Belpointe Asset Management LLC Buys Shares of 18,693 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 bought a new stake in shares of Mplx Lp (NYSE:MPLX - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 18,693 shares of the pipeline company's stock, valued at approximately $1,000,000.

Other hedge funds have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its stake in Mplx by 17.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 108,988 shares of the pipeline company's stock valued at $5,833,000 after buying an additional 15,807 shares during the last quarter. Obermeyer Wealth Partners increased its stake in shares of Mplx by 18.4% in the 1st quarter. Obermeyer Wealth Partners now owns 35,181 shares of the pipeline company's stock worth $1,883,000 after purchasing an additional 5,476 shares in the last quarter. Jump Financial LLC increased its stake in shares of Mplx by 349.2% in the 1st quarter. Jump Financial LLC now owns 118,600 shares of the pipeline company's stock worth $6,347,000 after purchasing an additional 92,196 shares in the last quarter. Eagle Global Advisors LLC increased its stake in shares of Mplx by 2.1% in the 1st quarter. Eagle Global Advisors LLC now owns 1,896,430 shares of the pipeline company's stock worth $101,497,000 after purchasing an additional 39,427 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in Mplx by 3.6% in the 1st quarter. HighTower Advisors LLC now owns 614,791 shares of the pipeline company's stock worth $32,904,000 after buying an additional 21,225 shares in the last quarter. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Morgan Stanley increased their price objective on shares of Mplx from $57.00 to $60.00 and gave the company an "equal weight" rating in a report on Tuesday, August 26th. Wall Street Zen lowered shares of Mplx from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Stifel Nicolaus increased their price objective 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 increased their price objective 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 analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Mplx currently has an average rating of "Moderate Buy" and a consensus price target of $55.89.

Mplx Stock Performance

Shares of NYSE:MPLX opened at $50.80 on Friday. The firm has a market cap of $51.77 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.36 and a beta of 0.74. The firm's 50 day simple moving average is $50.72 and its 200-day simple moving average is $51.18. Mplx Lp has a one year low of $42.92 and a one year high of $54.87. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.97 and a current ratio of 1.03.

Mplx (NYSE:MPLX - Get Free Report) last issued its earnings results on Tuesday, August 5th. The pipeline company reported $1.03 EPS 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 return on equity of 30.95% and a net margin of 35.44%.The business's revenue was down 1.6% compared to the same quarter last year. During the same period last year, the business posted $1.15 earnings per share. As a group, equities analysts predict 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. Investors of record on Friday, August 8th were issued a dividend of $0.9565 per share. This represents a $3.83 annualized dividend and a yield of 7.5%. The ex-dividend date of this dividend was Friday, August 8th. Mplx's dividend payout ratio (DPR) 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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