CW Advisors LLC Acquires New Position in MPLX LP $MPLX

Key Points

• CW Advisors LLC recently acquired a new position in Mplx Lp, purchasing 11,642 shares valued at approximately $624,000 during the first quarter.
• Wall Street analysts have mixed ratings on Mplx, with seven analysts$55.89, significantly boosted by firms like Stifel Nicolaus and Barclays.
• Mplx reported a decline in earnings, with $1.03 earnings per share for the last quarter, missing estimates, alongside a recently announced quarterly dividend with a yield of 7.5%.

CW Advisors LLC acquired a new position in MPLX LP (NYSE:MPLX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 11,642 shares of the pipeline company's stock, valued at approximately $624,000.

Several other institutional investors have also recently modified their holdings of the company. Northern Trust Corp raised its stake in shares of MPLX by 768.0% in the first quarter. Northern Trust Corp now owns 316,111 shares of the pipeline company's stock worth $16,918,000 after purchasing an additional 279,693 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of MPLX in the first quarter worth about $77,000. Cascade Financial Partners LLC boosted its stake in shares of MPLX by 4.1% in the first quarter. Cascade Financial Partners LLC now owns 10,026 shares of the pipeline company's stock worth $537,000 after buying an additional 399 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of MPLX by 23.1% in the first quarter. Steward Partners Investment Advisory LLC now owns 66,265 shares of the pipeline company's stock worth $3,547,000 after buying an additional 12,438 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its stake in shares of MPLX by 0.3% in the first quarter. Raymond James Financial Inc. now owns 878,606 shares of the pipeline company's stock worth $47,023,000 after buying an additional 2,781 shares during the last quarter. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MPLX has been the topic of a number of recent research reports. Stifel Nicolaus upped their target price on MPLX from $57.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. Morgan Stanley upped their target price on MPLX from $57.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 26th. Barclays upped their target price on MPLX from $52.00 to $53.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Finally, Wall Street Zen downgraded 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 assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, MPLX has an average rating of "Moderate Buy" and an average target price of $55.89.

MPLX Price Performance

MPLX stock traded up $0.50 during midday trading on Monday, reaching $50.93. The company had a trading volume of 1,340,648 shares, compared to its average volume of 1,522,597. The company has a market capitalization of $51.90 billion, a P/E ratio of 12.10, a P/E/G ratio of 1.36 and a beta of 0.74. MPLX LP has a 12-month low of $42.06 and a 12-month high of $54.87. The firm's fifty day simple moving average is $50.86 and its 200-day simple moving average is $51.33. 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 issued its quarterly 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 during 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%. The company's quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.15 earnings per share. As a group, equities analysts anticipate that MPLX LP will post 4.41 EPS for the current year.

MPLX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were paid a $0.9565 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $3.83 dividend on an annualized basis and a yield of 7.5%. MPLX's dividend payout ratio (DPR) is currently 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.