Mosaic Family Wealth LLC lessened its stake in shares of Mplx Lp (NYSE:MPLX) by 21.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,229 shares of the pipeline company’s stock after selling 3,260 shares during the quarter. Mosaic Family Wealth LLC’s holdings in Mplx were worth $434,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ameritas Investment Partners Inc. acquired a new position in shares of Mplx during the third quarter valued at about $193,000. Stuart Chaussee & Associates Inc. bought a new stake in shares of Mplx during the fourth quarter worth about $195,000. American Century Companies Inc. bought a new stake in shares of Mplx during the fourth quarter worth about $204,000. Quadrant Private Wealth Management LLC bought a new stake in shares of Mplx during the fourth quarter worth about $227,000. Finally, Pitcairn Co. bought a new stake in shares of Mplx during the fourth quarter worth about $229,000. 32.23% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Mplx Lp (NYSE MPLX) traded down $0.65 during trading on Wednesday, reaching $34.71. 5,964,745 shares of the company’s stock were exchanged, compared to its average volume of 1,800,000. The company has a market cap of $27,550.00, a price-to-earnings ratio of 33.06, a PEG ratio of 3.28 and a beta of 1.32. Mplx Lp has a 1-year low of $30.88 and a 1-year high of $39.38. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.38 and a current ratio of 0.43.
Mplx (NYSE:MPLX) last announced its quarterly earnings results on Thursday, February 1st. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.03). Mplx had a return on equity of 6.98% and a net margin of 17.90%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $937.04 million. During the same period last year, the business earned $0.17 EPS. Mplx’s revenue was up 27.9% on a year-over-year basis. sell-side analysts expect that Mplx Lp will post 1.93 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Monday, February 5th were given a $0.6075 dividend. This represents a $2.43 annualized dividend and a dividend yield of 7.00%. This is a boost from Mplx’s previous quarterly dividend of $0.44. The ex-dividend date was Friday, February 2nd. Mplx’s dividend payout ratio (DPR) is currently 231.43%.
A number of equities research analysts have issued reports on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Mplx in a research report on Thursday, February 1st. Credit Suisse Group began coverage on shares of Mplx in a research note on Thursday, January 4th. They set an “outperform” rating and a $43.00 price target on the stock. ValuEngine cut shares of Mplx from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Jefferies Group cut shares of Mplx from a “buy” rating to a “hold” rating and set a $38.00 target price on the stock. in a research note on Monday, February 5th. Finally, Citigroup reissued a “buy” rating and issued a $46.00 price target on shares of Mplx in a report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $41.55.
MPLX LP is a master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets. The Company is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids (NGLs), and the gathering, transportation and storage of crude oil and refined petroleum products.
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