Turtle Creek Wealth Advisors LLC Takes $634,000 Position in Mplx Lp (NYSE:MPLX)

Turtle Creek Wealth Advisors LLC purchased a new position in shares of Mplx Lp (NYSE:MPLX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 11,849 shares of the pipeline company's stock, valued at approximately $634,000.

Several other hedge funds have also recently modified their holdings of MPLX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Mplx by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,904,477 shares of the pipeline company's stock worth $330,448,000 after acquiring an additional 266,998 shares in the last quarter. Bramshill Investments LLC increased its holdings in shares of Mplx by 71.4% in the 4th quarter. Bramshill Investments LLC now owns 30,130 shares of the pipeline company's stock valued at $1,442,000 after purchasing an additional 12,556 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in shares of Mplx by 221.9% in the fourth quarter. Neuberger Berman Group LLC now owns 643,995 shares of the pipeline company's stock valued at $30,822,000 after purchasing an additional 443,910 shares during the period. Blair William & Co. IL boosted its holdings in Mplx by 47.5% during the fourth quarter. Blair William & Co. IL now owns 18,520 shares of the pipeline company's stock worth $886,000 after buying an additional 5,965 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Mplx by 17.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 108,988 shares of the pipeline company's stock worth $5,833,000 after buying an additional 15,807 shares during the period. 24.25% of the stock is owned by institutional investors and hedge funds.

Mplx Price Performance

Shares of NYSE:MPLX traded up $0.29 on Monday, hitting $50.95. The company had a trading volume of 894,024 shares, compared to its average volume of 1,661,619. 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 company has a market cap of $52.00 billion, a PE ratio of 11.77, a PEG ratio of 1.58 and a beta of 0.73. Mplx Lp has a 52-week low of $39.95 and a 52-week high of $54.87. The business has a 50 day moving average of $50.98 and a 200 day moving average of $51.35.

Mplx (NYSE:MPLX - Get Free Report) last announced its earnings results on Tuesday, May 6th. The pipeline company reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 36.34% and a return on equity of 32.08%. Mplx's revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 earnings per share. As a group, equities analysts anticipate that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were paid a $0.9565 dividend. This represents a $3.83 annualized dividend and a dividend yield of 7.51%. The ex-dividend date was Friday, May 9th. Mplx's dividend payout ratio is currently 88.22%.

Wall Street Analyst Weigh In

MPLX has been the topic of several research analyst reports. Barclays reissued an "overweight" rating and set a $53.00 price target (up previously from $52.00) on shares of Mplx in a research note on Friday. Royal Bank Of Canada upped their target price on Mplx from $55.00 to $58.00 and gave the company an "outperform" rating in a report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Mplx has an average rating of "Moderate Buy" and an average 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.