Adell Harriman & Carpenter Inc. Purchases 5,825 Shares of Mplx Lp $MPLX

Adell Harriman & Carpenter Inc. increased its stake in Mplx Lp (NYSE:MPLX) by 8.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,930 shares of the pipeline company’s stock after buying an additional 5,825 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Mplx were worth $3,757,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Private Wealth Asset Management LLC acquired a new stake in Mplx during the 2nd quarter valued at approximately $26,000. EQ Wealth Advisors LLC acquired a new position in Mplx during the second quarter worth $31,000. Blue Trust Inc. raised its position in Mplx by 509.0% during the second quarter. Blue Trust Inc. now owns 609 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 509 shares during the period. Rossby Financial LCC acquired a new position in Mplx during the first quarter worth $33,000. Finally, Trust Co. of Toledo NA OH purchased a new stake in shares of Mplx during the second quarter worth $39,000. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Zacks Research cut shares of Mplx from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Mplx from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Wells Fargo & Company lowered their price objective on shares of Mplx from $60.00 to $59.00 and set an “overweight” rating for the company in a research note on Tuesday, September 23rd. Morgan Stanley raised their price objective on shares of Mplx from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 26th. Finally, Weiss Ratings downgraded shares of Mplx from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $57.50.

Mplx Price Performance

Shares of NYSE MPLX opened at $50.25 on Thursday. Mplx Lp has a one year low of $44.07 and a one year high of $54.87. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.97 and a current ratio of 1.03. The company’s fifty day moving average is $50.15 and its two-hundred day moving average is $50.66. The firm has a market capitalization of $51.21 billion, a P/E ratio of 11.94, a PEG ratio of 1.55 and a beta of 0.68.

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

Mplx Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, November 7th will be given a dividend of $1.0765 per share. This is a boost from Mplx’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Friday, November 7th. This represents a $4.31 dividend on an annualized basis and a yield of 8.6%. Mplx’s dividend payout ratio is currently 102.14%.

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.