Wedbush Securities Inc. Has $965,000 Position in Mplx Lp $MPLX

Wedbush Securities Inc. raised its position in Mplx Lp (NYSE:MPLX) by 141.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 19,324 shares of the pipeline company’s stock after buying an additional 11,319 shares during the period. Wedbush Securities Inc.’s holdings in Mplx were worth $965,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Elevation Point Wealth Partners LLC bought a new position in Mplx in the 2nd quarter valued at approximately $26,000. FSC Wealth Advisors LLC bought a new stake in Mplx during the 2nd quarter worth approximately $29,000. Operose Advisors LLC increased its position in Mplx by 216.2% in the 2nd quarter. Operose Advisors LLC now owns 585 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 400 shares during the period. Blue Trust Inc. raised its stake in shares of Mplx by 509.0% during the second quarter. Blue Trust Inc. now owns 609 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 509 shares during the last quarter. Finally, Caldwell Trust Co bought a new position in shares of Mplx during the second quarter valued at $33,000. 24.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MPLX. Barclays increased their price objective on Mplx from $53.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Royal Bank Of Canada upped their price target on Mplx from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, November 21st. Morgan Stanley increased their price target on Mplx from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 25th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Mplx in a research note on Monday, December 29th. Finally, Citigroup upped their target price on Mplx from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $58.29.

Mplx Stock Performance

Shares of Mplx stock opened at $56.81 on Friday. The business has a 50-day moving average price of $54.74 and a two-hundred day moving average price of $52.35. Mplx Lp has a 1-year low of $44.60 and a 1-year high of $57.15. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 1.66. The company has a market cap of $57.78 billion, a P/E ratio of 11.79, a PEG ratio of 5.10 and a beta of 0.57.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, February 3rd. The pipeline company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.07. Mplx had a return on equity of 34.56% and a net margin of 37.79%.The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same period in the previous year, the business earned $1.07 EPS. The firm’s revenue was up 6.2% compared to the same quarter last year. As a group, analysts anticipate that Mplx Lp will post 4.41 EPS for the current year.

Mplx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th will be issued a dividend of $1.0765 per share. This represents a $4.31 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date is Monday, February 9th. Mplx’s dividend payout ratio is presently 89.42%.

Mplx Profile

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.