Tectonic Advisors LLC Acquires 6,157 Shares of Mplx Lp (NYSE:MPLX)

Tectonic Advisors LLC increased its stake in Mplx Lp (NYSE:MPLX - Free Report) by 3.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 211,595 shares of the pipeline company's stock after buying an additional 6,157 shares during the quarter. Mplx comprises 0.7% of Tectonic Advisors LLC's portfolio, making the stock its 23rd largest position. Tectonic Advisors LLC's holdings in Mplx were worth $11,325,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. VSM Wealth Advisory LLC bought a new stake in Mplx during the 4th quarter valued at $31,000. Rossby Financial LCC bought a new stake in shares of Mplx during the 1st quarter worth about $33,000. JFS Wealth Advisors LLC bought a new stake in shares of Mplx during the 1st quarter worth about $37,000. MorganRosel Wealth Management LLC bought a new stake in Mplx during the 1st quarter valued at approximately $48,000. Finally, Generali Asset Management SPA SGR bought a new stake in Mplx during the 4th quarter valued at approximately $56,000. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Barclays restated an "overweight" rating and set a $53.00 price target (up from $52.00) on shares of Mplx in a research report on Friday, July 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, Mplx has an average rating of "Moderate Buy" and an average target price of $55.63.

Mplx Trading Down 0.6%

NYSE MPLX traded down $0.33 on Wednesday, reaching $50.38. The company had a trading volume of 525,642 shares, compared to its average volume of 1,648,743. The firm has a market cap of $51.43 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 1.59 and a beta of 0.73. The business has a 50 day moving average of $51.01 and a two-hundred day moving average of $51.37. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 1.04. Mplx Lp has a fifty-two week low of $39.95 and a fifty-two week high of $54.87.

Mplx (NYSE:MPLX - Get Free Report) last posted its 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. Mplx had a net margin of 36.34% and a return on equity of 32.08%. The firm had revenue of $2.89 billion for the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter last year, the firm earned $0.98 EPS. The company's quarterly revenue was up 9.8% compared to the same quarter last year. Analysts forecast that Mplx Lp will post 4.41 EPS for the current year.

Mplx Dividend Announcement

The business also recently declared 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 7.59%. The ex-dividend date was Friday, May 9th. Mplx's payout ratio is currently 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.