Cvfg LLC Invests $1.18 Million in Mplx Lp $MPLX

Key Points

• Cvfg LLC opened a new position in Mplx during the first quarter, buying 20,700 shares valued at about $1.18 million.
• Mplx reported Q1 earnings of $0.90 per share, missing analyst expectations of $1.05, while revenue of $2.86 billion also came in below estimates and declined 2.8% year over year.
• The partnership continues to offer a high dividend yield, with a quarterly payout of $1.0765 per share and an annualized yield of about 7.5%; analysts currently rate the stock a Moderate Buy on average.

Cvfg LLC bought a new position in shares of Mplx Lp (NYSE:MPLX - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 20,700 shares of the pipeline company's stock, valued at approximately $1,181,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. EQ Wealth Advisors LLC acquired a new stake in shares of Mplx in the 4th quarter valued at $32,000. Wiser Advisor Group LLC purchased a new stake in shares of Mplx during the 3rd quarter worth $38,000. Prosperity Bancshares Inc acquired a new position in shares of Mplx during the fourth quarter worth $43,000. Groesbeck Investment Management Corp NJ acquired a new position in shares of Mplx during the fourth quarter worth $49,000. Finally, WFA of San Diego LLC acquired a new position in shares of Mplx during the 2nd quarter worth about $52,000. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Mplx Stock Down 0.2%

Shares of Mplx stock opened at $57.41 on Thursday. Mplx Lp has a one year low of $47.80 and a one year high of $59.98. The company has a market cap of $58.26 billion, a P/E ratio of 12.43, a PEG ratio of 5.52 and a beta of 0.47. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.05 and a current ratio of 1.10. The firm has a fifty day moving average of $56.01 and a two-hundred day moving average of $56.11.

Mplx (NYSE:MPLX - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $1.05 by ($0.15). Mplx had a net margin of 36.38% and a return on equity of 32.74%. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the previous year, the business earned $1.10 EPS. Mplx's revenue for the quarter was down 2.8% on a year-over-year basis. On average, analysts forecast that Mplx Lp will post 4.22 earnings per share for the current year.

Mplx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were given a $1.0765 dividend. The ex-dividend date was Friday, May 8th. This represents a $4.31 annualized dividend and a yield of 7.5%. Mplx's dividend payout ratio is presently 93.29%.

Wall Street Analysts Forecast Growth

MPLX has been the topic of several research analyst reports. UBS Group lifted their price target on shares of Mplx from $64.00 to $73.00 and gave the stock a "buy" rating in a research note on Monday, March 16th. Morgan Stanley decreased their price objective on shares of Mplx from $62.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 20th. Wells Fargo & Company dropped their price objective on Mplx from $63.00 to $61.00 and set an "overweight" rating on the stock in a report on Thursday, May 7th. Weiss Ratings downgraded Mplx from a "buy (a)" rating to a "buy (a-)" rating in a report on Monday, May 18th. Finally, Wall Street Zen downgraded Mplx from a "buy" rating to a "hold" rating in a research note on Saturday, April 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $61.60.

Mplx Profile

MPLX LP NYSE: MPLX is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership's asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.

Want to see what other hedge funds are holding MPLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mplx Lp (NYSE:MPLX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.