Mplx Lp $MPLX Shares Acquired by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC grew its position in shares of Mplx Lp (NYSE:MPLX) by 11.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,321 shares of the pipeline company’s stock after purchasing an additional 14,721 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Mplx were worth $7,009,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its position in Mplx by 0.8% during the second quarter. Bessemer Group Inc. now owns 25,081 shares of the pipeline company’s stock valued at $1,291,000 after buying an additional 200 shares during the period. Magnus Financial Group LLC increased its stake in shares of Mplx by 4.9% in the 2nd quarter. Magnus Financial Group LLC now owns 4,602 shares of the pipeline company’s stock valued at $237,000 after purchasing an additional 215 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Mplx by 7.7% in the 2nd quarter. Fifth Third Bancorp now owns 3,165 shares of the pipeline company’s stock valued at $163,000 after purchasing an additional 227 shares in the last quarter. Visionary Wealth Advisors raised its holdings in Mplx by 4.1% in the 2nd quarter. Visionary Wealth Advisors now owns 5,866 shares of the pipeline company’s stock worth $302,000 after purchasing an additional 232 shares during the period. Finally, Argyle Capital Partners LLC boosted its position in Mplx by 0.9% during the second quarter. Argyle Capital Partners LLC now owns 26,712 shares of the pipeline company’s stock worth $1,376,000 after purchasing an additional 250 shares in the last quarter. 24.25% of the stock is owned by hedge funds and other institutional investors.

Mplx Trading Up 0.4%

Shares of MPLX opened at $53.97 on Wednesday. Mplx Lp has a 52-week low of $44.60 and a 52-week high of $56.26. The stock has a market cap of $54.89 billion, a PE ratio of 11.43 and a beta of 0.56. The firm’s fifty day moving average is $52.63 and its two-hundred day moving average is $51.36. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 1.66.

Mplx (NYSE:MPLX) last posted its quarterly earnings results on Tuesday, November 4th. The pipeline company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.45. The firm had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $3.16 billion. Mplx had a net margin of 37.61% and a return on equity of 34.14%. Research analysts forecast that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 7th were paid a $1.0765 dividend. This is a positive change from Mplx’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Friday, November 7th. This represents a $4.31 dividend on an annualized basis and a yield of 8.0%. Mplx’s dividend payout ratio is 91.31%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MPLX shares. Morgan Stanley boosted their price objective on Mplx from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 25th. Barclays upped their price objective on shares of Mplx from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Wells Fargo & Company decreased their price objective on shares of Mplx from $60.00 to $59.00 and set an “overweight” rating on the stock in a report on Tuesday, September 23rd. Royal Bank Of Canada boosted their target price on shares of Mplx from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, November 21st. Finally, Zacks Research upgraded shares of Mplx from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Mplx currently has an average rating of “Moderate Buy” and an average target price of $59.00.

Mplx Company Profile

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.