ELCO Management Co. LLC Has $4.54 Million Stake in Mplx Lp $MPLX

ELCO Management Co. LLC lifted its position in shares of Mplx Lp (NYSE:MPLX) by 1.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 88,139 shares of the pipeline company’s stock after acquiring an additional 1,321 shares during the quarter. Mplx makes up about 2.4% of ELCO Management Co. LLC’s investment portfolio, making the stock its 10th largest position. ELCO Management Co. LLC’s holdings in Mplx were worth $4,540,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in MPLX. Winebrenner Capital Management LLC grew its stake in Mplx by 5.3% in the second quarter. Winebrenner Capital Management LLC now owns 5,928 shares of the pipeline company’s stock valued at $305,000 after acquiring an additional 300 shares during the period. Mizuho Markets Cayman LP bought a new stake in Mplx during the second quarter worth about $2,620,000. Private Wealth Partners LLC raised its holdings in Mplx by 21.7% during the second quarter. Private Wealth Partners LLC now owns 72,900 shares of the pipeline company’s stock worth $3,755,000 after acquiring an additional 13,000 shares in the last quarter. Bessemer Group Inc. raised its holdings in Mplx by 0.8% during the second quarter. Bessemer Group Inc. now owns 25,081 shares of the pipeline company’s stock worth $1,291,000 after acquiring an additional 200 shares in the last quarter. Finally, Delta Investment Management LLC raised its stake in Mplx by 22.1% in the second quarter. Delta Investment Management LLC now owns 24,765 shares of the pipeline company’s stock valued at $1,276,000 after buying an additional 4,478 shares during the period. 24.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wall Street Zen lowered Mplx from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Wells Fargo & Company decreased their target price on Mplx from $60.00 to $59.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 23rd. Weiss Ratings downgraded Mplx from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, October 8th. Morgan Stanley upped their target price on Mplx from $57.00 to $60.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 26th. Finally, Barclays upped their target price on Mplx from $52.00 to $53.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.50.

Mplx Trading Down 0.1%

Shares of NYSE:MPLX opened at $50.75 on Wednesday. The company has a market capitalization of $51.71 billion, a P/E ratio of 12.05, a P/E/G ratio of 1.55 and a beta of 0.68. Mplx Lp has a 1 year low of $43.62 and a 1 year high of $54.87. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.03 and a quick ratio of 0.97. The business’s 50 day simple moving average is $50.16 and its 200 day simple moving average is $50.65.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, August 5th. The pipeline company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.05). The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $3.13 billion. Mplx had a return on equity of 30.95% and a net margin of 35.44%.The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.15 EPS. On average, research analysts anticipate that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, November 7th will be given a dividend of $1.0765 per share. This is an increase from Mplx’s previous quarterly dividend of $0.96. This represents a $4.31 dividend on an annualized basis and a yield of 8.5%. The ex-dividend date of this dividend is Friday, November 7th. Mplx’s dividend payout ratio (DPR) is currently 90.97%.

Mplx Company Profile

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Crude Oil and Products Logistics and Natural Gas and NGL Services segments. The Crude Oil and Products Logistics segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.