LPL Financial LLC Grows Stock Position in Mplx Lp (NYSE:MPLX)

Key Points

• LPL Financial LLC increased its stake in MPLX LP by 4.5%, owning 331,772 shares worth $17.76 million after acquiring an additional 14,224 shares in the first quarter.
• MPLX reported a quarterly earnings per share (EPS) of $1.03, missing analyst estimates of $1.08, with revenues at $2.79 billion, which is down 1.6% year-over-year.
• The company is set to pay a quarterly dividend of $0.9565 per share, with a dividend yield of 7.5%, reflecting a payout ratio of 88.45%.

LPL Financial LLC boosted its stake in shares of Mplx Lp (NYSE:MPLX - Free Report) by 4.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 331,772 shares of the pipeline company's stock after buying an additional 14,224 shares during the period. LPL Financial LLC's holdings in Mplx were worth $17,756,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MPLX. Rossby Financial LCC bought a new position in Mplx in the 1st quarter valued at $33,000. JFS Wealth Advisors LLC bought a new position in Mplx in the 1st quarter valued at $37,000. MorganRosel Wealth Management LLC bought a new position in Mplx in the 1st quarter valued at $48,000. PSI Advisors LLC grew its position in Mplx by 32.5% in the 1st 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. Finally, Private Trust Co. NA bought a new position in Mplx in the 1st quarter valued at $65,000. Hedge funds and other institutional investors own 24.25% of the company's stock.

Mplx Stock Down 2.2%

Shares of NYSE MPLX traded down $1.11 during mid-day trading on Friday, reaching $50.41. 1,843,556 shares of the company were exchanged, compared to its average volume of 1,309,280. The company has a quick ratio of 1.04, a current ratio of 1.03 and a debt-to-equity ratio of 1.40. The stock has a market cap of $51.46 billion, a price-to-earnings ratio of 11.97, a P/E/G ratio of 1.35 and a beta of 0.73. Mplx Lp has a 1 year low of $39.95 and a 1 year high of $54.87. The firm has a 50-day moving average of $51.22 and a 200 day moving average of $51.60.

Mplx (NYSE:MPLX - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $3.13 billion. Mplx had a return on equity of 30.95% and a net margin of 35.44%. The company's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.15 earnings per share. On average, research analysts expect that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MPLX. Wall Street Zen downgraded Mplx from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Barclays increased their price target on Mplx from $52.00 to $53.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $55.63.

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.