Diversify Wealth Management LLC Buys Shares of 10,345 Mplx Lp $MPLX

Diversify Wealth Management LLC acquired a new position in shares of Mplx Lp (NYSE:MPLX) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 10,345 shares of the pipeline company’s stock, valued at approximately $574,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Sequoia Financial Advisors LLC increased its holdings in shares of Mplx by 2.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 200,244 shares of the pipeline company’s stock valued at $11,428,000 after purchasing an additional 5,209 shares during the period. Walled Lake Planning & Wealth Management LLC raised its stake in shares of Mplx by 5.3% in the first quarter. Walled Lake Planning & Wealth Management LLC now owns 9,915 shares of the pipeline company’s stock worth $566,000 after acquiring an additional 496 shares during the last quarter. Cherry Creek Investment Advisors Inc. raised its holdings in Mplx by 4.9% during the 1st quarter. Cherry Creek Investment Advisors Inc. now owns 16,372 shares of the pipeline company’s stock worth $934,000 after purchasing an additional 768 shares during the last quarter. Kestra Advisory Services LLC boosted its stake in Mplx by 6.0% during the 1st quarter. Kestra Advisory Services LLC now owns 138,561 shares of the pipeline company’s stock worth $7,908,000 after acquiring an additional 7,866 shares during the last quarter. Finally, Cvfg LLC bought a new position in Mplx during the 1st quarter worth about $1,181,000. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Mplx Trading Down 0.1%

NYSE:MPLX opened at $57.10 on Friday. Mplx Lp has a 52 week low of $47.80 and a 52 week high of $59.98. The company has a quick ratio of 1.05, a current ratio of 1.10 and a debt-to-equity ratio of 1.71. The stock has a market capitalization of $57.95 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 5.50 and a beta of 0.47. The firm has a 50 day moving average of $56.21 and a 200 day moving average of $56.24.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.15). Mplx had a net margin of 36.38% and a return on equity of 32.74%. The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same period last year, the company earned $1.10 earnings per share. The firm’s revenue was down 2.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Mplx Lp will post 4.21 earnings per share for the current fiscal year.

Mplx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were issued a $1.0765 dividend. This represents a $4.31 annualized dividend and a yield of 7.5%. The ex-dividend date was Friday, May 8th. Mplx’s payout ratio is presently 93.29%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MPLX. Morgan Stanley cut their price objective on Mplx from $62.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 20th. Zacks Research upgraded shares of Mplx from a “strong sell” rating to a “hold” rating in a research note on Friday, June 5th. Royal Bank Of Canada reiterated an “outperform” rating and set a $60.00 price target on shares of Mplx in a research report on Thursday, July 2nd. Barclays increased their target price on shares of Mplx from $58.00 to $59.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Finally, Wells Fargo & Company decreased their target price on Mplx from $63.00 to $61.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $61.60.

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.