Belpointe Asset Management LLC Takes Position in Mplx Lp $MPLX

Key Points

• Belpointe Asset Management LLC acquired 18,693 shares of Mplx Lp valued at roughly $1 million in the first quarter.
• Mplx reported a quarterly EPS of $1.03, falling short of analysts' expectations of $1.08, with revenue of $2.79 billion compared to expectations of $3.13 billion.
• The company announced a quarterly dividend of $0.9565 per share, representing a 7.5% annual yield, with a dividend payout ratio of 90.97%.

Belpointe Asset Management LLC purchased a new stake in Mplx Lp (NYSE:MPLX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 18,693 shares of the pipeline company's stock, valued at approximately $1,000,000.

A number of other large investors also recently modified their holdings of the business. Integrity Alliance LLC. bought a new stake in Mplx in the first quarter valued at $712,000. Glenview Trust co acquired a new position in Mplx in the first quarter valued at about $214,000. Zurich Insurance Group Ltd FI bought a new stake in shares of Mplx in the first quarter worth about $2,269,000. Goldman Sachs Group Inc. grew its holdings in shares of Mplx by 0.6% during the first quarter. Goldman Sachs Group Inc. now owns 13,649,224 shares of the pipeline company's stock worth $730,506,000 after buying an additional 83,392 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Mplx by 4.1% during the first quarter. NewEdge Advisors LLC now owns 24,049 shares of the pipeline company's stock worth $1,287,000 after buying an additional 939 shares in the last quarter. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MPLX shares. Wall Street Zen cut Mplx from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Stifel Nicolaus lifted their price target on Mplx from $57.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, August 14th. Morgan Stanley lifted their target price on Mplx from $57.00 to $60.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 26th. Finally, Barclays boosted their price objective on Mplx from $52.00 to $53.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Seven 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.89.

Mplx Stock Up 0.2%

Mplx stock traded up $0.08 during trading hours on Wednesday, hitting $51.14. 338,183 shares of the stock traded hands, compared to its average volume of 1,583,134. The firm's 50-day moving average price is $50.74 and its two-hundred day moving average price is $51.13. Mplx Lp has a one year low of $43.53 and a one year high of $54.87. The company has a market cap of $52.12 billion, a PE ratio of 12.15, a PEG ratio of 1.40 and a beta of 0.74. The company has a current ratio of 1.03, a quick ratio of 0.97 and a debt-to-equity ratio of 1.40.

Mplx (NYSE:MPLX - Get Free Report) last announced its earnings results on Tuesday, August 5th. The pipeline company reported $1.03 earnings per share for the quarter, missing analysts' consensus estimates of $1.08 by ($0.05). The company had revenue of $2.79 billion for 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 quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.15 earnings per share. On average, research analysts forecast that Mplx Lp will post 4.41 EPS for the current year.

Mplx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were paid a dividend of $0.9565 per share. 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 (DPR) is currently 90.97%.

Mplx 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.