Choreo LLC Invests $258,000 in Mplx Lp (NYSE:MPLX)

Choreo LLC purchased a new stake in Mplx Lp (NYSE:MPLX) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 6,026 shares of the pipeline company’s stock, valued at approximately $258,000.

A number of other large investors also recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC acquired a new position in Mplx during the second quarter worth $88,000. PFG Investments LLC acquired a new position in shares of Mplx during the 2nd quarter worth about $1,238,000. Caprock Group LLC purchased a new position in Mplx in the 2nd quarter valued at about $805,000. Strategic Financial Concepts LLC boosted its holdings in Mplx by 4,274.2% in the 2nd quarter. Strategic Financial Concepts LLC now owns 811,371 shares of the pipeline company’s stock worth $346,000 after buying an additional 792,822 shares during the last quarter. Finally, Oxbow Advisors LLC increased its stake in Mplx by 33.5% during the 2nd quarter. Oxbow Advisors LLC now owns 401,696 shares of the pipeline company’s stock worth $17,108,000 after buying an additional 100,853 shares in the last quarter. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Price Performance

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

Mplx (NYSE:MPLX) last released 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 company had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.96 billion. Mplx had a net margin of 35.95% and a return on equity of 32.68%. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 EPS. On average, sell-side analysts anticipate that Mplx Lp will post 4.24 EPS for the current year.

Mplx Dividend Announcement

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 7.72%. The ex-dividend date was Friday, August 9th. Mplx’s dividend payout ratio is presently 87.63%.

Analyst Ratings Changes

Several brokerages recently commented on MPLX. UBS Group boosted their price target on Mplx from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 target price on shares of Mplx in a research report on Wednesday, August 28th. Wells Fargo & Company boosted their price target on shares of Mplx from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. StockNews.com upgraded shares of Mplx from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 11th. Finally, Barclays lowered their target price on Mplx from $46.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average 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.