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Pathway Financial Advisers LLC Has $1.73 Million Stock Position in MPLX LP (NYSE:MPLX)

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Key Points

  • Pathway Financial Advisers LLC increased its stake in MPLX by 19.2%, now holding 32,317 shares worth approximately $1.73 million.
  • MPLX recently reported earnings of $1.10 per share, exceeding analysts' expectations, although revenue fell short of estimates at $2.89 billion.
  • The company's latest dividend of $0.9565 reflects a 7.4% yield with a payout ratio of 88.22%.
  • MarketBeat previews the top five stocks to own by September 1st.

Pathway Financial Advisers LLC increased its position in MPLX LP (NYSE:MPLX - Free Report) by 19.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,317 shares of the pipeline company's stock after purchasing an additional 5,207 shares during the quarter. Pathway Financial Advisers LLC's holdings in MPLX were worth $1,730,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MPLX. Rossby Financial LCC acquired a new stake in shares of MPLX in the first quarter valued at $33,000. JFS Wealth Advisors LLC bought a new position in MPLX in the first quarter valued at about $37,000. MorganRosel Wealth Management LLC bought a new position in MPLX in the first quarter valued at about $48,000. PSI Advisors LLC boosted 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. Finally, Private Trust Co. NA bought a new position in MPLX in the first quarter valued at about $65,000. 24.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Stock Report on MPLX

MPLX Stock Up 1.7%

Shares of NYSE:MPLX traded up $0.89 during trading on Monday, hitting $52.74. 1,716,400 shares of the company's stock traded hands, compared to its average volume of 1,116,305. MPLX LP has a 52 week low of $39.95 and a 52 week high of $54.87. 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 company has a market cap of $53.84 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 1.35 and a beta of 0.73. The company has a 50-day moving average price of $51.18 and a 200-day moving average price of $51.61.

MPLX (NYSE:MPLX - Get Free Report) last announced its earnings results on Tuesday, May 6th. The pipeline company reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.03. MPLX had a return on equity of 32.08% and a net margin of 36.34%. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter last year, the firm earned $0.98 EPS. MPLX's revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, research analysts forecast that MPLX LP will post 4.41 EPS for the current fiscal year.

MPLX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 8th will be given a $0.9565 dividend. This represents a $3.83 dividend on an annualized basis and a yield of 7.3%. The ex-dividend date of this dividend is Friday, August 8th. MPLX's dividend payout ratio (DPR) is currently 88.45%.

About MPLX

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for MPLX (NYSE:MPLX)

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