Mplx Lp (NYSE:MPLX) Position Lifted by Northeast Financial Consultants Inc

Northeast Financial Consultants Inc boosted its holdings in Mplx Lp (NYSE:MPLX) by 55.0% during the first quarter, Holdings Channel reports. The fund owned 405,648 shares of the pipeline company’s stock after buying an additional 144,000 shares during the period. Mplx comprises 1.5% of Northeast Financial Consultants Inc’s holdings, making the stock its 13th biggest position. Northeast Financial Consultants Inc’s holdings in Mplx were worth $13,342,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in shares of Mplx by 7.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 62,537 shares of the pipeline company’s stock valued at $2,169,000 after acquiring an additional 4,401 shares during the period. IFP Advisors Inc increased its holdings in shares of Mplx by 65.0% in the 4th quarter. IFP Advisors Inc now owns 2,543 shares of the pipeline company’s stock valued at $77,000 after acquiring an additional 1,002 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Mplx by 4.0% in the 4th quarter. Advisors Asset Management Inc. now owns 79,201 shares of the pipeline company’s stock valued at $2,400,000 after acquiring an additional 3,076 shares during the period. BB&T Securities LLC increased its holdings in shares of Mplx by 21.1% in the 4th quarter. BB&T Securities LLC now owns 55,614 shares of the pipeline company’s stock valued at $1,685,000 after acquiring an additional 9,694 shares during the period. Finally, Comerica Securities Inc. increased its holdings in shares of Mplx by 125.7% in the 4th quarter. Comerica Securities Inc. now owns 13,788 shares of the pipeline company’s stock valued at $418,000 after acquiring an additional 7,678 shares during the period. Hedge funds and other institutional investors own 30.83% of the company’s stock.

MPLX traded up $0.16 on Wednesday, reaching $31.51. 25,690 shares of the stock were exchanged, compared to its average volume of 1,758,431. Mplx Lp has a fifty-two week low of $28.32 and a fifty-two week high of $39.01. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.85 and a current ratio of 0.93. The stock has a market cap of $24.89 billion, a P/E ratio of 13.76 and a beta of 1.19.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.02. Mplx had a return on equity of 27.44% and a net margin of 28.57%. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the previous year, the firm posted $0.61 EPS. The firm’s revenue was up 15.9% compared to the same quarter last year. Analysts predict that Mplx Lp will post 2.47 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Thursday, May 9th were given a dividend of $0.6575 per share. The ex-dividend date was Wednesday, May 8th. This represents a $2.63 dividend on an annualized basis and a yield of 8.35%. This is a boost from Mplx’s previous quarterly dividend of $0.65. Mplx’s payout ratio is currently 114.85%.

Several research analysts recently weighed in on the company. Bank of America upgraded Mplx from a “neutral” rating to a “buy” rating and set a $39.00 target price on the stock in a research note on Tuesday. Barclays restated a “buy” rating and set a $38.00 target price on shares of Mplx in a research note on Wednesday, March 13th. Zacks Investment Research upgraded Mplx from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. ValuEngine upgraded Mplx from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th. Finally, BMO Capital Markets assumed coverage on Mplx in a research note on Monday. They set a “market perform” rating and a $35.00 target price on the stock. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. Mplx presently has a consensus rating of “Buy” and an average target price of $38.80.

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About Mplx

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. The company also provides fuels distribution services. 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; and transportation, storage, and distribution of crude oil and refined petroleum products.

See Also: Net Margin

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Institutional Ownership by Quarter for Mplx (NYSE:MPLX)

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