Steward Partners Investment Advisory LLC Purchases 12,438 Shares of Mplx Lp $MPLX

Key Points

• Steward Partners Investment Advisory LLC increased its position in Mplx Lp by 23.1%, owning 66,265 shares valued at approximately $3,547,000 at the end of Q1.
• Mplx recently missed earnings expectations, reporting $1.03 earnings per share against a consensus estimate of $1.08, with revenue falling to $2.79 billion.
• The company declared a quarterly dividend of $0.9565 per share, resulting in an annualized yield of 7.7% and a dividend payout ratio of 90.97%.

Steward Partners Investment Advisory LLC boosted its holdings in shares of Mplx Lp (NYSE:MPLX - Free Report) by 23.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,265 shares of the pipeline company's stock after purchasing an additional 12,438 shares during the period. Steward Partners Investment Advisory LLC's holdings in Mplx were worth $3,547,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Rossby Financial LCC acquired a new position in Mplx during the 1st quarter worth $33,000. JFS Wealth Advisors LLC acquired a new stake in Mplx during the 1st quarter worth $37,000. MorganRosel Wealth Management LLC acquired a new stake in Mplx during the 1st quarter worth $48,000. PSI Advisors LLC grew its holdings in Mplx by 32.5% during the 1st quarter. PSI Advisors LLC now owns 1,100 shares of the pipeline company's stock worth $59,000 after acquiring an additional 270 shares during the period. Finally, Private Trust Co. NA acquired a new stake in Mplx during the 1st quarter worth $65,000. 24.25% of the stock is owned by institutional investors and hedge funds.

Mplx Stock Up 0.4%

MPLX stock traded up $0.2030 during midday trading on Friday, reaching $50.6830. 753,015 shares of the company's stock traded hands, compared to its average volume of 1,593,624. The company has a market cap of $51.65 billion, a price-to-earnings ratio of 12.04, a P/E/G ratio of 1.34 and a beta of 0.73. The firm's fifty day moving average price is $50.95 and its 200-day moving average price is $51.46. The company has a quick ratio of 0.97, a current ratio of 1.03 and a debt-to-equity ratio of 1.40. Mplx Lp has a 52 week low of $41.83 and a 52 week high of $54.87.

Mplx (NYSE:MPLX - Get Free Report) last announced 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). The business had revenue of $2.79 billion for 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%. The business's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.15 EPS. As a group, sell-side 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 was paid on Friday, August 15th. Shareholders of record on Friday, August 8th were paid a dividend of $0.9565 per share. The ex-dividend date was Friday, August 8th. This represents a $3.83 annualized dividend and a yield of 7.5%. Mplx's dividend payout ratio (DPR) is 90.74%.

Analyst Upgrades and Downgrades

A number of research firms have commented on MPLX. Stifel Nicolaus lifted their target price on shares of Mplx from $57.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. Barclays lifted 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. Finally, Wall Street Zen lowered shares of Mplx from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Mplx presently has an average rating of "Moderate Buy" and a consensus target price of $56.11.

Mplx 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.