10,240 Shares in Mplx Lp (NYSE:MPLX) Acquired by Plan Group Financial LLC

Key Points

• Plan Group Financial LLC has acquired over 10,000 shares of MPLX LP, valued at approximately $548,000, according to its recent SEC filing.
• Analysts have set a new average target price of $55.63 for MPLX, with a consensus rating of "Moderate Buy," following various changes in analyst ratings.
• MPLX has announced a quarterly dividend of $0.9565 per share, resulting in a 7.3% dividend yield for investors, with the ex-dividend date set for August 8th.

Plan Group Financial LLC acquired a new stake in Mplx Lp (NYSE:MPLX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 10,240 shares of the pipeline company's stock, valued at approximately $548,000.

Several other large investors also recently made changes to their positions in MPLX. Colonial River Investments LLC raised 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 valued at $621,000 after acquiring an additional 200 shares during the period. Axxcess Wealth Management LLC raised 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 valued at $621,000 after acquiring an additional 200 shares during the period. RE Dickinson Investment Advisors LLC raised 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 valued at $96,000 after acquiring an additional 208 shares during the period. B. Riley Wealth Advisors Inc. raised 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 valued at $1,030,000 after acquiring an additional 231 shares during the period. Finally, Cherry Creek Investment Advisors Inc. raised 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 valued at $789,000 after acquiring an additional 254 shares during the period. Institutional investors and hedge funds own 24.25% of the company's stock.

Mplx Stock Performance

MPLX stock traded down $1.11 during trading hours on Friday, hitting $50.41. 1,843,556 shares of the stock were exchanged, compared to its average volume of 1,309,280. The company has a current ratio of 1.03, a quick ratio of 1.04 and a debt-to-equity ratio of 1.40. Mplx Lp has a 12 month low of $39.95 and a 12 month high of $54.87. The firm has a market capitalization of $51.46 billion, a P/E ratio of 11.97, a P/E/G ratio of 1.35 and a beta of 0.73. The company has a 50-day simple moving average of $51.22 and a two-hundred day simple moving average of $51.60.

Mplx (NYSE:MPLX - Get Free Report) last issued its quarterly 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). Mplx had a return on equity of 30.95% and a net margin of 35.44%. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the business posted $1.15 EPS. The firm's revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts forecast that Mplx Lp will post 4.41 earnings per share for the current fiscal 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 $0.9565 dividend. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date of this dividend is Friday, August 8th. Mplx's payout ratio is currently 90.97%.

Wall Street Analysts Forecast Growth

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

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.