Axxcess Wealth Management LLC Lowers Stock Holdings in Mplx Lp (NYSE:MPLX)

Axxcess Wealth Management LLC cut its holdings in shares of Mplx Lp (NYSE:MPLX) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,257 shares of the pipeline company’s stock after selling 253 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Mplx were worth $456,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Crewe Advisors LLC purchased a new stake in Mplx during the 1st quarter worth $41,000. CWM LLC grew its stake in shares of 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 buying an additional 451 shares in the last quarter. Summit Securities Group LLC raised its holdings in shares of Mplx by 450.0% during the 2nd quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company’s stock valued at $47,000 after buying an additional 900 shares during the period. Redwood Wealth Management Group LLC acquired a new position in Mplx during the 2nd quarter worth approximately $67,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Mplx during the second quarter valued at approximately $88,000. 24.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MPLX. Wells Fargo & Company increased their price target on shares of Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. StockNews.com lowered Mplx from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 6th. UBS Group lifted their price objective on shares of Mplx from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Bank of America initiated coverage on shares of Mplx in a report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price target for the company. Finally, Barclays increased their price objective on shares of Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

Mplx Price Performance

Shares of MPLX opened at $45.63 on Thursday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. The firm has a market cap of $46.57 billion, a PE ratio of 10.81, a PEG ratio of 1.25 and a beta of 1.37. The firm’s 50 day moving average price is $44.29 and its 200 day moving average price is $42.63. Mplx Lp has a twelve month low of $35.19 and a twelve month high of $47.62.

Mplx (NYSE:MPLX) last posted its earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.04). Mplx had a return on equity of 32.70% and a net margin of 36.77%. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter last year, the firm posted $0.89 earnings per share. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, research analysts expect that Mplx Lp will post 4.31 EPS 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 issued a dividend of $0.9565 per share. This is an increase from Mplx’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.83 annualized dividend and a dividend yield of 8.38%. Mplx’s payout ratio is presently 90.33%.

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.