4,543 Shares in Mplx Lp (NYSE:MPLX) Bought by Zhang Financial LLC

Zhang Financial LLC bought a new stake in shares of Mplx Lp (NYSE:MPLX) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,543 shares of the pipeline company’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quent Capital LLC purchased a new position in Mplx during the first quarter valued at $35,000. Pacifica Partners Inc. purchased a new position in Mplx during the first quarter valued at $41,000. Crewe Advisors LLC purchased a new position in Mplx during the first quarter valued at $41,000. Register Financial Advisors LLC purchased a new position in Mplx during the first quarter valued at $42,000. Finally, CWM LLC lifted its position in Mplx by 73.3% during the second quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock valued at $45,000 after purchasing an additional 451 shares in the last quarter. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Mplx Price Performance

Shares of Mplx stock opened at $44.13 on Wednesday. The stock has a 50 day moving average of $43.20 and a 200 day moving average of $42.13. Mplx Lp has a 12 month low of $35.06 and a 12 month high of $45.24. The firm has a market cap of $44.84 billion, a PE ratio of 11.37, a PEG ratio of 1.22 and a beta of 1.37. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.41.

Mplx (NYSE:MPLX) last issued its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.17. Mplx had a return on equity of 32.68% and a net margin of 35.95%. The business had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same period in the prior year, the business posted $0.91 earnings per share. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. On average, research analysts expect that Mplx Lp will post 4.24 EPS for the current fiscal year.

Mplx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 9th were given a dividend of $0.85 per share. The ex-dividend date was Friday, August 9th. This represents a $3.40 dividend on an annualized basis and a yield of 7.70%. Mplx’s dividend payout ratio (DPR) is presently 87.63%.

Wall Street Analyst Weigh In

MPLX has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. StockNews.com upgraded Mplx from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 10th. Barclays boosted their price objective on Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. UBS Group boosted their price objective on Mplx from $49.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $47.00 price objective on shares of Mplx in a research report on Wednesday, August 28th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Mplx currently has an average rating of “Buy” and a consensus price target of $47.88.

Mplx Company Profile

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.