Kingstone Capital Partners Texas LLC Invests $776.89 Million in Mplx Lp $MPLX

Key Points

• Kingstone Capital Partners Texas LLC purchased over 15 million shares of MPLX LP, valued at approximately $776.9 million, representing 1.48% of the company as of the latest SEC filing.
• MPLX LP recently declared a quarterly dividend of $0.9565, yielding about 7.5%, with a payout ratio of 90.97%.
• Analysts have a consensus target price of $55.89 for MPLX, with seven ratings as "Buy" and one as "Hold," suggesting a favorable outlook.

Kingstone Capital Partners Texas LLC acquired a new position in Mplx Lp (NYSE:MPLX - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 15,082,390 shares of the pipeline company's stock, valued at approximately $776,894,000. Kingstone Capital Partners Texas LLC owned about 1.48% of Mplx at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rossby Financial LCC acquired a new position in shares of Mplx during the 1st quarter worth approximately $33,000. JFS Wealth Advisors LLC acquired a new position in Mplx in the first quarter valued at approximately $37,000. Wealth Preservation Advisors LLC acquired a new position in Mplx in the first quarter valued at approximately $44,000. MorganRosel Wealth Management LLC acquired a new position in Mplx in the first quarter valued at approximately $48,000. Finally, PSI Advisors LLC lifted its holdings in Mplx by 32.5% in the first quarter. PSI Advisors LLC now owns 1,100 shares of the pipeline company's stock valued at $59,000 after acquiring an additional 270 shares during the last quarter. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Mplx Stock Down 0.5%

Shares of Mplx stock traded down $0.24 during trading hours on Monday, reaching $50.09. 1,243,262 shares of the company were exchanged, compared to its average volume of 1,582,319. Mplx Lp has a 1 year low of $43.53 and a 1 year high of $54.87. The stock's fifty day moving average is $50.74 and its 200 day moving average is $51.06. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.97 and a current ratio of 1.03. The firm has a market cap of $51.05 billion, a PE ratio of 11.90, a PEG ratio of 1.36 and a beta of 0.74.

Mplx (NYSE:MPLX - Get Free Report) last issued its earnings results on Tuesday, August 5th. The pipeline company reported $1.03 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.05). The firm 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 for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.15 EPS. As a group, equities research analysts forecast that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were paid a dividend of $0.9565 per share. The ex-dividend date was Friday, August 8th. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.6%. Mplx's payout ratio is presently 90.97%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Morgan Stanley upped their price objective on Mplx from $57.00 to $60.00 and gave the company an "equal weight" rating in a report on Tuesday, August 26th. Barclays boosted their target price on Mplx from $52.00 to $53.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Stifel Nicolaus boosted their target price on Mplx from $57.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. Finally, Wall Street Zen lowered Mplx from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus 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.