Axxcess Wealth Management LLC Grows Stock Position in Mplx Lp (NYSE:MPLX)

Axxcess Wealth Management LLC raised its holdings in Mplx Lp (NYSE:MPLX) by 43.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 10,510 shares of the pipeline company’s stock after acquiring an additional 3,204 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Mplx were worth $448,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sei Investments Co. raised its stake in Mplx by 47.4% in the first quarter. Sei Investments Co. now owns 51,740 shares of the pipeline company’s stock valued at $2,150,000 after buying an additional 16,637 shares during the last quarter. Allianz Asset Management GmbH raised its stake in Mplx by 170.6% in the fourth quarter. Allianz Asset Management GmbH now owns 637,100 shares of the pipeline company’s stock valued at $23,394,000 after buying an additional 401,700 shares during the last quarter. Pingora Partners LLC acquired a new position in shares of Mplx in the fourth quarter valued at about $1,253,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Mplx by 22.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 81,884 shares of the pipeline company’s stock valued at $3,487,000 after purchasing an additional 14,782 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in shares of Mplx in the first quarter valued at about $799,000. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MPLX has been the topic of a number of research reports. StockNews.com raised Mplx from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 11th. UBS Group increased their price objective on Mplx from $49.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company increased their price objective on Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 price objective on shares of Mplx in a report on Wednesday, August 28th. Finally, Barclays cut their price objective on Mplx from $46.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $46.56.

Mplx Stock Up 0.2 %

Mplx stock opened at $44.20 on Friday. The firm has a market cap of $44.92 billion, a price-to-earnings ratio of 11.39, a price-to-earnings-growth ratio of 1.19 and a beta of 1.37. Mplx Lp has a 52 week low of $34.52 and a 52 week high of $44.59. The business’s 50-day moving average price is $42.57 and its 200 day moving average price is $41.67. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.41.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.17. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.96 billion. Mplx had a return on equity of 32.68% and a net margin of 35.95%. Mplx’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.91 earnings per share. As a group, sell-side analysts anticipate that Mplx Lp will post 4.24 earnings per share for the current year.

Mplx Dividend Announcement

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

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.