Pathway Financial Advisers LLC Boosts Stock Holdings in Mplx Lp (NYSE:MPLX)

Pathway Financial Advisers LLC boosted its position in Mplx Lp (NYSE:MPLX) by 6.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,758 shares of the pipeline company’s stock after buying an additional 1,457 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Mplx were worth $969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in MPLX. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Mplx by 4.4% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 41,892 shares of the pipeline company’s stock valued at $1,538,000 after buying an additional 1,768 shares in the last quarter. Peapack Gladstone Financial Corp boosted its holdings in shares of Mplx by 6.0% in the fourth quarter. Peapack Gladstone Financial Corp now owns 8,891 shares of the pipeline company’s stock worth $326,000 after acquiring an additional 504 shares during the period. CIBC Private Wealth Group LLC grew its position in shares of Mplx by 23.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,028,327 shares of the pipeline company’s stock valued at $111,200,000 after purchasing an additional 574,737 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Mplx by 35.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 37,417 shares of the pipeline company’s stock valued at $1,374,000 after purchasing an additional 9,717 shares during the period. Finally, Bollard Group LLC lifted its holdings in Mplx by 2.3% during the 4th quarter. Bollard Group LLC now owns 316,461 shares of the pipeline company’s stock worth $11,620,000 after purchasing an additional 7,137 shares in the last quarter. 24.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MPLX has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted 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. UBS Group increased their target price on shares of Mplx from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Royal Bank of Canada restated an “outperform” rating and set a $47.00 price target on shares of Mplx in a research report on Wednesday, August 28th. Barclays lowered their price objective on Mplx from $46.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Finally, StockNews.com cut Mplx from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 23rd. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Mplx has an average rating of “Buy” and an average target price of $46.56.

Mplx Trading Down 0.5 %

Shares of MPLX stock opened at $44.47 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 firm has a market cap of $45.19 billion, a P/E ratio of 11.46, a price-to-earnings-growth ratio of 1.24 and a beta of 1.37. The business has a 50-day moving average price of $42.81 and a two-hundred day moving average price of $41.86. Mplx Lp has a 12-month low of $34.52 and a 12-month high of $45.24.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $1.15 EPS for the quarter, beating 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 net margin of 35.95% and a return on equity of 32.68%. The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period last year, the business earned $0.91 earnings per share. Equities analysts anticipate that Mplx Lp will post 4.24 EPS for the current fiscal 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 issued a $0.85 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.40 annualized dividend and a dividend yield of 7.65%. Mplx’s dividend payout ratio is currently 87.63%.

About Mplx

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.