Mplx Lp (NYSE:MPLX) Stock Holdings Lifted by Moors & Cabot Inc.

Moors & Cabot Inc. lifted its holdings in shares of Mplx Lp (NYSE:MPLX) by 11.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,170 shares of the pipeline company’s stock after buying an additional 1,924 shares during the period. Moors & Cabot Inc.’s holdings in Mplx were worth $816,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quent Capital LLC acquired a new stake in shares of Mplx during the 1st quarter worth approximately $35,000. Pacifica Partners Inc. bought a new position in Mplx during the 1st quarter worth $41,000. Crewe Advisors LLC acquired a new stake in Mplx in the first quarter worth $41,000. Register Financial Advisors LLC bought a new stake in Mplx in the first quarter valued at $42,000. Finally, CWM LLC boosted its holdings in shares of Mplx by 73.3% during the second quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock valued at $45,000 after acquiring an additional 451 shares during the period. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Stock Performance

Shares of MPLX opened at $44.05 on Thursday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.99 and a quick ratio of 0.95. The firm’s 50 day moving average is $42.48 and its 200-day moving average is $41.62. Mplx Lp has a 12-month low of $34.52 and a 12-month high of $44.49. The stock has a market capitalization of $44.76 billion, a P/E ratio of 11.35, a P/E/G ratio of 1.19 and a beta of 1.37.

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

Mplx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 9th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 7.72%. The ex-dividend date was Friday, August 9th. Mplx’s dividend payout ratio (DPR) is 87.63%.

Analysts Set New Price Targets

Several brokerages recently weighed in on MPLX. Wells Fargo & Company lifted their price objective on shares of Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Royal Bank of Canada reiterated 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 Mplx from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 11th. Barclays cut their target price on Mplx from $46.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, UBS Group increased their price target on Mplx from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $46.56.

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.