26,750 Shares in Mplx Lp (MPLX) Purchased by Cypress Wealth Advisors LLC
Cypress Wealth Advisors LLC bought a new stake in Mplx Lp (NYSE:MPLX) in the fourth quarter, HoldingsChannel reports. The firm bought 26,750 shares of the pipeline company’s stock, valued at approximately $949,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Zimmer Partners LP raised its position in shares of Mplx by 32.1% in the fourth quarter. Zimmer Partners LP now owns 1,884,849 shares of the pipeline company’s stock valued at $66,856,000 after buying an additional 458,375 shares during the last quarter. Northeast Financial Consultants Inc raised its position in shares of Mplx by 25.3% in the fourth quarter. Northeast Financial Consultants Inc now owns 49,592 shares of the pipeline company’s stock valued at $1,759,000 after buying an additional 10,000 shares during the last quarter. Captrust Financial Advisors acquired a new stake in shares of Mplx in the fourth quarter valued at about $179,000. Raymond James & Associates raised its position in shares of Mplx by 26.9% in the fourth quarter. Raymond James & Associates now owns 429,036 shares of the pipeline company’s stock valued at $15,218,000 after buying an additional 90,892 shares during the last quarter. Finally, EnTrustPermal Partners Offshore LP acquired a new stake in shares of Mplx in the fourth quarter valued at about $2,791,000. Institutional investors and hedge funds own 32.23% of the company’s stock.
Shares of Mplx Lp (NYSE MPLX) opened at $34.71 on Thursday. Mplx Lp has a 12-month low of $30.88 and a 12-month high of $39.38. The stock has a market cap of $27,550.00, a PE ratio of 33.06, a P/E/G ratio of 3.28 and a beta of 1.32. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.38 and a current ratio of 0.43.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Monday, February 5th were given a dividend of $0.6075 per share. This is a boost from Mplx’s previous quarterly dividend of $0.44. This represents a $2.43 annualized dividend and a yield of 7.00%. The ex-dividend date was Friday, February 2nd. Mplx’s dividend payout ratio (DPR) is presently 231.43%.
A number of equities research analysts have recently commented on MPLX shares. Zacks Investment Research upgraded shares of Mplx from a “sell” rating to a “hold” rating in a research report on Tuesday, February 20th. Guggenheim cut shares of Mplx from a “buy” rating to a “neutral” rating and set a $36.00 target price for the company. in a research report on Monday, December 18th. Barclays cut shares of Mplx from an “overweight” rating to an “equal weight” rating and set a $39.00 target price for the company. in a research report on Wednesday, January 17th. Royal Bank of Canada reiterated a “buy” rating and issued a $46.00 target price on shares of Mplx in a research report on Wednesday, November 15th. Finally, Bank of America started coverage on shares of Mplx in a research report on Tuesday, January 9th. They set a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $41.55.
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MPLX LP is a master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets. The Company is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids (NGLs), and the gathering, transportation and storage of crude oil and refined petroleum products.
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