Holderness Investments Co. Takes $343,000 Position in Mplx Lp (NYSE:MPLX)

Holderness Investments Co. bought a new position in shares of Mplx Lp (NYSE:MPLX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,065 shares of the pipeline company’s stock, valued at approximately $343,000.

Several other institutional investors also recently bought and sold shares of MPLX. Quent Capital LLC purchased a new position in shares of Mplx in the 1st quarter valued at about $35,000. Pacifica Partners Inc. acquired a new stake in Mplx in the 1st quarter valued at $41,000. Crewe Advisors LLC acquired a new stake in Mplx in the 1st quarter valued at $41,000. Register Financial Advisors LLC purchased a new stake in Mplx in the 1st quarter worth $42,000. Finally, CWM LLC raised its position in Mplx by 73.3% during the second quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock worth $45,000 after acquiring an additional 451 shares during the period. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Mplx Stock Up 0.2 %

MPLX stock opened at $44.20 on Monday. The firm’s 50 day moving average price is $42.57 and its 200-day moving average price is $41.69. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.95 and a current ratio of 0.99. The firm has a market cap of $44.92 billion, a PE ratio of 11.39, a PEG ratio of 1.19 and a beta of 1.37. Mplx Lp has a one year low of $34.52 and a one year high of $44.59.

Mplx (NYSE:MPLX) last released its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.17. The business had revenue of $3.05 billion during 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 revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.91 EPS. On average, equities research analysts anticipate that Mplx Lp will post 4.24 EPS for the current year.

Mplx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 9th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 7.69%. The ex-dividend date of this dividend was Friday, August 9th. Mplx’s payout ratio is currently 87.63%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MPLX. Royal Bank of Canada reissued an “outperform” rating and set a $47.00 target price on shares of Mplx in a research note on Wednesday, August 28th. UBS Group increased their target price on Mplx from $49.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Wells Fargo & Company raised their target price on Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Barclays reduced their price objective on Mplx from $46.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Finally, StockNews.com raised shares of Mplx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 11th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $46.56.

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.