CWA Asset Management Group LLC Makes New $922,000 Investment in Mplx Lp (NYSE:MPLX)

CWA Asset Management Group LLC bought a new stake in Mplx Lp (NYSE:MPLX) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 20,740 shares of the pipeline company’s stock, valued at approximately $922,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mcdonald Partners LLC raised its stake in shares of Mplx by 1.4% during the second quarter. Mcdonald Partners LLC now owns 17,180 shares of the pipeline company’s stock worth $732,000 after purchasing an additional 239 shares during the last quarter. Cherry Creek Investment Advisors Inc. raised its position in Mplx by 2.0% during the 3rd quarter. Cherry Creek Investment Advisors Inc. now owns 14,204 shares of the pipeline company’s stock worth $632,000 after buying an additional 279 shares during the last quarter. Sound Income Strategies LLC lifted its stake in shares of Mplx by 10.4% in the 2nd quarter. Sound Income Strategies LLC now owns 2,992 shares of the pipeline company’s stock worth $127,000 after acquiring an additional 282 shares during the period. Fidelis Capital Partners LLC boosted its holdings in shares of Mplx by 3.9% in the third quarter. Fidelis Capital Partners LLC now owns 9,032 shares of the pipeline company’s stock valued at $396,000 after acquiring an additional 338 shares in the last quarter. Finally, Addis & Hill Inc increased its stake in shares of Mplx by 2.7% during the third quarter. Addis & Hill Inc now owns 13,462 shares of the pipeline company’s stock worth $599,000 after acquiring an additional 357 shares during the period. 24.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. StockNews.com lowered Mplx from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 6th. Barclays lifted their price target on Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Royal Bank of Canada increased their price objective on Mplx from $47.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Bank of America began coverage on shares of Mplx in a research report on Thursday, October 17th. They set an “underperform” rating and a $43.00 target price on the stock. Finally, Wells Fargo & Company increased their price target on shares of Mplx from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $48.00.

Mplx Stock Performance

NYSE:MPLX opened at $45.98 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $46.93 billion, a P/E ratio of 10.84, a price-to-earnings-growth ratio of 1.25 and a beta of 1.37. The firm has a 50-day moving average price of $44.16 and a two-hundred day moving average price of $42.56. Mplx Lp has a twelve month low of $35.07 and a twelve month high of $47.62.

Mplx (NYSE:MPLX) last issued its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.04). The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.09 billion. Mplx had a return on equity of 32.70% and a net margin of 36.77%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 earnings per share. As a group, research analysts expect that Mplx Lp will post 4.31 earnings per share for the current fiscal year.

Mplx Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be given a $0.9565 dividend. This is an increase from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 annualized dividend and a dividend yield of 8.32%. The ex-dividend date of this dividend is Friday, November 8th. Mplx’s dividend payout ratio is currently 80.19%.

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.