True North Advisors LLC Takes $398,000 Position in Mplx Lp (NYSE:MPLX)

True North Advisors LLC bought a new position in shares of Mplx Lp (NYSE:MPLX) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 8,946 shares of the pipeline company’s stock, valued at approximately $398,000.

Other hedge funds also recently added to or reduced their stakes in the company. Quent Capital LLC acquired a new stake in Mplx during the first quarter worth approximately $35,000. Pacifica Partners Inc. purchased a new stake in Mplx in the 1st quarter valued at $41,000. Crewe Advisors LLC acquired a new stake in Mplx during the 1st quarter worth $41,000. Register Financial Advisors LLC purchased a new position in Mplx during the 1st quarter worth $42,000. Finally, CWM LLC raised its holdings in shares of Mplx by 73.3% in the second quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock valued at $45,000 after buying an additional 451 shares during the last quarter. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MPLX. StockNews.com downgraded Mplx from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 23rd. Wells Fargo & Company increased their target price on Mplx from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. UBS Group boosted their target price on shares of Mplx from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Royal Bank of Canada restated an “outperform” rating and issued a $47.00 price target on shares of Mplx in a research report on Wednesday, August 28th. Finally, Barclays lowered their price objective on shares of Mplx from $46.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $47.38.

Mplx Price Performance

MPLX opened at $43.80 on Wednesday. The company has a 50 day moving average of $43.00 and a two-hundred day moving average of $42.03. Mplx Lp has a 52-week low of $35.06 and a 52-week high of $45.24. 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 company has a market cap of $44.51 billion, a P/E ratio of 11.28, a P/E/G ratio of 1.24 and a beta of 1.37.

Mplx (NYSE:MPLX) last released its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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 posted $0.91 EPS. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. On average, analysts expect that Mplx Lp will post 4.24 earnings per share for the current year.

Mplx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 9th were given a $0.85 dividend. The ex-dividend date was Friday, August 9th. This represents a $3.40 annualized dividend and a yield of 7.76%. Mplx’s dividend payout ratio is presently 87.63%.

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.