Rehmann Capital Advisory Group Trims Stake in Mplx Lp (NYSE:MPLX)

Rehmann Capital Advisory Group lessened its stake in Mplx Lp (NYSE:MPLX - Free Report) by 31.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,265 shares of the pipeline company's stock after selling 7,546 shares during the period. Rehmann Capital Advisory Group's holdings in Mplx were worth $871,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MPLX. VSM Wealth Advisory LLC acquired a new position in Mplx in the 4th quarter valued at about $31,000. Rossby Financial LCC acquired a new position in Mplx in the 1st quarter valued at about $33,000. JFS Wealth Advisors LLC acquired a new position in Mplx in the 1st quarter valued at about $37,000. MorganRosel Wealth Management LLC purchased a new stake in Mplx in the 1st quarter valued at approximately $48,000. Finally, Generali Asset Management SPA SGR purchased a new stake in Mplx in the 4th quarter valued at approximately $56,000. Institutional investors and hedge funds own 24.25% of the company's stock.

Mplx Price Performance

Shares of NYSE:MPLX traded up $0.25 during trading on Friday, hitting $50.71. 561,003 shares of the stock were exchanged, compared to its average volume of 1,663,044. The company has a fifty day moving average price of $51.01 and a two-hundred day moving average price of $51.28. The company has a market cap of $51.77 billion, a PE ratio of 11.71, a P/E/G ratio of 1.58 and a beta of 0.73. The company has a current ratio of 1.08, 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.

Mplx (NYSE:MPLX - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.07 by $0.03. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $3.15 billion. Mplx had a return on equity of 32.08% and a net margin of 36.34%. The company's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 EPS. On average, analysts forecast that Mplx Lp will post 4.41 EPS for the current year.

Mplx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 9th were paid a $0.9565 dividend. This represents a $3.83 dividend on an annualized basis and a yield of 7.54%. The ex-dividend date was Friday, May 9th. Mplx's payout ratio is currently 88.22%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barclays lifted their price objective on Mplx from $52.00 to $53.00 and gave the company an "overweight" rating in a report on Friday. Royal Bank Of Canada lifted their price objective on Mplx from $55.00 to $58.00 and gave the company an "outperform" rating in a report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.