CW Advisors LLC Makes New $624,000 Investment 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 bought a new position in MPLX LP (NYSE:MPLX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 11,642 shares of the pipeline company's stock, valued at approximately $624,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Goldman Sachs Group Inc. boosted its position in shares of MPLX by 0.6% in the first quarter. Goldman Sachs Group Inc. now owns 13,649,224 shares of the pipeline company's stock worth $730,506,000 after buying an additional 83,392 shares during the period. Kayne Anderson Capital Advisors LP boosted its position in shares of MPLX by 38.2% in the first quarter. Kayne Anderson Capital Advisors LP now owns 7,788,063 shares of the pipeline company's stock worth $416,817,000 after buying an additional 2,153,490 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of MPLX by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,904,477 shares of the pipeline company's stock worth $330,448,000 after buying an additional 266,998 shares during the period. JPMorgan Chase & Co. boosted its position in shares of MPLX by 14.9% in the first quarter. JPMorgan Chase & Co. now owns 5,045,968 shares of the pipeline company's stock worth $270,060,000 after buying an additional 654,489 shares during the period. Finally, BROOKFIELD Corp ON boosted its position in shares of MPLX by 1.9% in the fourth quarter. BROOKFIELD Corp ON now owns 4,221,615 shares of the pipeline company's stock worth $202,047,000 after buying an additional 79,799 shares during the period. Institutional investors and hedge funds own 24.25% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on MPLX shares. Morgan Stanley raised their target price on MPLX from $57.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Barclays raised their target price on MPLX from $52.00 to $53.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Stifel Nicolaus raised their target price on MPLX from $57.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. Finally, Wall Street Zen cut MPLX from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $55.89.

MPLX Stock Up 1.0%

MPLX traded up $0.50 during trading on Friday, reaching $50.93. 1,340,648 shares of the stock traded hands, compared to its average volume of 1,522,122. The stock has a market cap of $51.90 billion, a price-to-earnings ratio of 12.10, a price-to-earnings-growth ratio of 1.35 and a beta of 0.73. MPLX LP has a fifty-two week low of $42.06 and a fifty-two week high of $54.87. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.03 and a quick ratio of 0.97. The stock's 50-day simple moving average is $50.86 and its two-hundred day simple moving average is $51.37.

MPLX (NYSE:MPLX - Get Free Report) last announced 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). 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 analyst estimates of $3.13 billion. During the same period in the prior year, the firm earned $1.15 EPS. MPLX's quarterly revenue was down 1.6% on a year-over-year basis. As a group, equities research analysts expect that MPLX LP will post 4.41 EPS for the current year.

MPLX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 8th were given 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 dividend yield of 7.5%. MPLX's payout ratio 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.