Objectivity Squared LLC Purchases 1,737 Shares of Mplx Lp (NYSE:MPLX)

Objectivity Squared LLC raised its position in shares of Mplx Lp (NYSE:MPLX) by 2.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 86,879 shares of the pipeline company’s stock after purchasing an additional 1,737 shares during the quarter. Mplx accounts for approximately 2.7% of Objectivity Squared LLC’s holdings, making the stock its 12th biggest position. Objectivity Squared LLC’s holdings in Mplx were worth $3,836,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MPLX. Quent Capital LLC bought a new stake in shares of Mplx during the 1st quarter valued at $35,000. Pacifica Partners Inc. purchased a new position in shares of Mplx during the 1st quarter valued at about $41,000. Crewe Advisors LLC bought a new position in shares of Mplx during the 1st quarter valued at approximately $41,000. Register Financial Advisors LLC purchased a new stake in Mplx in the 1st quarter worth approximately $42,000. Finally, CWM LLC raised its stake in Mplx by 73.3% during the 2nd quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock worth $45,000 after acquiring an additional 451 shares during the period. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on MPLX. UBS Group raised their price objective on shares of Mplx from $49.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Barclays lowered their price target on Mplx from $46.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Wells Fargo & Company lifted their price objective on shares of Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. StockNews.com cut 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 reiterated an “outperform” rating and issued a $47.00 price target on shares of Mplx in a research note on Wednesday, August 28th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $47.38.

Mplx Stock Down 0.1 %

NYSE MPLX traded down $0.06 on Wednesday, reaching $43.72. 170,943 shares of the stock traded hands, compared to its average volume of 1,852,811. Mplx Lp has a 12 month low of $35.06 and a 12 month high of $45.24. The company has a market cap of $44.43 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 1.24 and a beta of 1.37. The company has a fifty day moving average price of $43.00 and a 200-day moving average price of $42.03. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.95 and a current ratio of 0.99.

Mplx (NYSE:MPLX) last posted its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.98 by $0.17. The business had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.96 billion. Mplx had a net margin of 35.95% and a return on equity of 32.68%. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 EPS. As a group, research analysts forecast that Mplx Lp will post 4.24 EPS for the current fiscal year.

Mplx Dividend Announcement

The company 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. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.78%. The ex-dividend date of this dividend was Friday, August 9th. Mplx’s payout ratio 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.