Doliver Advisors LP Increases Stake in Mplx Lp $MPLX

Doliver Advisors LP grew its holdings in Mplx Lp (NYSE:MPLXFree Report) by 22.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 51,748 shares of the pipeline company’s stock after acquiring an additional 9,525 shares during the period. Mplx accounts for 0.7% of Doliver Advisors LP’s portfolio, making the stock its 21st largest holding. Doliver Advisors LP’s holdings in Mplx were worth $2,915,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. EQ Wealth Advisors LLC bought a new stake in shares of Mplx during the 4th quarter valued at $32,000. Assetmark Inc. raised its holdings in Mplx by 81.5% in the 1st quarter. Assetmark Inc. now owns 559 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 251 shares during the period. Wiser Advisor Group LLC bought a new position in Mplx in the 3rd quarter worth $38,000. Prosperity Bancshares Inc purchased a new position in Mplx during the fourth quarter valued at $43,000. Finally, Axiom Investment Management LLC purchased a new position in Mplx during the first quarter valued at $46,000. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Mplx Trading Up 1.0%

Shares of Mplx stock opened at $59.30 on Wednesday. The company has a market capitalization of $60.18 billion, a P/E ratio of 12.75, a P/E/G ratio of 5.57 and a beta of 0.48. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.83 and a current ratio of 0.89. The company has a fifty day moving average of $57.26 and a 200 day moving average of $56.76. Mplx Lp has a fifty-two week low of $47.80 and a fifty-two week high of $60.95.

Mplx (NYSE:MPLXGet Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The pipeline company reported $1.06 EPS for the quarter, meeting analysts’ consensus estimates of $1.06. The business had revenue of $3.13 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Mplx had a return on equity of 32.83% and a net margin of 35.75%.The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the firm earned $1.03 earnings per share. On average, sell-side analysts anticipate that Mplx Lp will post 4.27 earnings per share for the current fiscal year.

Mplx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, August 7th will be given a dividend of $1.0765 per share. The ex-dividend date is Friday, August 7th. This represents a $4.31 annualized dividend and a dividend yield of 7.3%. Mplx’s dividend payout ratio (DPR) is currently 92.69%.

Wall Street Analyst Weigh In

Several analysts have issued reports on MPLX shares. Wolfe Research lowered Mplx from an “outperform” rating to a “peer perform” rating in a report on Wednesday, July 29th. Morgan Stanley decreased their price objective on Mplx from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 20th. Wells Fargo & Company lifted their price objective on Mplx from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Zacks Research upgraded Mplx from a “strong sell” rating to a “hold” rating in a research note on Friday, June 5th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $60.00 target price on shares of Mplx in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Mplx has an average rating of “Moderate Buy” and a consensus target price of $62.20.

Get Our Latest Stock Analysis on Mplx

About Mplx

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Mplx (NYSE:MPLX)

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