Wealth Alliance Sells 1,463 Shares of Mplx Lp (NYSE:MPLX)

Wealth Alliance decreased its position in Mplx Lp (NYSE:MPLX) by 12.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,040 shares of the pipeline company’s stock after selling 1,463 shares during the period. Wealth Alliance’s holdings in Mplx were worth $428,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Quent Capital LLC bought a new stake in shares of Mplx during the first quarter valued at approximately $35,000. Pacifica Partners Inc. bought a new stake in shares of Mplx in the 1st quarter worth $41,000. Crewe Advisors LLC purchased a new position in shares of Mplx in the first quarter worth $41,000. Register Financial Advisors LLC bought a new position in shares of Mplx during the first quarter valued at $42,000. Finally, CWM LLC boosted its position 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 buying an additional 451 shares during the last quarter. 24.25% of the stock is owned by hedge funds and other institutional investors.

Mplx Price Performance

Shares of Mplx stock opened at $44.14 on Friday. The stock has a market cap of $44.85 billion, a P/E ratio of 11.38, a P/E/G ratio of 1.19 and a beta of 1.37. 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 stock’s fifty day moving average is $42.53 and its 200 day moving average is $41.63. Mplx Lp has a one year low of $34.52 and a one year high of $44.59.

Mplx (NYSE:MPLX) last posted its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.98 by $0.17. The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.96 billion. Mplx had a return on equity of 32.68% and a net margin of 35.95%. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 earnings per share. Sell-side analysts anticipate that Mplx Lp will post 4.24 earnings per share for the current year.

Mplx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders 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 7.70%. Mplx’s payout ratio is currently 87.63%.

Analyst Ratings Changes

A number of equities analysts have weighed in on MPLX shares. UBS Group boosted their target price on Mplx from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays decreased their price objective on shares of Mplx from $46.00 to $45.00 and set an “overweight” rating for the company in a report on Monday. Wells Fargo & Company raised their target price on shares of Mplx from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $47.00 target price on shares of Mplx in a research note on Wednesday, August 28th. Finally, StockNews.com raised Mplx from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 11th. 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 data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price 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.