Holderness Investments Co. Invests $343,000 in Mplx Lp (NYSE:MPLX)

Holderness Investments Co. acquired a new stake in Mplx Lp (NYSE:MPLX) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,065 shares of the pipeline company’s stock, valued at approximately $343,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Quent Capital LLC purchased a new position in shares of Mplx during the 1st quarter worth approximately $35,000. Crewe Advisors LLC acquired a new position in Mplx during the first quarter worth $41,000. Pacifica Partners Inc. acquired a new position in Mplx during the first quarter worth $41,000. Register Financial Advisors LLC purchased a new position in Mplx in the first quarter worth $42,000. Finally, CWM LLC lifted its holdings in Mplx by 73.3% in the second quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock valued at $45,000 after acquiring an additional 451 shares during the period. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Stock Up 0.2 %

MPLX stock opened at $44.20 on Monday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.99 and a quick ratio of 0.95. Mplx Lp has a 12 month low of $34.52 and a 12 month high of $44.59. The firm has a market capitalization of $44.92 billion, a PE ratio of 11.39, a P/E/G ratio of 1.19 and a beta of 1.37. The company’s 50 day simple moving average is $42.57 and its 200-day simple moving average is $41.69.

Mplx (NYSE:MPLX) last posted its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.17. The firm had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Mplx had a return on equity of 32.68% and a net margin of 35.95%. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 EPS. Equities analysts expect that Mplx Lp will post 4.24 earnings per share for the current fiscal year.

Mplx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 9th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 7.69%. The ex-dividend date was Friday, August 9th. Mplx’s payout ratio is 87.63%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MPLX shares. Wells Fargo & Company upped their price target on shares of Mplx from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Barclays lowered their target price on shares of Mplx from $46.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. StockNews.com upgraded shares of Mplx from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 11th. UBS Group boosted their price target on Mplx from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 price objective on shares of Mplx in a research note on Wednesday, August 28th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $46.56.

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.