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Applied Capital LLC FL Boosts Position in MPLX LP (NYSE:MPLX)

Mplx logo with Energy background

Applied Capital LLC FL grew its holdings in shares of MPLX LP (NYSE:MPLX - Free Report) by 101.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,570 shares of the pipeline company's stock after buying an additional 8,845 shares during the period. Applied Capital LLC FL's holdings in MPLX were worth $940,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Colonial River Investments LLC lifted its holdings in shares of MPLX by 1.8% in the 1st quarter. Colonial River Investments LLC now owns 11,603 shares of the pipeline company's stock worth $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 worth $621,000 after acquiring an additional 200 shares during the last quarter. RE Dickinson Investment Advisors LLC increased its holdings in MPLX by 11.5% in the 4th quarter. RE Dickinson Investment Advisors LLC now owns 2,017 shares of the pipeline company's stock worth $96,000 after acquiring an additional 208 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake 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 worth $1,030,000 after purchasing an additional 231 shares during the period. Finally, Cherry Creek Investment Advisors Inc. boosted its stake 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 worth $789,000 after purchasing an additional 254 shares during the period. 24.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MPLX. Royal Bank Of Canada lifted their price target on MPLX from $55.00 to $58.00 and gave the company an "outperform" rating in a research report on Monday, March 17th. Barclays boosted their target price on MPLX from $52.00 to $53.00 and gave the stock an "overweight" rating in a research report on Friday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $55.63.

View Our Latest Research Report on MPLX

MPLX Stock Up 0.5%

MPLX stock traded up $0.25 during midday trading on Friday, hitting $50.71. The stock had a trading volume of 1,077,816 shares, compared to its average volume of 1,656,519. The firm has a market cap of $51.76 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.58 and a beta of 0.73. The business has a 50-day moving average of $50.98 and a two-hundred day moving average of $51.32. MPLX LP has a 52-week low of $39.95 and a 52-week high of $54.87. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 1.04.

MPLX (NYSE:MPLX - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.03. MPLX had a return on equity of 32.08% and a net margin of 36.34%. The company had revenue of $2.89 billion for the quarter, compared to analysts' expectations of $3.15 billion. During the same period in the prior year, the firm earned $0.98 earnings per share. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. As a group, equities research analysts forecast that MPLX LP will post 4.41 earnings per share for the current fiscal year.

MPLX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were issued a dividend of $0.9565 per share. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.54%. The ex-dividend date was Friday, May 9th. MPLX's payout ratio is currently 88.45%.

About MPLX

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for MPLX (NYSE:MPLX)

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