Asset One Wealth Management LLC Takes Position in Mplx Lp $MPLX

Asset One Wealth Management LLC purchased a new stake in Mplx Lp (NYSE:MPLX) in the fourth quarter, HoldingsChannel reports. The firm purchased 62,403 shares of the pipeline company’s stock, valued at approximately $3,452,000.

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

Mplx Stock Down 0.3%

Shares of NYSE MPLX opened at $55.91 on Thursday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.05 and a current ratio of 1.10. Mplx Lp has a 52 week low of $47.80 and a 52 week high of $59.98. The stock has a market capitalization of $56.73 billion, a P/E ratio of 12.10, a PEG ratio of 5.38 and a beta of 0.48. The stock’s fifty day moving average is $55.63 and its 200 day moving average is $55.89.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the previous year, the business posted $1.10 EPS. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. Sell-side analysts forecast 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 was Friday, May 8th. This represents a $4.31 dividend on an annualized basis and a dividend yield of 7.7%. Mplx’s dividend payout ratio (DPR) is presently 93.29%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MPLX. JPMorgan Chase & Co. lifted their target price on Mplx from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, March 10th. Wells Fargo & Company dropped their target price on Mplx from $63.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Morgan Stanley dropped their target price on Mplx from $62.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, May 20th. Wall Street Zen downgraded Mplx from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Zacks Research raised Mplx from a “strong sell” rating to a “hold” rating in a report on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Mplx presently has an average rating of “Moderate Buy” and a consensus target price of $61.60.

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.