Axxcess Wealth Management LLC Buys 3,204 Shares of Mplx Lp (NYSE:MPLX)

Axxcess Wealth Management LLC increased its stake in shares of Mplx Lp (NYSE:MPLX) by 43.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,510 shares of the pipeline company’s stock after purchasing an additional 3,204 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Mplx were worth $448,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Quent Capital LLC bought a new position in Mplx in the 1st quarter valued at $35,000. Pacifica Partners Inc. bought a new position in Mplx in the 1st quarter valued at $41,000. Crewe Advisors LLC bought a new position in Mplx in the 1st quarter valued at $41,000. Register Financial Advisors LLC bought a new position in Mplx in the 1st quarter valued at $42,000. Finally, CWM LLC grew its position in Mplx by 73.3% in the 2nd quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock valued at $45,000 after acquiring an additional 451 shares during the last quarter. Institutional investors own 24.25% of the company’s stock.

Mplx Trading Up 0.2 %

Shares of NYSE MPLX opened at $44.20 on Friday. 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 stock has a market capitalization of $44.92 billion, a P/E ratio of 11.39, a price-to-earnings-growth ratio of 1.19 and a beta of 1.37. Mplx Lp has a 1-year low of $34.52 and a 1-year high of $44.59. The business has a fifty day moving average price of $42.57 and a 200 day moving average price of $41.67.

Mplx (NYSE:MPLX) last issued its quarterly earnings data 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 firm 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 firm’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 EPS. Equities research analysts expect that Mplx Lp will post 4.24 EPS for the current fiscal year.

Mplx Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 7.69%. The ex-dividend date was Friday, August 9th. Mplx’s dividend payout ratio (DPR) is currently 87.63%.

Wall Street Analyst Weigh In

MPLX has been the topic of several research analyst reports. UBS Group upped their price objective on Mplx from $49.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com upgraded Mplx from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 target price on shares of Mplx in a report on Wednesday, August 28th. Wells Fargo & Company upped their target price on Mplx from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Finally, Barclays lowered their target price on Mplx from $46.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Mplx has an average rating of “Buy” and a consensus price target 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.