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 position in shares of Mplx Lp (NYSE:MPLX - Free Report) in the 2nd quarter, according to its most recent 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 made changes to their positions in the company. Rossby Financial LCC acquired a new position in shares of Mplx during the first quarter worth approximately $33,000. JFS Wealth Advisors LLC acquired a new position in shares of Mplx during the first quarter worth approximately $37,000. Wealth Preservation Advisors LLC acquired a new position in shares of Mplx during the first quarter worth approximately $44,000. MorganRosel Wealth Management LLC acquired a new stake in Mplx in the first quarter worth approximately $48,000. Finally, PSI Advisors LLC lifted its position in Mplx by 32.5% in the first quarter. PSI Advisors LLC now owns 1,100 shares of the pipeline company's stock worth $59,000 after purchasing an additional 270 shares during the period. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MPLX has been the subject of a number of research analyst reports. Wall Street Zen downgraded Mplx from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Barclays upped their target price on Mplx from $52.00 to $53.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Morgan Stanley upped their target price on Mplx from $57.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 26th. Finally, Stifel Nicolaus increased their price objective on Mplx from $57.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $55.89.

Mplx Price Performance

MPLX opened at $51.04 on Monday. The stock has a fifty day moving average of $50.72 and a 200-day moving average of $51.15. The firm has a market capitalization of $52.01 billion, a P/E ratio of 12.12, a PEG ratio of 1.39 and a beta of 0.74. Mplx Lp has a 12-month low of $43.35 and a 12-month high of $54.87. 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 (NYSE:MPLX - Get Free Report) last released its earnings results on Tuesday, August 5th. The pipeline company reported $1.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.08 by ($0.05). The business had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $3.13 billion. Mplx had a net margin of 35.44% and a return on equity of 30.95%. Mplx's revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.15 EPS. Equities analysts forecast that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were issued a $0.9565 dividend. The ex-dividend date was Friday, August 8th. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.5%. Mplx's dividend payout ratio is presently 90.97%.

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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