Cresset Asset Management LLC Has $1.57 Million Position in Mplx Lp $MPLX

Key Points

• Cresset Asset Management LLC has reduced its stake in MPLX LP by 49.3%, now owning 29,267 shares worth approximately $1.57 million after selling 28,431 shares in the first quarter.
• MPLX reported a quarterly EPS of $1.03, missing estimates by $0.05, with quarterly revenue of $2.79 billion, down 1.6% year-over-year.
• The company declared a quarterly dividend of $0.9565 per share, with a 7.6% dividend yield and a payout ratio of 90.97%.

Cresset Asset Management LLC trimmed its stake in shares of Mplx Lp (NYSE:MPLX - Free Report) by 49.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,267 shares of the pipeline company's stock after selling 28,431 shares during the quarter. Cresset Asset Management LLC's holdings in Mplx were worth $1,566,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Rossby Financial LCC bought a new position in shares of Mplx in the 1st quarter worth about $33,000. JFS Wealth Advisors LLC bought a new position in shares of Mplx in the 1st quarter worth about $37,000. MorganRosel Wealth Management LLC bought a new position in shares of Mplx in the 1st quarter worth about $48,000. PSI Advisors LLC lifted its position in shares of Mplx by 32.5% in the 1st quarter. PSI Advisors LLC now owns 1,100 shares of the pipeline company's stock worth $59,000 after buying an additional 270 shares during the last quarter. Finally, Private Trust Co. NA bought a new position in shares of Mplx in the 1st quarter worth about $65,000. 24.25% of the stock is currently owned by institutional investors.

Mplx Stock Performance

MPLX stock traded down $0.2450 on Monday, reaching $50.4850. 458,069 shares of the company were exchanged, compared to its average volume of 1,608,550. Mplx Lp has a 12 month low of $41.83 and a 12 month high of $54.87. The stock's fifty day moving average price is $50.95 and its 200 day moving average price is $51.45. The firm has a market capitalization of $51.45 billion, a PE ratio of 11.99, a PEG ratio of 1.34 and a beta of 0.73. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.03 and a quick ratio of 0.97.

Mplx (NYSE:MPLX - Get Free Report) last announced 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). Mplx had a return on equity of 30.95% and a net margin of 35.44%.The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period last year, the firm posted $1.15 EPS. The company's revenue was down 1.6% compared to the same quarter last year. On average, research analysts anticipate that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders 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 yield of 7.6%. Mplx's payout ratio is currently 90.97%.

Wall Street Analyst Weigh In

MPLX has been the topic of a number of recent research reports. Wall Street Zen downgraded shares of Mplx from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Stifel Nicolaus lifted their price objective on shares of Mplx from $57.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. Finally, Barclays lifted their price objective on shares of Mplx from $52.00 to $53.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Seven investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.11.

About Mplx

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.