Magnus Financial Group LLC Acquires 215 Shares of Mplx Lp $MPLX

Magnus Financial Group LLC raised its holdings in shares of Mplx Lp (NYSE:MPLX) by 4.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,602 shares of the pipeline company’s stock after purchasing an additional 215 shares during the period. Magnus Financial Group LLC’s holdings in Mplx were worth $237,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MPLX. Northside Capital Management LLC bought a new position in Mplx during the 2nd quarter valued at approximately $30,497,000. Fifth Third Bancorp increased its position in Mplx by 7.7% during the 2nd quarter. Fifth Third Bancorp now owns 3,165 shares of the pipeline company’s stock valued at $163,000 after buying an additional 227 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new position in shares of Mplx during the second quarter valued at $1,894,000. Farther Finance Advisors LLC increased its holdings in shares of Mplx by 8.1% during the second quarter. Farther Finance Advisors LLC now owns 6,715 shares of the pipeline company’s stock valued at $346,000 after acquiring an additional 504 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new position in shares of Mplx during the second quarter valued at $776,894,000. Institutional investors own 24.25% of the company’s stock.

Mplx Stock Performance

Shares of MPLX stock opened at $51.27 on Friday. The company has a 50 day moving average price of $50.75 and a 200-day moving average price of $51.02. Mplx Lp has a 52 week low of $43.53 and a 52 week high of $54.87. The firm has a market capitalization of $52.25 billion, a PE ratio of 12.18, a P/E/G ratio of 1.39 and a beta of 0.74. The company has a quick ratio of 0.97, a current ratio of 1.03 and a debt-to-equity ratio of 1.40.

Mplx (NYSE:MPLX) last announced its quarterly earnings results on Tuesday, August 5th. The pipeline company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.05). Mplx had a return on equity of 30.95% and a net margin of 35.44%.The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the firm earned $1.15 earnings per share. The business’s revenue was down 1.6% compared to the same quarter last year. As a group, equities research analysts expect that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were issued a $0.9565 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $3.83 annualized dividend and a dividend yield of 7.5%. Mplx’s payout ratio is presently 90.74%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Morgan Stanley raised their price objective on shares of Mplx from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 26th. Barclays raised their price objective on shares of Mplx from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Wall Street Zen downgraded shares of Mplx from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Wells Fargo & Company reduced their price target on shares of Mplx from $60.00 to $59.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Stifel Nicolaus raised their price target on shares of Mplx from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 14th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Mplx has a consensus rating of “Moderate Buy” and an average target price of $55.89.

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.