5,120 Shares in MPLX LP $MPLX Acquired by Somerset Trust Co

Key Points

• Somerset Trust Co acquired 5,120 shares of MPLX LP, valued at approximately $264,000, marking the trust's new position in the company during the second quarter.
• Investment analysts have generally rated MPLX as a "Moderate Buy," with a consensus price target of $55.89; recent upgrades have raised price targets from $52.00 to $60.00.
• MPLX announced a quarterly dividend of $0.9565 per share, resulting in an annualized yield of 7.5%, with a payout ratio currently at 90.97%.

Somerset Trust Co purchased a new position in MPLX LP (NYSE:MPLX - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,120 shares of the pipeline company's stock, valued at approximately $264,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MPLX. Rossby Financial LCC purchased a new stake in shares of MPLX in the 1st quarter worth approximately $33,000. JFS Wealth Advisors LLC purchased a new stake in shares of MPLX in the 1st quarter worth approximately $37,000. Wealth Preservation Advisors LLC purchased a new stake in shares of MPLX in the 1st quarter worth approximately $44,000. MorganRosel Wealth Management LLC purchased a new stake in shares of MPLX in the 1st quarter worth approximately $48,000. Finally, PSI Advisors LLC grew its stake in shares of MPLX by 32.5% in the 1st quarter. PSI Advisors LLC now owns 1,100 shares of the pipeline company's stock worth $59,000 after buying an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 24.25% of the company's stock.

Wall Street Analysts Forecast Growth

MPLX has been the topic of several recent research reports. Barclays upped their price target on MPLX from $52.00 to $53.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Morgan Stanley upped their price objective on MPLX from $57.00 to $60.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 26th. Stifel Nicolaus upped their price objective on MPLX from $57.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. Finally, Wall Street Zen cut MPLX from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $55.89.

MPLX Price Performance

NYSE MPLX opened at $51.04 on Monday. The business's fifty day moving average price is $50.72 and its 200-day moving average price is $51.15. The stock has a market capitalization of $52.01 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 1.39 and a beta of 0.74. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.03 and a quick ratio of 0.97. MPLX LP has a 1-year low of $43.35 and a 1-year high of $54.87.

MPLX (NYSE:MPLX - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The pipeline company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.05). The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $3.13 billion. MPLX had a net margin of 35.44% and a return on equity of 30.95%. MPLX's quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.15 earnings per share. On average, equities analysts predict that MPLX LP will post 4.41 earnings per share for the current year.

MPLX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were issued a $0.9565 dividend. This represents a $3.83 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date of this dividend was Friday, August 8th. MPLX's dividend payout ratio (DPR) is currently 90.97%.

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.

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