Reaves W H & Co. Inc. Has $5.89 Million Holdings in Mplx Lp (NYSE:MPLX)

Key Points

• Reaves W H & Co. Inc. increased its stake in MPLX by 340% in the first quarter, owning 110,000 shares worth approximately $5.89 million.
• MPLX reported $1.10 earnings per share for the last quarter, surpassing analyst estimates, but its revenue of $2.89 billion fell short of expectations.
• The company announced a quarterly dividend of $0.9565 per share, expected to yield 7.3% annually, with a payout ratio of 88.22%.

Reaves W H & Co. Inc. grew its stake in Mplx Lp (NYSE:MPLX - Free Report) by 340.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,000 shares of the pipeline company's stock after buying an additional 85,000 shares during the quarter. Reaves W H & Co. Inc.'s holdings in Mplx were worth $5,887,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Rossby Financial LCC acquired a new position in Mplx during the first quarter worth $33,000. JFS Wealth Advisors LLC acquired a new position in Mplx during the first quarter worth $37,000. MorganRosel Wealth Management LLC acquired a new position in Mplx during the first quarter worth $48,000. PSI Advisors LLC boosted its holdings in Mplx by 32.5% during the first quarter. PSI Advisors LLC now owns 1,100 shares of the pipeline company's stock worth $59,000 after purchasing an additional 270 shares during the last quarter. Finally, Private Trust Co. NA acquired a new position in Mplx during the first quarter worth $65,000. Institutional investors and hedge funds own 24.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MPLX. Barclays increased their target price on shares of Mplx from $52.00 to $53.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Wall Street Zen lowered shares of Mplx from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. One research 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $55.63.

Mplx Stock Performance

Shares of MPLX traded down $1.11 during trading hours on Friday, hitting $50.41. The company had a trading volume of 1,843,556 shares, compared to its average volume of 1,309,280. The firm has a market cap of $51.46 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 1.35 and a beta of 0.73. The business has a fifty day moving average of $51.22 and a 200-day moving average of $51.60. 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 1.03 and a debt-to-equity ratio of 1.40.

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 the consensus estimate of $1.08 by ($0.05). The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $3.13 billion. Mplx had a net margin of 35.44% and a return on equity of 30.95%. Mplx's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.15 earnings per share. Equities analysts anticipate that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Announces Dividend

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

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.