Daymark Wealth Partners LLC Takes Position in Mplx Lp (NYSE:MPLX)

Daymark Wealth Partners LLC purchased a new position in Mplx Lp (NYSE:MPLX) during the second quarter, Holdings Channel reports. The fund purchased 30,759 shares of the pipeline company’s stock, valued at approximately $1,310,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Quent Capital LLC purchased a new stake in shares of Mplx during the first quarter worth about $35,000. Crewe Advisors LLC bought a new position in Mplx during the 1st quarter valued at approximately $41,000. Pacifica Partners Inc. purchased a new stake in Mplx in the 1st quarter worth approximately $41,000. Register Financial Advisors LLC bought a new stake in shares of Mplx in the 1st quarter worth approximately $42,000. Finally, CWM LLC increased its stake in shares of Mplx by 73.3% during the second quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock valued at $45,000 after buying an additional 451 shares during the period. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on MPLX. Barclays dropped their price target on Mplx from $46.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Wells Fargo & Company raised their target price on shares of Mplx from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $47.00 target price on shares of Mplx in a research note on Wednesday, August 28th. UBS Group increased their price target on shares of Mplx from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, StockNews.com cut Mplx from a “strong-buy” rating to a “buy” rating in a research note on Monday. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $46.56.

Mplx Price Performance

Shares of NYSE:MPLX opened at $44.42 on Friday. The business has a fifty day moving average price of $42.72 and a 200-day moving average price of $41.77. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.99 and a quick ratio of 0.95. The company has a market capitalization of $45.14 billion, a PE ratio of 11.48, a PEG ratio of 1.24 and a beta of 1.37. Mplx Lp has a 1-year low of $34.52 and a 1-year high of $45.24.

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

Mplx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 9th were issued a $0.85 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.40 dividend on an annualized basis and a yield of 7.65%. Mplx’s payout ratio is currently 87.63%.

Mplx Profile

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.