Corigliano Investment Advisers LLC Purchases New Holdings in Mplx Lp $MPLX

Key Points

• Corigliano Investment Advisers LLC has acquired a new stake in MPLX LP, buying 28,000 shares valued at approximately $1,499,000, which represents 0.7% of its total holdings.
• MPLX recently reported quarterly earnings of $1.03 per share, missing estimates, and recorded a revenue of $2.79 billion, down 1.6% compared to the previous year.
• The company announced a quarterly dividend of $0.9565 per share, offering an annualized yield of 7.5% with a payout ratio of 90.97%.

Corigliano Investment Advisers LLC acquired a new position in Mplx Lp (NYSE:MPLX - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 28,000 shares of the pipeline company's stock, valued at approximately $1,499,000. Mplx makes up 0.7% of Corigliano Investment Advisers LLC's investment portfolio, making the stock its 27th biggest holding.

Several other institutional investors have also recently modified their holdings of MPLX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Mplx by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,904,477 shares of the pipeline company's stock valued at $330,448,000 after buying an additional 266,998 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Mplx by 17.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 108,988 shares of the pipeline company's stock valued at $5,833,000 after acquiring an additional 15,807 shares during the last quarter. Obermeyer Wealth Partners raised its stake in shares of Mplx by 18.4% during the first quarter. Obermeyer Wealth Partners now owns 35,181 shares of the pipeline company's stock worth $1,883,000 after acquiring an additional 5,476 shares in the last quarter. Jump Financial LLC raised its stake in shares of Mplx by 349.2% during the first quarter. Jump Financial LLC now owns 118,600 shares of the pipeline company's stock worth $6,347,000 after acquiring an additional 92,196 shares in the last quarter. Finally, Eagle Global Advisors LLC lifted its holdings 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 acquiring an additional 39,427 shares during the last quarter. 24.25% of the stock is currently owned by institutional investors.

Mplx Trading Down 0.8%

Shares of NYSE:MPLX traded down $0.39 on Monday, hitting $50.12. The company had a trading volume of 1,230,610 shares, compared to its average volume of 1,595,303. The firm's 50-day simple moving average is $50.79 and its two-hundred day simple moving average is $51.24. The firm has a market capitalization of $51.08 billion, a price-to-earnings ratio of 11.91, a P/E/G ratio of 1.38 and a beta of 0.74. 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 Lp has a 1 year low of $42.29 and a 1 year high of $54.87.

Mplx (NYSE:MPLX - Get Free Report) last released its quarterly 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). 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 the consensus estimate of $3.13 billion. During the same period in the previous year, the company earned $1.15 earnings per share. Mplx's quarterly revenue was down 1.6% on a year-over-year basis. Equities analysts anticipate that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were given a dividend of $0.9565 per share. The ex-dividend date was Friday, August 8th. This represents a $3.83 annualized dividend and a dividend yield of 7.6%. Mplx's payout ratio is currently 90.97%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Morgan Stanley increased their target price 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. Barclays upped their price target on shares of Mplx from $52.00 to $53.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Stifel Nicolaus lifted their price objective on Mplx from $57.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. Finally, Wall Street Zen lowered Mplx from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Mplx has a consensus rating of "Moderate Buy" and an average price target of $55.89.

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.