Pinnacle Holdings LLC Has $4.31 Million Stock Holdings in Mplx Lp (NYSE:MPLX)

Pinnacle Holdings LLC reduced its position in Mplx Lp (NYSE:MPLX) by 0.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,530 shares of the pipeline company’s stock after selling 332 shares during the quarter. Mplx makes up about 1.6% of Pinnacle Holdings LLC’s investment portfolio, making the stock its 9th biggest holding. Pinnacle Holdings LLC’s holdings in Mplx were worth $4,310,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rossby Financial LCC bought a new position in shares of Mplx during the first quarter valued at approximately $33,000. JFS Wealth Advisors LLC bought a new position in shares of Mplx during the first quarter valued at approximately $37,000. MorganRosel Wealth Management LLC bought a new position in shares of Mplx during the first quarter valued at approximately $48,000. PSI Advisors LLC grew its holdings in shares of Mplx by 32.5% during the first quarter. PSI Advisors LLC now owns 1,100 shares of the pipeline company’s stock valued at $59,000 after purchasing an additional 270 shares during the last quarter. Finally, Private Trust Co. NA bought a new position in shares of Mplx during the first quarter valued at approximately $65,000. 24.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on MPLX shares. Wall Street Zen lowered Mplx from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Stifel Nicolaus boosted their price objective on Mplx from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Barclays boosted their price objective on Mplx from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.11.

Mplx Stock Performance

Shares of NYSE MPLX opened at $50.02 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.97 and a debt-to-equity ratio of 1.40. The stock has a 50 day simple moving average of $51.08 and a 200-day simple moving average of $51.54. The company has a market cap of $51.06 billion, a PE ratio of 11.88, a P/E/G ratio of 1.32 and a beta of 0.73. Mplx Lp has a 12-month low of $41.80 and a 12-month high of $54.87.

Mplx (NYSE:MPLX) last released its earnings results on Tuesday, August 5th. The pipeline company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.05). The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $3.13 billion. Mplx had a return on equity of 30.95% and a net margin of 35.44%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the company earned $1.15 earnings per share. On average, equities research analysts forecast that Mplx Lp will post 4.41 EPS for the current year.

Mplx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 8th were given a $0.9565 dividend. This represents a $3.83 dividend on an annualized basis and a yield of 7.6%. The ex-dividend date was Friday, August 8th. Mplx’s dividend payout ratio is 90.97%.

About Mplx

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Crude Oil and Products Logistics and Natural Gas and NGL Services segments. The Crude Oil and Products Logistics segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.