Tred Avon Family Wealth LLC Takes Position in Mplx Lp $MPLX

Tred Avon Family Wealth LLC acquired a new position in Mplx Lp (NYSE:MPLX) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 16,947 shares of the pipeline company’s stock, valued at approximately $847,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of MPLX. Chickasaw Capital Management LLC increased its holdings in Mplx by 2.2% during the 3rd quarter. Chickasaw Capital Management LLC now owns 5,611,824 shares of the pipeline company’s stock worth $280,311,000 after purchasing an additional 120,216 shares during the period. Keudell Morrison Wealth Management bought a new position in Mplx during the 2nd quarter worth about $335,000. Hilltop National Bank bought a new stake in shares of Mplx in the 2nd quarter valued at about $330,000. Fort Washington Investment Advisors Inc. OH bought a new position in shares of Mplx during the third quarter valued at approximately $990,000. Finally, Catalyst Capital Advisors LLC raised its stake in Mplx by 4.2% in the second quarter. Catalyst Capital Advisors LLC now owns 364,486 shares of the pipeline company’s stock worth $18,775,000 after buying an additional 14,524 shares in the last quarter. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MPLX has been the topic of a number of analyst reports. Zacks Research upgraded Mplx from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Raymond James Financial downgraded shares of Mplx from an “outperform” rating to a “market perform” rating in a research note on Monday, January 5th. Morgan Stanley raised their price objective on Mplx from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. Barclays upped their price objective on shares of Mplx from $53.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of Mplx in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Mplx currently has an average rating of “Moderate Buy” and a consensus price target of $59.00.

Mplx Stock Performance

Shares of MPLX stock opened at $56.57 on Friday. Mplx Lp has a 52-week low of $44.60 and a 52-week high of $56.71. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 1.66. The stock has a market cap of $57.54 billion, a PE ratio of 11.99 and a beta of 0.56. The business has a 50-day simple moving average of $53.88 and a 200-day simple moving average of $51.67.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, November 4th. The pipeline company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.45. The company had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Mplx had a net margin of 37.61% and a return on equity of 34.14%. On average, equities analysts expect that Mplx Lp will post 4.41 EPS for the current year.

Mplx Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 7th were paid a dividend of $1.0765 per share. This is an increase from Mplx’s previous quarterly dividend of $0.96. The ex-dividend date was Friday, November 7th. This represents a $4.31 annualized dividend and a yield of 7.6%. Mplx’s dividend payout ratio (DPR) is presently 91.31%.

Mplx Profile

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.