Brookstone Capital Management Has $668,000 Stake in Mplx Lp (NYSE:MPLX)

Brookstone Capital Management raised its position in Mplx Lp (NYSE:MPLX) by 16.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 16,069 shares of the pipeline company’s stock after purchasing an additional 2,325 shares during the period. Brookstone Capital Management’s holdings in Mplx were worth $668,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Alps Advisors Inc. lifted its position in shares of Mplx by 18.9% during the 3rd quarter. Alps Advisors Inc. now owns 28,771,793 shares of the pipeline company’s stock valued at $1,023,413,000 after acquiring an additional 4,579,152 shares during the period. Nomura Holdings Inc. acquired a new position in shares of Mplx during the 4th quarter valued at $67,253,000. Citigroup Inc. lifted its position in shares of Mplx by 60.6% during the 3rd quarter. Citigroup Inc. now owns 2,028,514 shares of the pipeline company’s stock valued at $72,154,000 after acquiring an additional 765,618 shares during the period. CIBC Private Wealth Group LLC lifted its position in shares of Mplx by 23.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,028,327 shares of the pipeline company’s stock valued at $111,200,000 after acquiring an additional 574,737 shares during the period. Finally, ING Groep NV lifted its position in shares of Mplx by 21.2% during the 4th quarter. ING Groep NV now owns 2,740,500 shares of the pipeline company’s stock valued at $100,631,000 after acquiring an additional 480,000 shares during the period. Institutional investors and hedge funds own 24.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on MPLX. UBS Group boosted their target price on shares of Mplx from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. upped their price objective on shares of Mplx from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Barclays upped their price objective on shares of Mplx from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Stifel Nicolaus upped their price objective on shares of Mplx from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, StockNews.com downgraded shares of Mplx from a “strong-buy” rating to a “buy” rating in a report on Monday, June 24th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Mplx has a consensus rating of “Moderate Buy” and a consensus target price of $45.11.

Mplx Stock Performance

NYSE MPLX opened at $42.59 on Monday. Mplx Lp has a 1 year low of $33.78 and a 1 year high of $42.90. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.72 and a quick ratio of 0.67. The firm has a market cap of $43.28 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 2.13 and a beta of 1.35. The company has a fifty day moving average price of $41.16 and a 200-day moving average price of $39.66.

Mplx (NYSE:MPLX) last posted its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.01). The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.89 billion. Mplx had a net margin of 34.96% and a return on equity of 31.70%. Mplx’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 EPS. As a group, equities research analysts predict that Mplx Lp will post 4.01 EPS for the current fiscal year.

Mplx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Friday, May 3rd were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $3.40 annualized dividend and a yield of 7.98%. Mplx’s payout ratio is currently 87.63%.

About Mplx

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.