Rehmann Capital Advisory Group Reduces Holdings in Mplx Lp (NYSE:MPLX)

Rehmann Capital Advisory Group lessened its position in shares of Mplx Lp (NYSE:MPLX - Free Report) by 31.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. VSM Wealth Advisory LLC bought a new stake in shares of Mplx during the 4th quarter valued at $31,000. Rossby Financial LCC bought a new stake in shares of Mplx during the 1st quarter valued at $33,000. JFS Wealth Advisors LLC bought a new stake in shares of Mplx during the 1st quarter valued at $37,000. MorganRosel Wealth Management LLC bought a new stake in shares of Mplx during the 1st quarter valued at $48,000. Finally, Generali Asset Management SPA SGR bought a new stake in shares of Mplx during the 4th quarter valued at $56,000. Hedge funds and other institutional investors own 24.25% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MPLX. Barclays decreased their target price on Mplx from $55.00 to $52.00 and set an "overweight" rating on the stock in a research note on Monday, May 12th. Royal Bank Of Canada upped their target price on Mplx from $55.00 to $58.00 and gave the stock an "outperform" rating in a research note on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $55.50.

Mplx Price Performance

Shares of Mplx stock opened at $50.72 on Thursday. 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 firm has a market capitalization of $51.77 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 1.59 and a beta of 0.73. The business's 50-day moving average price is $51.01 and its 200-day moving average price is $51.27. 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 data on Tuesday, May 6th. The pipeline company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.07 by $0.03. The firm 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 revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.98 EPS. Sell-side analysts forecast that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Announces Dividend

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

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