Mplx Lp (NYSE:MPLX) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC reduced its position in shares of Mplx Lp (NYSE:MPLX) by 45.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,078 shares of the pipeline company’s stock after selling 8,500 shares during the period. Axxcess Wealth Management LLC’s holdings in Mplx were worth $370,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. JFS Wealth Advisors LLC bought a new stake in shares of Mplx in the 3rd quarter worth approximately $33,000. PSI Advisors LLC increased its holdings in shares of Mplx by 63.6% in the fourth quarter. PSI Advisors LLC now owns 900 shares of the pipeline company’s stock valued at $33,000 after buying an additional 350 shares in the last quarter. HBC Financial Services PLLC acquired a new stake in shares of Mplx during the 4th quarter valued at $36,000. Fortitude Family Office LLC bought a new stake in shares of Mplx during the 4th quarter worth $41,000. Finally, Rational Advisors LLC acquired a new position in shares of Mplx in the 3rd quarter worth $43,000. 24.25% of the stock is currently owned by institutional investors.

Mplx Stock Performance

Shares of MPLX opened at $41.77 on Thursday. Mplx Lp has a 12 month low of $33.12 and a 12 month high of $42.90. The company’s fifty day moving average is $40.88 and its 200-day moving average is $38.28. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 1.44. The firm has a market cap of $42.22 billion, a price-to-earnings ratio of 10.77 and a beta of 1.35.

Mplx (NYSE:MPLX) last released its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). Mplx had a net margin of 34.96% and a return on equity of 31.70%. The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the prior year, the business earned $0.91 EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities analysts expect that Mplx Lp will post 4.06 EPS for the current fiscal year.

Mplx Dividend Announcement

The firm 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 $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $3.40 annualized dividend and a dividend yield of 8.14%. Mplx’s dividend payout ratio is 87.63%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MPLX. Barclays increased their price target on Mplx from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Royal Bank of Canada lifted their target price on shares of Mplx from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. upped their price target on shares of Mplx from $45.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. StockNews.com downgraded shares of Mplx from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 1st. Finally, Stifel Nicolaus raised their price objective on Mplx from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Mplx has a consensus rating of “Moderate Buy” and an average price target of $45.11.

Mplx Company 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.