Stablepoint Partners LLC Sells 407 Shares of Mplx Lp (NYSE:MPLX)

Stablepoint Partners LLC lowered its stake in Mplx Lp (NYSE:MPLX) by 5.7% during the 1st quarter, Holdings Channel reports. The firm owned 6,796 shares of the pipeline company’s stock after selling 407 shares during the quarter. Stablepoint Partners LLC’s holdings in Mplx were worth $364,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MPLX. VSM Wealth Advisory LLC bought a new stake in shares of Mplx in the fourth quarter worth about $31,000. Generali Asset Management SPA SGR purchased a new position in Mplx during the 4th quarter valued at approximately $56,000. Russell Investments Group Ltd. increased its stake in Mplx by 139.6% in the 4th quarter. Russell Investments Group Ltd. now owns 1,785 shares of the pipeline company’s stock worth $85,000 after acquiring an additional 1,040 shares during the last quarter. RE Dickinson Investment Advisors LLC raised its holdings in shares of Mplx by 11.5% during the 4th quarter. RE Dickinson Investment Advisors LLC now owns 2,017 shares of the pipeline company’s stock worth $96,000 after acquiring an additional 208 shares in the last quarter. Finally, Crewe Advisors LLC bought a new position in shares of Mplx during the 4th quarter valued at approximately $98,000. Institutional investors own 24.25% of the company’s stock.

Mplx Trading Up 0.1%

MPLX stock opened at $51.34 on Friday. Mplx Lp has a twelve month low of $39.95 and a twelve month high of $54.87. The stock has a market capitalization of $52.41 billion, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 1.69 and a beta of 0.74. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40. The firm’s fifty day simple moving average is $50.42 and its two-hundred day simple moving average is $50.88.

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

Mplx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were paid a dividend of $0.9565 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.45%. Mplx’s dividend payout ratio is 88.22%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MPLX. Barclays reduced their price target on shares of Mplx from $55.00 to $52.00 and set an “overweight” rating on the stock in a research report on Monday, May 12th. Morgan Stanley boosted their target price on shares of Mplx from $56.00 to $62.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 11th. Wall Street Zen cut shares of Mplx from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 2nd. Finally, Royal Bank of Canada lifted their price target on Mplx from $55.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, March 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.50.

About Mplx

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.