Turtle Creek Wealth Advisors LLC Acquires New Holdings in Mplx Lp (NYSE:MPLX)

Turtle Creek Wealth Advisors LLC acquired a new stake in Mplx Lp (NYSE:MPLX) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 11,849 shares of the pipeline company’s stock, valued at approximately $634,000.

Several other hedge funds have also recently bought and sold shares of the company. Oxbow Advisors LLC raised its position in shares of Mplx by 1.0% during the 1st quarter. Oxbow Advisors LLC now owns 402,606 shares of the pipeline company’s stock worth $21,547,000 after buying an additional 3,904 shares in the last quarter. Stillwater Wealth Management Group bought a new stake in shares of Mplx during the 1st quarter worth about $241,000. ARK & TLK Investments LLC bought a new stake in shares of Mplx during the 1st quarter worth about $221,000. Applied Capital LLC FL raised its position in shares of Mplx by 101.4% during the 1st quarter. Applied Capital LLC FL now owns 17,570 shares of the pipeline company’s stock worth $940,000 after buying an additional 8,845 shares in the last quarter. Finally, Austin Wealth Management LLC bought a new stake in shares of Mplx during the 1st quarter worth about $250,000. 24.25% of the stock is currently owned by institutional investors.

Mplx Stock Performance

MPLX stock opened at $50.71 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $51.76 billion, a price-to-earnings ratio of 11.71, a P/E/G ratio of 1.58 and a beta of 0.73. Mplx Lp has a 12 month low of $39.95 and a 12 month high of $54.87. The firm has a 50 day moving average of $50.98 and a two-hundred day moving average of $51.35.

Mplx (NYSE:MPLX) last posted its earnings results on Tuesday, May 6th. The pipeline company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.07 by $0.03. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $3.15 billion. Mplx had a net margin of 36.34% and a return on equity of 32.08%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 earnings per share. As a group, equities analysts anticipate that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were paid a $0.9565 dividend. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.54%. The ex-dividend date of this dividend was Friday, May 9th. Mplx’s payout ratio is 88.22%.

Analyst Ratings Changes

MPLX has been the topic of a number of recent analyst reports. Royal Bank Of Canada boosted their price target on shares of Mplx from $55.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, March 17th. Barclays raised their price target on shares of Mplx from $52.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.63.

Mplx 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.