Mplx Lp (NYSE:MPLX) Position Trimmed by Apollon Wealth Management LLC

Apollon Wealth Management LLC decreased its position in Mplx Lp (NYSE:MPLX) by 0.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 31,026 shares of the pipeline company’s stock after selling 246 shares during the period. Apollon Wealth Management LLC’s holdings in Mplx were worth $1,379,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MPLX. Sei Investments Co. lifted its position in Mplx by 47.4% in the 1st quarter. Sei Investments Co. now owns 51,740 shares of the pipeline company’s stock worth $2,150,000 after buying an additional 16,637 shares in the last quarter. US Bancorp DE lifted its position in Mplx by 4.6% in the 1st quarter. US Bancorp DE now owns 52,318 shares of the pipeline company’s stock worth $2,174,000 after buying an additional 2,300 shares in the last quarter. HBK Sorce Advisory LLC bought a new position in shares of Mplx during the 1st quarter valued at $275,000. Prevail Innovative Wealth Advisors LLC raised its holdings in shares of Mplx by 2.2% during the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 96,473 shares of the pipeline company’s stock valued at $4,009,000 after purchasing an additional 2,096 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Mplx by 79.7% during the 1st quarter. Acadian Asset Management LLC now owns 252,194 shares of the pipeline company’s stock valued at $10,477,000 after purchasing an additional 111,826 shares in the last quarter. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Stock Performance

NYSE:MPLX opened at $46.41 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $47.37 billion, a PE ratio of 10.95, a PEG ratio of 1.25 and a beta of 1.37. The firm’s fifty day simple moving average is $44.36 and its 200 day simple moving average is $42.65. Mplx Lp has a 1 year low of $35.31 and a 1 year high of $47.62.

Mplx (NYSE:MPLX) last posted its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share (EPS) 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 business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same period last year, the company earned $0.89 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, sell-side analysts anticipate that Mplx Lp will post 4.31 EPS for the current year.

Mplx Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be given a $0.9565 dividend. This represents a $3.83 annualized dividend and a yield of 8.24%. The ex-dividend date is Friday, November 8th. This is a positive change from Mplx’s previous quarterly dividend of $0.85. Mplx’s dividend payout ratio is 90.33%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MPLX shares. Wells Fargo & Company raised their price target on shares of Mplx from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. StockNews.com upgraded shares of Mplx from a “buy” rating to a “strong-buy” rating in a report on Thursday. Bank of America started coverage on shares of Mplx in a report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price target on the stock. UBS Group raised their price target on shares of Mplx from $49.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Royal Bank of Canada raised their target price on shares of Mplx from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Mplx 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.