Avidian Wealth Enterprises LLC Grows Position in Mplx Lp (NYSE:MPLX)

Avidian Wealth Enterprises LLC raised its stake in Mplx Lp (NYSE:MPLX) by 34.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,155 shares of the pipeline company’s stock after acquiring an additional 3,130 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Mplx were worth $540,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Crewe Advisors LLC bought a new position in Mplx during the first quarter valued at approximately $41,000. CWM LLC boosted its position in shares of Mplx by 73.3% during the 2nd 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 last quarter. Summit Securities Group LLC grew its holdings in shares of Mplx by 450.0% in the second quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company’s stock valued at $47,000 after purchasing an additional 900 shares in the last quarter. Redwood Wealth Management Group LLC bought a new stake in Mplx in the second quarter worth $67,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Mplx during the second quarter valued at $88,000. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Mplx Price Performance

MPLX opened at $46.98 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.41. The business’s fifty day simple moving average is $44.01 and its 200-day simple moving average is $42.49. The company has a market capitalization of $47.95 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 1.21 and a beta of 1.37. Mplx Lp has a 12-month low of $35.07 and a 12-month high of $47.62.

Mplx (NYSE:MPLX) last posted its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.04). Mplx had a net margin of 35.95% and a return on equity of 32.68%. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the firm posted $0.89 EPS. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities research analysts anticipate that Mplx Lp will post 4.3 earnings per share for the current fiscal year.

Mplx Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be issued a $0.9565 dividend. The ex-dividend date is Friday, November 8th. This is an increase from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 dividend on an annualized basis and a dividend yield of 8.14%. Mplx’s dividend payout ratio (DPR) is currently 82.52%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Royal Bank of Canada boosted their target price on shares of Mplx from $47.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. StockNews.com cut Mplx from a “strong-buy” rating to a “buy” rating in a report on Wednesday. UBS Group increased their price target on Mplx from $49.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Wells Fargo & Company raised their price target on Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Bank of America assumed coverage on shares of Mplx in a research note on Thursday, October 17th. They issued an “underperform” rating and a $43.00 target price on the stock. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $48.00.

Mplx Company 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.