Mplx Lp (NYSE:MPLX) Stake Lessened by Chicago Partners Investment Group LLC

Key Points

• Chicago Partners Investment Group LLC reduced its stake in Mplx Lp by 3.0%, owning 471,522 shares worth approximately $23.22 million after selling 14,735 shares.
• Mplx reported an earnings miss for the recent quarter with an EPS of $1.03, falling short of estimates by $0.05, while revenue totaled $2.79 billion against expectations of $3.13 billion.
• The firm announced a quarterly dividend of $0.9565 per share, equating to a 7.5% dividend yield, with a payout ratio of 88.45%.

Chicago Partners Investment Group LLC cut its stake in Mplx Lp (NYSE:MPLX - Free Report) by 3.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 471,522 shares of the pipeline company's stock after selling 14,735 shares during the period. Mplx makes up approximately 0.8% of Chicago Partners Investment Group LLC's investment portfolio, making the stock its 27th biggest position. Chicago Partners Investment Group LLC's holdings in Mplx were worth $23,222,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MPLX. Colonial River Investments LLC boosted its stake in Mplx by 1.8% in the 1st quarter. Colonial River Investments LLC now owns 11,603 shares of the pipeline company's stock worth $621,000 after purchasing an additional 200 shares during the period. Axxcess Wealth Management LLC boosted its stake in Mplx by 1.8% in the 1st quarter. Axxcess Wealth Management LLC now owns 11,603 shares of the pipeline company's stock worth $621,000 after purchasing an additional 200 shares during the period. RE Dickinson Investment Advisors LLC boosted its stake in Mplx by 11.5% in the 4th quarter. RE Dickinson Investment Advisors LLC now owns 2,017 shares of the pipeline company's stock worth $96,000 after purchasing an additional 208 shares during the period. B. Riley Wealth Advisors Inc. boosted its stake in Mplx by 1.1% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 21,520 shares of the pipeline company's stock worth $1,030,000 after purchasing an additional 231 shares during the period. Finally, Cherry Creek Investment Advisors Inc. boosted its stake in Mplx by 1.8% in the 1st quarter. Cherry Creek Investment Advisors Inc. now owns 14,743 shares of the pipeline company's stock worth $789,000 after purchasing an additional 254 shares during the period. 24.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MPLX has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of Mplx from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Barclays raised their price objective on shares of Mplx from $52.00 to $53.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.63.

Mplx Stock Up 0.8%

MPLX stock opened at $51.25 on Thursday. Mplx Lp has a 12-month low of $39.95 and a 12-month high of $54.87. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The company has a market cap of $52.31 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 1.33 and a beta of 0.73. The company has a 50 day moving average of $51.22 and a two-hundred day moving average of $51.61.

Mplx (NYSE:MPLX - Get Free Report) last released its earnings results on Tuesday, August 5th. The pipeline company reported $1.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.08 by ($0.05). The company had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $3.13 billion. Mplx had a return on equity of 31.04% and a net margin of 35.44%. The firm's quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.15 EPS. On average, equities analysts anticipate that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 8th will be issued a dividend of $0.9565 per share. The ex-dividend date is Friday, August 8th. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.5%. Mplx's dividend payout ratio (DPR) is currently 88.45%.

About Mplx

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.

Want to see what other hedge funds are holding MPLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mplx Lp (NYSE:MPLX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.