Resolute Capital LLC Acquires New Shares in Mplx Lp $MPLX

Resolute Capital LLC acquired a new stake in Mplx Lp (NYSE:MPLX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 24,264 shares of the pipeline company’s stock, valued at approximately $1,295,000. Mplx makes up approximately 0.5% of Resolute Capital LLC’s portfolio, making the stock its 17th biggest position.

Several other institutional investors and hedge funds have also recently made changes to their positions in MPLX. NewEdge Advisors LLC grew its stake in Mplx by 4.1% in the first quarter. NewEdge Advisors LLC now owns 24,049 shares of the pipeline company’s stock valued at $1,287,000 after purchasing an additional 939 shares during the last quarter. Geode Capital Management LLC grew its stake in Mplx by 6.6% in the second quarter. Geode Capital Management LLC now owns 16,557 shares of the pipeline company’s stock valued at $853,000 after purchasing an additional 1,021 shares during the last quarter. Guggenheim Capital LLC grew its stake in Mplx by 5.4% in the second quarter. Guggenheim Capital LLC now owns 19,139 shares of the pipeline company’s stock valued at $986,000 after purchasing an additional 972 shares during the last quarter. Cerity Partners LLC grew its stake in Mplx by 12.5% in the second quarter. Cerity Partners LLC now owns 53,113 shares of the pipeline company’s stock valued at $2,736,000 after purchasing an additional 5,916 shares during the last quarter. Finally, Glenview Trust co grew its stake in Mplx by 62.5% in the second quarter. Glenview Trust co now owns 6,500 shares of the pipeline company’s stock valued at $335,000 after purchasing an additional 2,500 shares during the last quarter. 24.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Morgan Stanley cut their target price on Mplx from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 20th. The Goldman Sachs Group lifted their target price on Mplx from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, April 20th. JPMorgan Chase & Co. lifted their target price on Mplx from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, March 10th. Wells Fargo & Company cut their target price on Mplx from $63.00 to $61.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Finally, Weiss Ratings lowered Mplx from a “buy (a)” rating to a “buy (a-)” rating in a research note on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Mplx has an average rating of “Moderate Buy” and an average target price of $61.60.

Mplx Stock Up 0.4%

MPLX stock opened at $54.85 on Monday. The firm has a 50 day moving average of $56.01 and a 200 day moving average of $55.61. The stock has a market capitalization of $55.66 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 5.22 and a beta of 0.48. The company has a quick ratio of 1.05, a current ratio of 1.10 and a debt-to-equity ratio of 1.71. Mplx Lp has a 52 week low of $47.80 and a 52 week high of $59.98.

Mplx (NYSE:MPLX) last released its earnings results on Tuesday, May 5th. The pipeline company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.15). The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $3.09 billion. Mplx had a return on equity of 32.74% and a net margin of 36.38%.The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the business earned $1.10 earnings per share. Sell-side analysts forecast that Mplx Lp will post 4.24 earnings per share for the current year.

Mplx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were paid a $1.0765 dividend. The ex-dividend date was Friday, May 8th. This represents a $4.31 dividend on an annualized basis and a yield of 7.9%. Mplx’s dividend payout ratio (DPR) is 93.29%.

Mplx Company Profile

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.