Cherry Creek Investment Advisors Inc. Buys New Holdings in Mplx Lp (NYSE:MPLX)

Cherry Creek Investment Advisors Inc. bought a new stake in Mplx Lp (NYSE:MPLX) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,670 shares of the pipeline company’s stock, valued at approximately $227,000.

Other institutional investors have also recently modified their holdings of the company. Advisors Asset Management Inc. raised its position in Mplx by 0.4% in the second quarter. Advisors Asset Management Inc. now owns 107,151 shares of the pipeline company’s stock valued at $3,173,000 after purchasing an additional 400 shares during the period. Oppenheimer Asset Management Inc. raised its position in Mplx by 1.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 36,879 shares of the pipeline company’s stock valued at $1,092,000 after purchasing an additional 402 shares during the period. Ahrens Investment Partners LLC raised its position in Mplx by 5.0% in the second quarter. Ahrens Investment Partners LLC now owns 9,519 shares of the pipeline company’s stock valued at $282,000 after purchasing an additional 450 shares during the period. Mutual of America Capital Management LLC raised its position in Mplx by 1.8% in the second quarter. Mutual of America Capital Management LLC now owns 26,793 shares of the pipeline company’s stock valued at $793,000 after purchasing an additional 484 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its position in Mplx by 3.8% in the first quarter. Mercer Global Advisors Inc. ADV now owns 15,929 shares of the pipeline company’s stock valued at $408,000 after purchasing an additional 587 shares during the period. Hedge funds and other institutional investors own 26.97% of the company’s stock.

NYSE:MPLX traded up $0.19 during mid-day trading on Thursday, reaching $30.43. The stock had a trading volume of 8,419 shares, compared to its average volume of 2,058,105. The company has a market capitalization of $31.21 billion, a price-to-earnings ratio of 11.68 and a beta of 1.85. Mplx Lp has a 1-year low of $16.47 and a 1-year high of $31.40. The stock’s 50 day simple moving average is $28.53 and its two-hundred day simple moving average is $28.35. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.77 and a quick ratio of 0.70.

Mplx (NYSE:MPLX) last posted its quarterly earnings results on Wednesday, August 4th. The pipeline company reported $0.66 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.66. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.26 billion. Mplx had a return on equity of 22.71% and a net margin of 30.35%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period last year, the firm earned $0.58 earnings per share. Sell-side analysts anticipate that Mplx Lp will post 2.74 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 13th. Shareholders of record on Friday, August 6th were paid a $0.6875 dividend. The ex-dividend date of this dividend was Thursday, August 5th. This represents a $2.75 dividend on an annualized basis and a yield of 9.04%. Mplx’s payout ratio is currently 112.70%.

Several research analysts have commented on the company. Zacks Investment Research raised Mplx from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Monday, September 20th. Wolfe Research lowered Mplx from an “outperform” rating to a “peer perform” rating and set a $30.00 target price on the stock. in a research report on Friday, July 16th. They noted that the move was a valuation call. Barclays lifted their target price on Mplx from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, October 7th. Morgan Stanley lifted their target price on Mplx from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Friday, June 18th. Finally, Wells Fargo & Company lifted their target price on Mplx from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, June 24th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Mplx has an average rating of “Buy” and a consensus target price of $31.00.

Mplx Company Profile

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets; and distribution fuels services. It operates through the Logistics and Storage (L&S), and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products and water.

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Institutional Ownership by Quarter for Mplx (NYSE:MPLX)

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