Wealth Enhancement Advisory Services LLC Increases Stake in Mplx Lp (NYSE:MPLX)

Wealth Enhancement Advisory Services LLC boosted its position in Mplx Lp (NYSE:MPLX) by 4.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 85,389 shares of the pipeline company’s stock after acquiring an additional 3,505 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Mplx were worth $3,796,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Mcdonald Partners LLC raised its position in shares of Mplx by 1.4% in the second quarter. Mcdonald Partners LLC now owns 17,180 shares of the pipeline company’s stock valued at $732,000 after purchasing an additional 239 shares during the period. Cherry Creek Investment Advisors Inc. raised its holdings in Mplx by 2.0% during the 3rd quarter. Cherry Creek Investment Advisors Inc. now owns 14,204 shares of the pipeline company’s stock valued at $632,000 after acquiring an additional 279 shares during the period. Sound Income Strategies LLC lifted its position in shares of Mplx by 10.4% during the second quarter. Sound Income Strategies LLC now owns 2,992 shares of the pipeline company’s stock worth $127,000 after acquiring an additional 282 shares in the last quarter. Belfer Management LLC boosted its holdings in shares of Mplx by 4.4% in the first quarter. Belfer Management LLC now owns 7,733 shares of the pipeline company’s stock worth $321,000 after acquiring an additional 325 shares during the period. Finally, Prossimo Advisors LLC grew its position in shares of Mplx by 6.3% in the second quarter. Prossimo Advisors LLC now owns 6,509 shares of the pipeline company’s stock valued at $277,000 after purchasing an additional 386 shares in the last quarter. 24.25% of the stock is owned by hedge funds and other institutional investors.

Mplx Stock Performance

NYSE:MPLX opened at $44.42 on Friday. Mplx Lp has a 1-year low of $35.06 and a 1-year high of $45.24. 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 business has a 50 day moving average of $43.80 and a 200 day moving average of $42.34. The company has a market capitalization of $45.33 billion, a price-to-earnings ratio of 10.78, a PEG ratio of 1.21 and a beta of 1.37.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.17. The company had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Mplx had a net margin of 35.95% and a return on equity of 32.68%. The firm’s revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. On average, sell-side analysts predict that Mplx Lp will post 4.3 earnings per share for the current fiscal year.

Mplx Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.9565 per share. This is a boost from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 dividend on an annualized basis and a dividend yield of 8.61%. The ex-dividend date of this dividend is Friday, November 8th. Mplx’s dividend payout ratio (DPR) is 82.52%.

Analysts Set New Price Targets

A number of research analysts have weighed in on MPLX shares. Wells Fargo & Company lifted their target price on Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Bank of America started coverage on shares of Mplx in a research note on Thursday, October 17th. They set an “underperform” rating and a $43.00 price objective for the company. StockNews.com upgraded shares of Mplx from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 10th. UBS Group boosted their price target on shares of Mplx from $49.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Royal Bank of Canada increased their price objective on Mplx from $47.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.67.

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.