Jaffetilchin Investment Partners LLC Acquires Shares of 6,434 Mplx Lp (NYSE:MPLX)

Jaffetilchin Investment Partners LLC acquired a new position in shares of Mplx Lp (NYSE:MPLX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,434 shares of the pipeline company's stock, valued at approximately $344,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Creative Financial Designs Inc. ADV acquired a new stake in shares of Mplx during the first quarter valued at about $67,000. Spire Wealth Management boosted its holdings in Mplx by 9.9% in the first quarter. Spire Wealth Management now owns 8,952 shares of the pipeline company's stock valued at $479,000 after purchasing an additional 807 shares during the last quarter. Daymark Wealth Partners LLC grew its stake in Mplx by 6.0% during the 1st quarter. Daymark Wealth Partners LLC now owns 39,974 shares of the pipeline company's stock valued at $2,139,000 after purchasing an additional 2,280 shares in the last quarter. Global Assets Advisory LLC bought a new stake in shares of Mplx in the first quarter worth $230,000. Finally, International Assets Investment Management LLC raised its stake in shares of Mplx by 32.6% in the 1st quarter. International Assets Investment Management LLC now owns 9,644 shares of the pipeline company's stock valued at $516,000 after purchasing an additional 2,370 shares in the last quarter. Hedge funds and other institutional investors own 24.25% of the company's stock.

Mplx Price Performance

Shares of NYSE MPLX traded up $0.34 during trading on Wednesday, hitting $51.13. The company had a trading volume of 598,580 shares, compared to its average volume of 1,667,867. The business's 50-day moving average is $51.14 and its 200 day moving average is $51.14. The company has a market cap of $52.19 billion, a P/E ratio of 11.81, a PEG ratio of 1.60 and a beta of 0.73. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.04 and a current ratio of 1.08. Mplx Lp has a 52 week low of $39.95 and a 52 week high of $54.87.

Mplx (NYSE:MPLX - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 in the prior year, the firm earned $0.98 earnings per share. The firm's revenue was up 9.8% compared to the same quarter last year. Equities research 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 issued 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 7.48%. Mplx's dividend payout ratio (DPR) is currently 88.45%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. 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 report on Monday, March 17th. Morgan Stanley raised their price objective on Mplx from $56.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 11th. Finally, Barclays lowered their target price on shares of Mplx from $55.00 to $52.00 and set an "overweight" rating for the company in a research note on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Mplx has a consensus rating of "Moderate Buy" and an average 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.