Griffin Asset Management Inc. Has $682,000 Position in Mplx Lp (NYSE:MPLX)

Griffin Asset Management Inc. grew its position in Mplx Lp (NYSE:MPLX) by 2.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,752 shares of the pipeline company’s stock after buying an additional 350 shares during the quarter. Griffin Asset Management Inc.’s holdings in Mplx were worth $682,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. F&V Capital Management LLC grew its holdings in Mplx by 58.1% during the 1st quarter. F&V Capital Management LLC now owns 12,250 shares of the pipeline company’s stock worth $656,000 after acquiring an additional 4,500 shares during the last quarter. GraniteShares Advisors LLC grew its holdings in Mplx by 6.5% during the 1st quarter. GraniteShares Advisors LLC now owns 54,761 shares of the pipeline company’s stock worth $2,931,000 after acquiring an additional 3,320 shares during the last quarter. Birch Capital Management LLC grew its holdings in Mplx by 1.8% during the 1st quarter. Birch Capital Management LLC now owns 31,044 shares of the pipeline company’s stock worth $1,661,000 after acquiring an additional 534 shares during the last quarter. Capital Advisory Group Advisory Services LLC bought a new stake in Mplx during the 1st quarter worth approximately $346,000. Finally, Rowlandmiller & PARTNERS.ADV bought a new stake in shares of Mplx in the 1st quarter valued at $117,000. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on MPLX. Morgan Stanley upped their price objective on shares of Mplx from $56.00 to $62.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 11th. Barclays reduced their price target on shares of Mplx from $55.00 to $52.00 and set an “overweight” rating for the company in a research report on Monday, May 12th. Wall Street Zen downgraded shares of Mplx from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 2nd. Finally, Royal Bank of Canada raised their target price on shares of Mplx from $55.00 to $58.00 and gave the company an “outperform” rating in a research note on Monday, March 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Mplx presently has an average rating of “Moderate Buy” and an average price target of $55.50.

Mplx Stock Performance

Shares of MPLX stock opened at $51.81 on Friday. Mplx Lp has a 12 month low of $39.95 and a 12 month high of $54.87. The stock has a market cap of $52.88 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 1.69 and a beta of 0.74. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. The company’s fifty day moving average price is $50.59 and its 200-day moving average price is $50.97.

Mplx (NYSE:MPLX) last posted its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.03. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $3.15 billion. Mplx had a return on equity of 31.94% and a net margin of 36.18%. Mplx’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 EPS. On average, equities analysts expect that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 9th were given a $0.9565 dividend. This represents a $3.83 dividend on an annualized basis and a yield of 7.39%. The ex-dividend date was Friday, May 9th. Mplx’s dividend payout ratio (DPR) is 88.22%.

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.