Greenup Street Wealth Management LLC Decreases Stake in Mplx Lp $MPLX

Greenup Street Wealth Management LLC cut its stake in shares of Mplx Lp (NYSE:MPLX) by 90.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,610 shares of the pipeline company’s stock after selling 41,567 shares during the quarter. Greenup Street Wealth Management LLC’s holdings in Mplx were worth $263,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MPLX. Solstein Capital LLC acquired a new stake in Mplx in the third quarter valued at approximately $25,000. EQ Wealth Advisors LLC purchased a new position in Mplx in the fourth quarter worth approximately $32,000. Wiser Advisor Group LLC acquired a new position in Mplx during the 3rd quarter worth approximately $38,000. Prosperity Bancshares Inc acquired a new position in Mplx during the 4th quarter worth approximately $43,000. Finally, Groesbeck Investment Management Corp NJ acquired a new position in Mplx during the 4th quarter worth approximately $49,000. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MPLX. Morgan Stanley reduced their price objective on shares of Mplx from $62.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 20th. Truist Financial lowered their target price on shares of Mplx from $67.00 to $66.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Barclays increased their target price on Mplx from $58.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. UBS Group raised their price target on Mplx from $64.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Finally, Wells Fargo & Company decreased their price target on Mplx from $63.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Mplx currently has a consensus rating of “Moderate Buy” and an average price target of $61.60.

Mplx Stock Down 2.5%

MPLX stock opened at $56.25 on Thursday. The company has a current ratio of 1.10, a quick ratio of 1.05 and a debt-to-equity ratio of 1.71. Mplx Lp has a twelve month low of $47.80 and a twelve month high of $59.98. The company’s 50 day moving average is $55.73 and its two-hundred day moving average is $55.97. The stock has a market cap of $57.08 billion, a P/E ratio of 12.18, a PEG ratio of 5.53 and a beta of 0.48.

Mplx (NYSE:MPLX) last issued its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.15). Mplx had a return on equity of 32.74% and a net margin of 36.38%.The company had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the prior year, the firm posted $1.10 EPS. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. Research analysts expect that Mplx Lp will post 4.22 earnings per share for the current fiscal year.

Mplx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were given a $1.0765 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $4.31 dividend on an annualized basis and a yield of 7.7%. Mplx’s payout ratio is 93.29%.

Mplx Company 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.