Alpine Global Management LLC Takes Position in Mplx Lp (NYSE:MPLX)

Alpine Global Management LLC purchased a new stake in Mplx Lp (NYSE:MPLX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 6,100 shares of the pipeline company's stock, valued at approximately $292,000.

Several other hedge funds have also modified their holdings of the business. Daymark Wealth Partners LLC grew its holdings in shares of Mplx by 8.0% in the 4th quarter. Daymark Wealth Partners LLC now owns 37,694 shares of the pipeline company's stock worth $1,804,000 after acquiring an additional 2,786 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Mplx by 16.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 52,095 shares of the pipeline company's stock valued at $2,493,000 after buying an additional 7,201 shares in the last quarter. Wesbanco Bank Inc. raised its stake in shares of Mplx by 27.9% during the 4th quarter. Wesbanco Bank Inc. now owns 6,879 shares of the pipeline company's stock worth $329,000 after buying an additional 1,500 shares during the last quarter. Mutual Advisors LLC raised its position in Mplx by 3.2% during the fourth quarter. Mutual Advisors LLC now owns 12,345 shares of the pipeline company's stock worth $627,000 after acquiring an additional 378 shares during the last quarter. Finally, Secure Asset Management LLC lifted its holdings in shares of Mplx by 9.1% in the fourth quarter. Secure Asset Management LLC now owns 5,511 shares of the pipeline company's stock valued at $264,000 after purchasing an additional 459 shares in the last quarter. 24.25% of the stock is owned by institutional investors and hedge funds.

Mplx Stock Performance

Shares of NYSE:MPLX traded down $0.08 during trading on Wednesday, hitting $51.08. 319,122 shares of the company traded hands, compared to its average volume of 1,704,761. The stock has a market capitalization of $52.14 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 1.69 and a beta of 0.76. The business's fifty day moving average is $50.81 and its 200-day moving average is $50.66. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40. Mplx Lp has a one year low of $39.95 and a one year high of $54.87.

Mplx (NYSE:MPLX - Get Free Report) last released its quarterly 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 company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $3.15 billion. Mplx had a net margin of 36.18% and a return on equity of 31.94%. Mplx's revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 EPS. As a group, equities analysts predict that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 9th were given a dividend of $0.9565 per share. The ex-dividend date was Friday, May 9th. This represents a $3.83 dividend on an annualized basis and a yield of 7.49%. Mplx's payout ratio is currently 88.22%.

Insider Activity at Mplx

In other news, VP Shawn M. Lyon acquired 4,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $52.75 per share, for a total transaction of $211,000.00. Following the completion of the transaction, the vice president now directly owns 25,299 shares in the company, valued at $1,334,522.25. This trade represents a 18.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Royal Bank of Canada lifted their price objective on Mplx from $55.00 to $58.00 and gave the stock an "outperform" rating in a research report on Monday, March 17th. Wells Fargo & Company boosted their price target on Mplx from $54.00 to $59.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Barclays reduced their target price on Mplx from $55.00 to $52.00 and set an "overweight" rating on the stock in a research report on Monday, May 12th. Wall Street Zen cut shares of Mplx from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 2nd. Finally, Raymond James boosted their target price on Mplx from $55.00 to $60.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Mplx currently has an average rating of "Moderate Buy" and an average price target of $55.50.

About Mplx

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.