Acorn Advisory Capital L.P. grew its stake in shares of Mplx Lp (NYSE:MPLX) by 31.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 285,500 shares of the pipeline company’s stock after purchasing an additional 67,700 shares during the period. Mplx makes up about 9.9% of Acorn Advisory Capital L.P.’s holdings, making the stock its 4th largest position. Acorn Advisory Capital L.P.’s holdings in Mplx were worth $7,997,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of MPLX. CWM LLC raised its stake in Mplx by 73.9% in the 3rd quarter. CWM LLC now owns 948 shares of the pipeline company’s stock valued at $27,000 after purchasing an additional 403 shares during the last quarter. Advantage Investment Management LLC acquired a new position in Mplx in the 3rd quarter valued at about $28,000. Prime Capital Investment Advisors LLC acquired a new position in Mplx in the 3rd quarter valued at about $28,000. Berman Capital Advisors LLC raised its stake in Mplx by 146.2% in the 2nd quarter. Berman Capital Advisors LLC now owns 975 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 579 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. acquired a new position in Mplx in the 2nd quarter valued at about $31,000. Institutional investors own 31.70% of the company’s stock.
Shares of MPLX traded up $0.32 during trading hours on Wednesday, reaching $23.66. 6,251,495 shares of the company’s stock traded hands, compared to its average volume of 2,246,999. The business’s fifty day simple moving average is $25.05 and its two-hundred day simple moving average is $28.60. Mplx Lp has a twelve month low of $22.60 and a twelve month high of $35.85. The firm has a market capitalization of $25.03 billion, a price-to-earnings ratio of 10.33 and a beta of 1.03. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.65 and a quick ratio of 0.60.
Mplx (NYSE:MPLX) last announced its earnings results on Thursday, October 31st. The pipeline company reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.02. Mplx had a return on equity of 21.25% and a net margin of 28.17%. The business had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter last year, the business posted $0.62 earnings per share. The company’s quarterly revenue was up 33.2% on a year-over-year basis. On average, equities research analysts expect that Mplx Lp will post 2.41 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a $0.6775 dividend. This is a positive change from Mplx’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Friday, November 1st. This represents a $2.71 dividend on an annualized basis and a dividend yield of 11.45%. Mplx’s dividend payout ratio (DPR) is 118.34%.
A number of research analysts have recently commented on MPLX shares. Credit Suisse Group dropped their target price on shares of Mplx from $33.00 to $29.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. Jefferies Financial Group restated a “buy” rating and issued a $35.00 price target on shares of Mplx in a report on Tuesday, September 3rd. Scotiabank began coverage on Mplx in a report on Tuesday, September 3rd. They issued an “outperform” rating and a $36.00 price target for the company. Royal Bank of Canada set a $33.00 target price on Mplx and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Citigroup dropped their price target on Mplx from $40.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. Mplx has an average rating of “Buy” and a consensus target price of $34.67.
Mplx Company Profile
MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. The company also provides fuels distribution services. 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; and transportation, storage, and distribution of crude oil and refined petroleum products.
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