Mplx Lp (NYSE:MPLX) Shares Sold by Merrion Investment Management Co LLC

Merrion Investment Management Co LLC lowered its position in shares of Mplx Lp (NYSE:MPLX) by 3.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,300 shares of the pipeline company’s stock after selling 475 shares during the period. Merrion Investment Management Co LLC’s holdings in Mplx were worth $511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Register Financial Advisors LLC acquired a new stake in shares of Mplx during the 1st quarter worth approximately $42,000. Howard Financial Services LTD. acquired a new stake in shares of Mplx during the 1st quarter worth approximately $849,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Mplx by 296.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 67,102 shares of the pipeline company’s stock worth $2,789,000 after buying an additional 50,166 shares during the last quarter. Brookstone Capital Management boosted its position in shares of Mplx by 16.9% during the 1st quarter. Brookstone Capital Management now owns 16,069 shares of the pipeline company’s stock worth $668,000 after purchasing an additional 2,325 shares during the period. Finally, CFM Wealth Partners LLC boosted its position in shares of Mplx by 38.2% during the 1st quarter. CFM Wealth Partners LLC now owns 30,552 shares of the pipeline company’s stock worth $1,270,000 after purchasing an additional 8,443 shares during the period. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Stock Up 0.6 %

Shares of Mplx stock traded up $0.24 during trading on Friday, hitting $42.59. 796,289 shares of the stock were exchanged, compared to its average volume of 1,636,193. The stock has a market cap of $43.28 billion, a price-to-earnings ratio of 10.98, a price-to-earnings-growth ratio of 2.13 and a beta of 1.35. The firm’s 50-day moving average price is $41.16 and its 200 day moving average price is $39.63. Mplx Lp has a 12-month low of $33.78 and a 12-month high of $42.90. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.72 and a quick ratio of 0.67.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.01). The firm had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Mplx had a return on equity of 31.70% and a net margin of 34.96%. Mplx’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the firm posted $0.91 earnings per share. As a group, analysts forecast that Mplx Lp will post 4.01 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Friday, May 3rd were paid a dividend of $0.85 per share. The ex-dividend date was Thursday, May 2nd. This represents a $3.40 annualized dividend and a yield of 7.98%. Mplx’s dividend payout ratio is currently 87.63%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MPLX shares. Barclays increased their price objective on shares of Mplx from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Truist Financial increased their price objective on shares of Mplx from $43.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Stifel Nicolaus increased their price objective on shares of Mplx from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. StockNews.com cut shares of Mplx from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 24th. Finally, JPMorgan Chase & Co. raised their price target on shares of Mplx from $45.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.11.

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.