SteelPeak Wealth LLC Invests $664,000 in Mplx Lp $MPLX

SteelPeak Wealth LLC purchased a new stake in Mplx Lp (NYSE:MPLX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,295 shares of the pipeline company’s stock, valued at approximately $664,000.

Other hedge funds have also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC acquired a new position in shares of Mplx in the 2nd quarter valued at approximately $776,894,000. Goldman Sachs Group Inc. increased its stake in shares of Mplx by 0.6% in the first quarter. Goldman Sachs Group Inc. now owns 13,649,224 shares of the pipeline company’s stock worth $730,506,000 after buying an additional 83,392 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Mplx by 8.3% in the second quarter. Bank of America Corp DE now owns 9,873,619 shares of the pipeline company’s stock worth $508,590,000 after buying an additional 757,569 shares during the last quarter. Chickasaw Capital Management LLC raised its holdings in Mplx by 2.2% in the third quarter. Chickasaw Capital Management LLC now owns 5,611,824 shares of the pipeline company’s stock valued at $280,311,000 after acquiring an additional 120,216 shares in the last quarter. Finally, Energy Income Partners LLC raised its holdings in Mplx by 4.5% in the second quarter. Energy Income Partners LLC now owns 5,541,795 shares of the pipeline company’s stock valued at $285,458,000 after acquiring an additional 236,932 shares in the last quarter. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Trading Up 0.9%

NYSE MPLX opened at $53.83 on Friday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.26 and a current ratio of 1.31. Mplx Lp has a one year low of $44.60 and a one year high of $56.26. The company has a 50-day simple moving average of $53.27 and a 200-day simple moving average of $51.49. The firm has a market capitalization of $54.75 billion, a PE ratio of 11.40 and a beta of 0.56.

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

Mplx Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, November 7th were issued 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 annualized dividend and a dividend yield of 8.0%. Mplx’s dividend payout ratio (DPR) is 91.31%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MPLX shares. Zacks Research raised shares of Mplx from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Barclays increased their price target 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. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $57.00 price objective on shares of Mplx in a report on Monday, December 1st. Royal Bank Of Canada upped their price objective on Mplx from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, November 21st. Finally, Morgan Stanley increased their target price on Mplx from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Mplx presently 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.