Jump Financial LLC Raises Stock Position in Mplx Lp $MPLX

Key Points

• Jump Financial LLC increased its stake in Mplx Lp by 349.2% in the first quarter, acquiring an additional 92,196 shares and totaling 118,600 shares valued at $6.35 million.
• The recent earnings report from Mplx showed an EPS of $1.03, which missed the consensus estimate and reflected a 1.6% year-over-year revenue decline.
• Mplx declared a quarterly dividend of $0.9565, representing an annualized yield of 7.5%, with a dividend payout ratio of approximately 90.97%.

Jump Financial LLC lifted its holdings in Mplx Lp (NYSE:MPLX - Free Report) by 349.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 118,600 shares of the pipeline company's stock after acquiring an additional 92,196 shares during the quarter. Jump Financial LLC's holdings in Mplx were worth $6,347,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Colonial River Investments LLC increased its holdings in Mplx by 1.8% in the first quarter. Colonial River Investments LLC now owns 11,603 shares of the pipeline company's stock valued at $621,000 after buying an additional 200 shares in the last quarter. Axxcess Wealth Management LLC increased its holdings in Mplx by 1.8% in the first quarter. Axxcess Wealth Management LLC now owns 11,603 shares of the pipeline company's stock valued at $621,000 after buying an additional 200 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its position in shares of Mplx by 1.1% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 21,520 shares of the pipeline company's stock valued at $1,030,000 after purchasing an additional 231 shares during the period. Cherry Creek Investment Advisors Inc. grew its position in shares of Mplx by 1.8% in the first quarter. Cherry Creek Investment Advisors Inc. now owns 14,743 shares of the pipeline company's stock valued at $789,000 after purchasing an additional 254 shares during the period. Finally, Stratos Wealth Advisors LLC grew its position in shares of Mplx by 2.2% in the first quarter. Stratos Wealth Advisors LLC now owns 12,157 shares of the pipeline company's stock valued at $651,000 after purchasing an additional 257 shares during the period. Institutional investors and hedge funds own 24.25% of the company's stock.

Mplx Price Performance

MPLX traded up $0.50 on Friday, reaching $50.93. 903,838 shares of the company's stock were exchanged, compared to its average volume of 1,601,756. The stock has a market cap of $51.90 billion, a PE ratio of 12.10, a P/E/G ratio of 1.34 and a beta of 0.73. Mplx Lp has a twelve month low of $42.06 and a twelve month high of $54.87. The stock's fifty day moving average price is $50.87 and its 200-day moving average price is $51.39. 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 posted 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 business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $3.13 billion. Mplx had a return on equity of 30.95% and a net margin of 35.44%.The business's revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.15 earnings per share. Sell-side analysts expect that Mplx Lp will post 4.41 EPS for the current year.

Mplx Dividend Announcement

The company also recently announced 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 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 payout ratio is 90.97%.

Analysts Set New Price Targets

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

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.