Atwood & Palmer Inc. Invests $301,000 in Mplx Lp $MPLX

Key Points

• Atwood & Palmer Inc. has invested approximately $301,000 in Mplx Lp, acquiring 5,844 shares during the 2nd quarter.
• Analysts have mixed ratings for Mplx, with seven ratings classified as Buy and a current average target price of $55.89.
• Mplx recently announced a quarterly dividend of $0.9565, representing an annualized yield of 7.5% and a dividend payout ratio of 90.97%.

Atwood & Palmer Inc. acquired a new stake in shares of Mplx Lp (NYSE:MPLX - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,844 shares of the pipeline company's stock, valued at approximately $301,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rossby Financial LCC bought a new stake in shares of Mplx during the first quarter valued at about $33,000. JFS Wealth Advisors LLC bought a new stake in shares of Mplx during the first quarter valued at about $37,000. Wealth Preservation Advisors LLC bought a new stake in shares of Mplx during the first quarter valued at about $44,000. MorganRosel Wealth Management LLC bought a new stake in shares of Mplx during the first quarter valued at about $48,000. Finally, PSI Advisors LLC raised its stake in shares of Mplx by 32.5% during the first quarter. PSI Advisors LLC now owns 1,100 shares of the pipeline company's stock valued at $59,000 after purchasing an additional 270 shares in the last quarter. 24.25% of the stock is currently owned by institutional investors.

Mplx Stock Performance

MPLX traded down $0.27 on Friday, hitting $50.49. The company had a trading volume of 522,880 shares, compared to its average volume of 1,578,142. The company's fifty day moving average price is $50.75 and its 200 day moving average price is $51.11. Mplx Lp has a 1-year low of $43.53 and a 1-year high of $54.87. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.03 and a quick ratio of 0.97. The stock has a market cap of $51.45 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 1.39 and a beta of 0.74.

Mplx (NYSE:MPLX - Get Free Report) last posted its 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). Mplx had a return on equity of 30.95% and a net margin of 35.44%.The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the firm posted $1.15 earnings per share. The firm's revenue for the quarter was down 1.6% compared to the same quarter last year. Equities 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, August 15th. Investors of record on Friday, August 8th were issued a $0.9565 dividend. This represents a $3.83 annualized dividend and a yield of 7.6%. The ex-dividend date was Friday, August 8th. Mplx's payout ratio is 90.97%.

Analyst Ratings Changes

Several brokerages have commented on MPLX. Morgan Stanley boosted their price target on shares of Mplx from $57.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 26th. Wall Street Zen cut shares of Mplx from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Stifel Nicolaus boosted their price target on shares of Mplx from $57.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. Finally, Barclays boosted their price target on shares of Mplx from $52.00 to $53.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Mplx has a consensus rating of "Moderate Buy" and an average price target 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.