now owns 11,603 shares of the pipeline company's stock valued at $621,000 after acquiring an additional 200 shares during the period. RE Dickinson Investment Advisors LLC grew its position in shares of MPLX by 11.5% during the 4th quarter. RE Dickinson Investment Advisors LLC now owns 2,017 shares of the pipeline company's stock valued at $96,000 after purchasing an additional 208 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its position in shares of MPLX by 1.1% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 21,520 shares of the pipeline company's stock valued at $1,030,000 after purchasing an additional 231 shares in the last quarter. Finally, Cherry Creek Investment Advisors Inc. increased its stake in MPLX by 1.8% in the first quarter. Cherry Creek Investment Advisors Inc. now owns 14,743 shares of the pipeline company's stock valued at $789,000 after acquiring an additional 254 shares during the last quarter. Institutional investors own 24.25% of the company's stock.

MPLX Trading Down 0.5%

Shares of NYSE MPLX traded down $0.24 during trading hours on Wednesday, hitting $50.72. The company's stock had a trading volume of 1,079,319 shares, compared to its average volume of 1,666,307. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.04 and a current ratio of 1.08. The stock has a market cap of $51.77 billion, a price-to-earnings ratio of 11.71, a P/E/G ratio of 1.59 and a beta of 0.73. MPLX LP has a 12 month low of $39.95 and a 12 month high of $54.87. The business has a 50-day simple moving average of $51.02 and a 200-day simple moving average of $51.27.

MPLX (NYSE:MPLX - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $1.10 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the business posted $0.98 earnings per share. MPLX's quarterly revenue was up 9.8% compared to the same quarter last year. On average, analysts anticipate that MPLX LP will post 4.41 earnings per share for the current fiscal year.

MPLX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 9th were issued a $0.9565 dividend. The ex-dividend date was Friday, May 9th. This represents a $3.83 annualized dividend and a yield of 7.54%. MPLX's dividend payout ratio (DPR) is presently 88.45%.

Analysts Set New Price Targets

A number of research analysts recently commented on MPLX shares. Barclays reduced their target price on MPLX from $55.00 to $52.00 and set an "overweight" rating on the stock in a research note on Monday, May 12th. Morgan Stanley increased their target price on MPLX from $56.00 to $62.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 11th. Finally, Royal Bank Of Canada increased their target price on MPLX from $55.00 to $58.00 and gave the company an "outperform" rating in a research note on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $55.50.

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.