Greenup Street Wealth Management LLC Buys Shares of 56,619 Mplx Lp (NYSE:MPLX)

Greenup Street Wealth Management LLC purchased a new stake in Mplx Lp (NYSE:MPLX - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 56,619 shares of the pipeline company's stock, valued at approximately $3,030,000.

Other large investors have also recently bought and sold shares of the company. CFO4Life Group LLC grew its holdings in shares of Mplx by 1.1% during the fourth quarter. CFO4Life Group LLC now owns 19,200 shares of the pipeline company's stock worth $919,000 after purchasing an additional 200 shares during the last quarter. RE Dickinson Investment Advisors LLC grew its holdings in shares of Mplx by 11.5% during the fourth quarter. RE Dickinson Investment Advisors LLC now owns 2,017 shares of the pipeline company's stock worth $96,000 after purchasing an additional 208 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of Mplx by 1.1% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 21,520 shares of the pipeline company's stock worth $1,030,000 after purchasing an additional 231 shares during the last quarter. GraniteShares Advisors LLC grew its holdings in shares of Mplx by 0.5% during the fourth quarter. GraniteShares Advisors LLC now owns 51,441 shares of the pipeline company's stock worth $2,462,000 after purchasing an additional 237 shares during the last quarter. Finally, PSI Advisors LLC grew its holdings in shares of Mplx by 32.5% during the first quarter. PSI Advisors LLC now owns 1,100 shares of the pipeline company's stock worth $59,000 after purchasing an additional 270 shares during the last quarter. 24.25% of the stock is currently owned by institutional investors.

Mplx Trading Down 0.2%

Shares of NYSE:MPLX traded down $0.09 during midday trading on Friday, hitting $51.32. The company had a trading volume of 1,712,292 shares, compared to its average volume of 1,668,682. Mplx Lp has a 12 month low of $39.95 and a 12 month high of $54.87. The firm has a fifty day simple moving average of $50.95 and a 200 day simple moving average of $51.00. The company has a current ratio of 1.08, a quick ratio of 1.04 and a debt-to-equity ratio of 1.40. The stock has a market cap of $52.39 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 1.61 and a beta of 0.74.

Mplx (NYSE:MPLX - Get Free Report) last released its earnings results on Tuesday, May 6th. The pipeline company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.03. Mplx had a return on equity of 32.08% and a net margin of 36.34%. The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. The company's quarterly revenue was up 9.8% on a year-over-year basis. On average, analysts predict that Mplx Lp will post 4.41 EPS for the current year.

Mplx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 9th were paid a $0.9565 dividend. This represents a $3.83 annualized dividend and a yield of 7.46%. The ex-dividend date of this dividend was Friday, May 9th. Mplx's payout ratio is 88.45%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MPLX. Barclays decreased their target price on Mplx from $55.00 to $52.00 and set an "overweight" rating on the stock in a report on Monday, May 12th. Morgan Stanley upped their price target on Mplx from $56.00 to $62.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 11th. Wall Street Zen cut Mplx from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 2nd. Finally, Royal Bank Of Canada boosted their price objective on Mplx from $55.00 to $58.00 and gave the stock an "outperform" rating in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $55.50.

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.