Mission Wealth Management LP Invests $214,000 in Mplx Lp (NYSE:MPLX)

Mission Wealth Management LP bought a new position in Mplx Lp (NYSE:MPLX) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,000 shares of the pipeline company’s stock, valued at approximately $214,000.

A number of other hedge funds have also recently modified their holdings of MPLX. VSM Wealth Advisory LLC purchased a new stake in shares of Mplx in the fourth quarter worth about $31,000. Generali Asset Management SPA SGR purchased a new position in Mplx during the fourth quarter worth approximately $56,000. Russell Investments Group Ltd. boosted its position in Mplx by 139.6% during the fourth quarter. Russell Investments Group Ltd. now owns 1,785 shares of the pipeline company’s stock worth $85,000 after purchasing an additional 1,040 shares in the last quarter. RE Dickinson Investment Advisors LLC boosted its position in Mplx by 11.5% during the fourth quarter. RE Dickinson Investment Advisors LLC now owns 2,017 shares of the pipeline company’s stock worth $96,000 after purchasing an additional 208 shares in the last quarter. Finally, Rowlandmiller & PARTNERS.ADV purchased a new position in Mplx during the first quarter worth approximately $117,000. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Mplx Price Performance

NYSE:MPLX opened at $51.34 on Friday. Mplx Lp has a one year low of $39.95 and a one year high of $54.87. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.04 and a current ratio of 1.08. The stock has a market cap of $52.40 billion, a PE ratio of 11.86, a P/E/G ratio of 1.61 and a beta of 0.74. The stock has a 50 day moving average price of $50.89 and a 200 day moving average price of $50.99.

Mplx (NYSE:MPLX) last posted its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.07 by $0.03. Mplx had a return on equity of 32.08% and a net margin of 36.34%. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter last year, the firm earned $0.98 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities research analysts expect that Mplx Lp will post 4.41 EPS for the current fiscal 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 issued a $0.9565 dividend. The ex-dividend date was Friday, May 9th. This represents a $3.83 annualized dividend and a dividend yield of 7.45%. Mplx’s dividend payout ratio is presently 88.45%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MPLX shares. Morgan Stanley raised their target price on Mplx from $56.00 to $62.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 11th. Wall Street Zen downgraded Mplx from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 2nd. Barclays decreased their target price on Mplx from $55.00 to $52.00 and set an “overweight” rating on the stock in a research report on Monday, May 12th. Finally, Royal Bank Of Canada raised their target price on Mplx from $55.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, March 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Mplx presently has an average rating of “Moderate Buy” and an average price target of $55.50.

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.