Princeton Global Asset Management LLC Raises Holdings in Mplx Lp (NYSE:MPLX)

Princeton Global Asset Management LLC increased its position in Mplx Lp (NYSE:MPLX) by 19.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,735 shares of the pipeline company’s stock after buying an additional 1,745 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Mplx were worth $477,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in MPLX. Quent Capital LLC purchased a new position in shares of Mplx in the 1st quarter worth $35,000. Crewe Advisors LLC purchased a new position in Mplx in the first quarter valued at about $41,000. CWM LLC raised its position in Mplx by 73.3% in 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 during the period. Summit Securities Group LLC raised its position in Mplx by 450.0% in the second quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company’s stock valued at $47,000 after purchasing an additional 900 shares during the period. Finally, Redwood Wealth Management Group LLC purchased a new position in Mplx in the second quarter valued at about $67,000. 24.25% of the stock is owned by hedge funds and other institutional investors.

Mplx Stock Down 0.5 %

NYSE:MPLX opened at $44.21 on Monday. The company has a market capitalization of $45.12 billion, a price-to-earnings ratio of 10.73, a price-to-earnings-growth ratio of 1.21 and a beta of 1.37. Mplx Lp has a one year low of $35.06 and a one year high of $45.24. The stock has a 50-day simple moving average of $43.83 and a 200 day simple moving average of $42.40. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.95 and a current ratio of 0.99.

Mplx (NYSE:MPLX) last posted its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.17. The business had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $2.96 billion. Mplx had a return on equity of 32.68% and a net margin of 35.95%. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period last year, the firm earned $0.91 earnings per share. Sell-side analysts predict that Mplx Lp will post 4.3 EPS for the current fiscal year.

Mplx Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be issued a $0.9565 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.83 dividend on an annualized basis and a yield of 8.65%. This is a boost from Mplx’s previous quarterly dividend of $0.85. Mplx’s dividend payout ratio (DPR) is currently 82.52%.

Analyst Ratings Changes

Several research firms have commented on MPLX. Bank of America began coverage on Mplx in a research report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price objective on the stock. StockNews.com raised Mplx from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 10th. UBS Group raised their target price on Mplx from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Wells Fargo & Company raised their target price on Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada raised their target price on Mplx from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Mplx has an average rating of “Moderate Buy” and an average price target of $47.67.

About Mplx

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.