Alpha Cubed Investments LLC Acquires New Stake in Mplx Lp (NYSE:MPLX)

Alpha Cubed Investments LLC bought a new position in Mplx Lp (NYSE:MPLX) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,595 shares of the pipeline company’s stock, valued at approximately $204,000.

Several other institutional investors and hedge funds have also made changes to their positions in MPLX. Quent Capital LLC bought a new position in shares of Mplx in the first quarter worth about $35,000. Pacifica Partners Inc. purchased a new stake in Mplx in the 1st quarter valued at about $41,000. Crewe Advisors LLC bought a new position in Mplx in the 1st quarter worth about $41,000. Register Financial Advisors LLC purchased a new position in shares of Mplx during the first quarter worth approximately $42,000. Finally, CWM LLC raised its stake 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 in the last quarter. 24.25% of the stock is currently owned by institutional investors.

Mplx Price Performance

MPLX opened at $43.79 on Wednesday. The firm has a market capitalization of $44.49 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 1.24 and a beta of 1.37. 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 business’s 50-day moving average is $42.98 and its two-hundred day moving average is $42.01. Mplx Lp has a 1 year low of $35.06 and a 1 year high of $45.24.

Mplx (NYSE:MPLX) last issued its quarterly earnings data 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. Mplx had a net margin of 35.95% and a return on equity of 32.68%. The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the previous year, the firm earned $0.91 EPS. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. Research analysts anticipate that Mplx Lp will post 4.24 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 9th were given a $0.85 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.77%. Mplx’s payout ratio is 87.63%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on Mplx from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Barclays dropped their price target on Mplx from $46.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Royal Bank of Canada restated an “outperform” rating and issued a $47.00 price objective on shares of Mplx in a report on Wednesday, August 28th. UBS Group upped their price objective 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. Finally, StockNews.com downgraded shares of Mplx from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 23rd. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Mplx presently has a consensus rating of “Buy” and a consensus price target of $47.38.

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.