592,056 Shares in Mplx Lp $MPLX Acquired by Northside Capital Management LLC

Key Points

• Northside Capital Management LLC acquired 592,056 shares of Mplx LP, valued at approximately $30.5 million, making it the company's 9th biggest holding.
• Mplx reported a quarterly earnings miss with EPS of $1.03, below analysts' expectations of $1.08, and a revenue of $2.79 billion, which was short of the $3.13 billion consensus estimate.
• The company announced a quarterly dividend of $0.9565, resulting in an annualized dividend yield of 7.6% and a payout ratio of 90.74%.

Northside Capital Management LLC bought a new position in shares of Mplx Lp (NYSE:MPLX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 592,056 shares of the pipeline company's stock, valued at approximately $30,497,000. Mplx comprises 2.3% of Northside Capital Management LLC's portfolio, making the stock its 9th biggest holding. Northside Capital Management LLC owned approximately 0.06% of Mplx as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of MPLX. Colonial River Investments LLC increased its holdings in Mplx by 1.8% in the 1st quarter. Colonial River Investments LLC now owns 11,603 shares of the pipeline company's stock valued at $621,000 after purchasing an additional 200 shares in the last quarter. Axxcess Wealth Management LLC increased its holdings in Mplx by 1.8% in the 1st quarter. Axxcess Wealth Management LLC now owns 11,603 shares of the pipeline company's stock valued at $621,000 after purchasing an additional 200 shares in the last quarter. Fifth Third Bancorp increased its holdings in Mplx by 7.7% in the 2nd quarter. Fifth Third Bancorp now owns 3,165 shares of the pipeline company's stock valued at $163,000 after purchasing an additional 227 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in Mplx by 1.1% in 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 holdings in Mplx by 1.8% in the 1st quarter. Cherry Creek Investment Advisors Inc. now owns 14,743 shares of the pipeline company's stock valued at $789,000 after purchasing an additional 254 shares in the last quarter. Institutional investors and hedge funds own 24.25% of the company's stock.

Mplx Price Performance

Shares of NYSE:MPLX opened at $50.06 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.03 and a debt-to-equity ratio of 1.40. Mplx Lp has a fifty-two week low of $43.53 and a fifty-two week high of $54.87. The firm has a 50-day simple moving average of $50.71 and a 200 day simple moving average of $51.04. The company has a market cap of $51.02 billion, a PE ratio of 11.89, a P/E/G ratio of 1.36 and a beta of 0.74.

Mplx (NYSE:MPLX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The pipeline company reported $1.03 earnings per share for the quarter, missing analysts' consensus estimates of $1.08 by ($0.05). Mplx had a net margin of 35.44% and a return on equity of 30.95%. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the prior year, the company earned $1.15 EPS. Mplx's quarterly revenue was down 1.6% on a year-over-year basis. On average, sell-side analysts anticipate that Mplx Lp will post 4.41 EPS for the current year.

Mplx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 8th were given a $0.9565 dividend. The ex-dividend date was Friday, August 8th. This represents a $3.83 annualized dividend and a yield of 7.6%. Mplx's dividend payout ratio is 90.74%.

Analyst Upgrades and Downgrades

MPLX has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price objective on shares of Mplx from $57.00 to $60.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 26th. Barclays boosted their price objective on shares of Mplx from $52.00 to $53.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Wells Fargo & Company cut their price objective on shares of Mplx from $60.00 to $59.00 and set an "overweight" rating on the stock in a report on Tuesday. Stifel Nicolaus boosted their price objective on shares of Mplx from $57.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. Finally, Wall Street Zen lowered shares of Mplx from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $55.89.

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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