Inspire Investing LLC Acquires Shares of 20,715 Mplx Lp (NYSE:MPLX)

Inspire Investing LLC bought a new position in shares of Mplx Lp (NYSE:MPLX) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 20,715 shares of the pipeline company’s stock, valued at approximately $921,000.

A number of other hedge funds have also modified their holdings of MPLX. Chickasaw Capital Management LLC grew its stake in Mplx by 0.6% during the 3rd quarter. Chickasaw Capital Management LLC now owns 5,580,052 shares of the pipeline company’s stock valued at $248,089,000 after acquiring an additional 34,659 shares in the last quarter. Valeo Financial Advisors LLC purchased a new stake in shares of Mplx in the third quarter valued at approximately $217,000. Daymark Wealth Partners LLC increased its holdings in shares of Mplx by 13.5% in the third quarter. Daymark Wealth Partners LLC now owns 34,908 shares of the pipeline company’s stock valued at $1,552,000 after purchasing an additional 4,149 shares during the last quarter. Objectivity Squared LLC lifted its position in Mplx by 2.0% during the third quarter. Objectivity Squared LLC now owns 86,879 shares of the pipeline company’s stock worth $3,836,000 after buying an additional 1,737 shares in the last quarter. Finally, Howard Financial Services LTD. lifted its position in Mplx by 2.0% during the third quarter. Howard Financial Services LTD. now owns 21,278 shares of the pipeline company’s stock worth $946,000 after buying an additional 421 shares in the last quarter. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Mplx Stock Down 0.5 %

Shares of NYSE MPLX opened at $44.08 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.41. The business’s 50 day moving average is $43.15 and its two-hundred day moving average is $42.12. Mplx Lp has a 52-week low of $35.06 and a 52-week high of $45.24. The firm has a market cap of $44.79 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 1.22 and a beta of 1.37.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.17. Mplx had a net margin of 35.95% and a return on equity of 32.68%. The firm 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 earnings per share. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. Research analysts predict that Mplx Lp will post 4.24 EPS for the current year.

Mplx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 9th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.71%. The ex-dividend date of this dividend was Friday, August 9th. Mplx’s dividend payout ratio is currently 87.63%.

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.