Mplx Lp (NYSE:MPLX) Shares Acquired by Wedmont Private Capital

Wedmont Private Capital lifted its stake in shares of Mplx Lp (NYSE:MPLX) by 24.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,122 shares of the pipeline company’s stock after buying an additional 1,959 shares during the period. Wedmont Private Capital’s holdings in Mplx were worth $424,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. International Assets Investment Management LLC raised its holdings in shares of Mplx by 179.1% during the fourth quarter. International Assets Investment Management LLC now owns 212,021 shares of the pipeline company’s stock worth $7,785,000 after purchasing an additional 136,047 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Mplx by 30.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,158 shares of the pipeline company’s stock valued at $116,000 after buying an additional 738 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in Mplx by 32.5% in the fourth quarter. Mutual of America Capital Management LLC now owns 39,761 shares of the pipeline company’s stock valued at $1,460,000 after buying an additional 9,756 shares in the last quarter. Cerity Partners LLC purchased a new position in Mplx in the fourth quarter valued at $321,000. Finally, VELA Investment Management LLC purchased a new position in Mplx in the fourth quarter valued at $295,000. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Mplx Stock Up 0.4 %

Shares of NYSE:MPLX traded up $0.18 during trading hours on Tuesday, reaching $40.62. The stock had a trading volume of 3,764,428 shares, compared to its average volume of 1,995,443. Mplx Lp has a 1 year low of $34.47 and a 1 year high of $43.42. The firm’s 50 day moving average is $41.98 and its 200-day moving average is $40.86. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.67 and a current ratio of 0.72. The stock has a market capitalization of $41.28 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 2.13 and a beta of 1.37.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.17. Mplx had a net margin of 34.96% and a return on equity of 31.70%. The firm had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the prior year, the business earned $0.91 EPS. Mplx’s quarterly revenue was up 13.5% compared to the same quarter last year. Research analysts predict that Mplx Lp will post 4.02 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Friday, August 9th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 8.37%. The ex-dividend date is Friday, August 9th. Mplx’s dividend payout ratio (DPR) is 87.63%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MPLX. Truist Financial boosted their price target on shares of Mplx from $43.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Barclays boosted their target price on shares of Mplx from $43.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, July 12th. JPMorgan Chase & Co. boosted their target price on shares of Mplx from $45.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Stifel Nicolaus boosted their price target on shares of Mplx from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company boosted their price target on shares of Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $46.22.

About Mplx

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.