B. Riley Wealth Advisors Inc. Has $3.48 Million Stock Position in Mplx Lp (NYSE:MPLX)

B. Riley Wealth Advisors Inc. lessened its stake in shares of Mplx Lp (NYSE:MPLX) by 26.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 81,659 shares of the pipeline company’s stock after selling 29,760 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Mplx were worth $3,478,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

Several brokerages have recently commented on MPLX. Wells Fargo & Company lifted 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. Barclays decreased their price objective on shares of Mplx from $46.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. UBS Group raised their target price 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. StockNews.com lowered shares of Mplx from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 23rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $47.00 price objective on shares of Mplx in a research report on Wednesday, August 28th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Mplx presently has an average rating of “Buy” and an average price target of $46.56.

Mplx Price Performance

NYSE:MPLX opened at $44.47 on Tuesday. 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 $45.19 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 1.24 and a beta of 1.37. Mplx Lp has a 52 week low of $34.52 and a 52 week high of $45.24. The firm’s 50-day simple moving average is $42.81 and its 200 day simple moving average is $41.86.

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, beating analysts’ consensus estimates of $0.98 by $0.17. The company had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $2.96 billion. Mplx had a net margin of 35.95% and a return on equity of 32.68%. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 earnings per share. As a group, sell-side analysts predict that Mplx Lp will post 4.24 earnings per share for the current year.

Mplx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 9th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 7.65%. The ex-dividend date was Friday, August 9th. Mplx’s dividend payout ratio (DPR) is currently 87.63%.

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.