Cvfg LLC Makes New $1.18 Million Investment in Mplx Lp $MPLX

Cvfg LLC bought a new stake in Mplx Lp (NYSE:MPLX) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,700 shares of the pipeline company’s stock, valued at approximately $1,181,000.

A number of other hedge funds have also made changes to their positions in MPLX. EQ Wealth Advisors LLC acquired a new position in shares of Mplx during the 4th quarter worth $32,000. Wiser Advisor Group LLC purchased a new stake in shares of Mplx in the third quarter valued at about $38,000. Prosperity Bancshares Inc acquired a new stake in shares of Mplx in the fourth quarter valued at approximately $43,000. Groesbeck Investment Management Corp NJ purchased a new position in shares of Mplx during the 4th quarter worth approximately $49,000. Finally, WFA of San Diego LLC purchased a new position in shares of Mplx during the 2nd quarter worth approximately $52,000. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Zacks Research upgraded Mplx from a “strong sell” rating to a “hold” rating in a report on Friday, June 5th. Truist Financial decreased their price objective on Mplx from $67.00 to $66.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Wells Fargo & Company dropped their price objective on Mplx from $63.00 to $61.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Wall Street Zen downgraded shares of Mplx from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $60.00 target price on shares of Mplx in a report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Mplx currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.60.

Mplx Trading Down 0.2%

Shares of MPLX stock opened at $57.41 on Thursday. The firm’s 50-day simple moving average is $56.01 and its 200-day simple moving average is $56.11. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.10 and a quick ratio of 1.05. Mplx Lp has a 1-year low of $47.80 and a 1-year high of $59.98. The firm has a market cap of $58.26 billion, a P/E ratio of 12.43, a PEG ratio of 5.52 and a beta of 0.47.

Mplx (NYSE:MPLX) last released its earnings results on Tuesday, May 5th. The pipeline company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.15). Mplx had a net margin of 36.38% and a return on equity of 32.74%. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the previous year, the firm posted $1.10 earnings per share. Mplx’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, equities analysts forecast that Mplx Lp will post 4.22 EPS for the current year.

Mplx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were issued 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 7.5%. Mplx’s dividend payout ratio (DPR) is presently 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.