Mplx Lp $MPLX Stake Lifted by Adams Asset Advisors LLC

Key Points

• Adams Asset Advisors LLC increased its stake in Mplx Lp by 7.1% in Q2, owning 209,589 shares worth approximately $10.8 million, making it the firm's 18th largest position.
• Mplx reported a quarterly earnings per share of $1.03, missing expectations, with a revenue of $2.79 billion, down 1.6% compared to the same quarter last year.
• The company announced a quarterly dividend of $0.9565, with a dividend yield of 7.5% and a payout ratio of 90.97%.

Adams Asset Advisors LLC increased its stake in shares of Mplx Lp (NYSE:MPLX - Free Report) by 7.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 209,589 shares of the pipeline company's stock after buying an additional 13,829 shares during the quarter. Mplx comprises approximately 1.5% of Adams Asset Advisors LLC's holdings, making the stock its 18th largest position. Adams Asset Advisors LLC's holdings in Mplx were worth $10,796,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Wesbanco Bank Inc. grew its stake in Mplx by 38.7% during the 2nd quarter. Wesbanco Bank Inc. now owns 12,230 shares of the pipeline company's stock worth $630,000 after buying an additional 3,411 shares during the last quarter. Somerset Trust Co bought a new position in Mplx during the 2nd quarter worth $264,000. Walnut Private Equity Partners LLC grew its stake in Mplx by 14.8% during the 2nd quarter. Walnut Private Equity Partners LLC now owns 242,300 shares of the pipeline company's stock worth $12,481,000 after buying an additional 31,300 shares during the last quarter. Howard Financial Services LTD. grew its stake in Mplx by 3.7% during the 2nd quarter. Howard Financial Services LTD. now owns 33,676 shares of the pipeline company's stock worth $1,735,000 after buying an additional 1,200 shares during the last quarter. Finally, Rowlandmiller & PARTNERS.ADV grew its stake in Mplx by 11.7% during the 2nd quarter. Rowlandmiller & PARTNERS.ADV now owns 2,434 shares of the pipeline company's stock worth $125,000 after buying an additional 254 shares during the last quarter. 24.25% of the stock is currently owned by institutional investors.

Mplx Trading Up 0.4%

Shares of Mplx stock opened at $51.04 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.03 and a debt-to-equity ratio of 1.40. The firm has a market cap of $52.01 billion, a price-to-earnings ratio of 12.12, a price-to-earnings-growth ratio of 1.39 and a beta of 0.74. The business has a fifty day simple moving average of $50.72 and a 200-day simple moving average of $51.15. Mplx Lp has a fifty-two week low of $43.35 and a fifty-two week high of $54.87.

Mplx (NYSE:MPLX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The pipeline company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.05). The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $3.13 billion. Mplx had a net margin of 35.44% and a return on equity of 30.95%. The company's quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.15 EPS. On average, equities analysts forecast that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were issued a $0.9565 dividend. The ex-dividend date was Friday, August 8th. This represents a $3.83 annualized dividend and a dividend yield of 7.5%. Mplx's dividend payout ratio is 90.97%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Stifel Nicolaus increased their price target on Mplx from $57.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. Wall Street Zen cut Mplx from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Morgan Stanley increased their price target on Mplx from $57.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 26th. Finally, Barclays increased their price target on Mplx from $52.00 to $53.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Seven investment 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 company presently has an average 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.

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