Mplx Lp (NYSE:MPLX) Shares Purchased by Objectivity Squared LLC

Objectivity Squared LLC grew its stake in Mplx Lp (NYSE:MPLX) by 2.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,879 shares of the pipeline company’s stock after buying an additional 1,737 shares during the period. Mplx accounts for 2.7% of Objectivity Squared LLC’s holdings, making the stock its 12th biggest position. Objectivity Squared LLC’s holdings in Mplx were worth $3,836,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Howard Financial Services LTD. increased its stake in shares of Mplx by 2.0% in the third quarter. Howard Financial Services LTD. now owns 21,278 shares of the pipeline company’s stock worth $946,000 after acquiring an additional 421 shares during the period. True North Advisors LLC acquired a new stake in shares of Mplx during the 3rd quarter worth approximately $398,000. SL Advisors LLC boosted its stake in shares of Mplx by 4.6% during the 3rd quarter. SL Advisors LLC now owns 17,375 shares of the pipeline company’s stock worth $772,000 after acquiring an additional 765 shares in the last quarter. Alpha Cubed Investments LLC acquired a new position in shares of Mplx during the 3rd quarter worth approximately $204,000. Finally, Mather Group LLC. raised its position in Mplx by 39.6% during the third quarter. Mather Group LLC. now owns 6,110 shares of the pipeline company’s stock worth $272,000 after acquiring an additional 1,732 shares during the period. 24.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MPLX has been the topic of several research analyst reports. StockNews.com cut Mplx from a “strong-buy” rating to a “buy” rating in a report on Monday, September 23rd. Wells Fargo & Company raised their target price on shares of Mplx from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $47.00 price target on shares of Mplx in a report on Wednesday, August 28th. Barclays cut their price objective on shares of Mplx from $46.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Finally, UBS Group increased their price objective on Mplx from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $47.38.

Mplx Stock Down 0.1 %

Shares of Mplx stock traded down $0.06 on Wednesday, reaching $43.72. 170,943 shares of the company were exchanged, compared to its average volume of 1,852,811. The stock’s 50 day moving average price is $43.00 and its 200-day moving average price is $42.03. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.99 and a quick ratio of 0.95. Mplx Lp has a 1-year low of $35.06 and a 1-year high of $45.24. The company has a market cap of $44.43 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 1.24 and a beta of 1.37.

Mplx (NYSE:MPLX) last posted its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.98 by $0.17. Mplx had a net margin of 35.95% and a return on equity of 32.68%. The company had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the previous year, the business posted $0.91 EPS. The firm’s revenue was up 13.5% on a year-over-year basis. As a group, equities analysts forecast that Mplx Lp will post 4.24 EPS for the current year.

Mplx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 9th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 7.78%. The ex-dividend date of this dividend was Friday, August 9th. Mplx’s dividend payout ratio (DPR) is presently 87.63%.

Mplx 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.