Jackson Hole Capital Partners LLC Cuts Stock Holdings in Mplx Lp (NYSE:MPLX)

Jackson Hole Capital Partners LLC trimmed its holdings in shares of Mplx Lp (NYSE:MPLX) by 0.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 48,963 shares of the pipeline company’s stock after selling 300 shares during the period. Jackson Hole Capital Partners LLC’s holdings in Mplx were worth $1,798,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Lee Financial Co raised its stake in shares of Mplx by 5.1% during the third quarter. Lee Financial Co now owns 6,821 shares of the pipeline company’s stock valued at $243,000 after acquiring an additional 329 shares during the last quarter. PSI Advisors LLC raised its stake in shares of Mplx by 63.6% during the fourth quarter. PSI Advisors LLC now owns 900 shares of the pipeline company’s stock valued at $33,000 after acquiring an additional 350 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Mplx by 7.1% during the third quarter. IFP Advisors Inc now owns 5,669 shares of the pipeline company’s stock valued at $202,000 after acquiring an additional 376 shares during the last quarter. Ausdal Financial Partners Inc. raised its stake in shares of Mplx by 4.2% during the fourth quarter. Ausdal Financial Partners Inc. now owns 10,064 shares of the pipeline company’s stock valued at $370,000 after acquiring an additional 410 shares during the last quarter. Finally, D.A. Davidson & CO. raised its stake in Mplx by 2.2% in the third quarter. D.A. Davidson & CO. now owns 19,061 shares of the pipeline company’s stock worth $678,000 after buying an additional 415 shares in the last quarter. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MPLX. Raymond James increased their price target on shares of Mplx from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. UBS Group increased their price target on shares of Mplx from $46.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Royal Bank of Canada increased their price target on shares of Mplx from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Barclays increased their price target on shares of Mplx from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Finally, StockNews.com raised shares of Mplx from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 31st. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $43.86.

Mplx Stock Performance

MPLX traded up $0.10 during trading on Thursday, hitting $41.88. The company’s stock had a trading volume of 1,290,642 shares, compared to its average volume of 2,185,983. The company has a quick ratio of 1.01, a current ratio of 1.07 and a debt-to-equity ratio of 1.52. Mplx Lp has a one year low of $33.12 and a one year high of $42.89. The firm has a market cap of $42.32 billion, a PE ratio of 10.96 and a beta of 1.35. The business’s 50 day simple moving average is $40.48 and its 200-day simple moving average is $37.92.

Mplx (NYSE:MPLX) last released its quarterly earnings results on Tuesday, January 30th. The pipeline company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.15. Mplx had a net margin of 34.82% and a return on equity of 31.85%. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period last year, the firm earned $0.78 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, sell-side analysts predict that Mplx Lp will post 4.11 EPS for the current fiscal year.

Mplx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Friday, May 3rd will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $3.40 annualized dividend and a dividend yield of 8.12%. Mplx’s payout ratio is 89.24%.

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.