Creekmur Asset Management LLC Raises Stock Position in Mplx Lp $MPLX

Creekmur Asset Management LLC increased its stake in Mplx Lp (NYSE:MPLX) by 43.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,545 shares of the pipeline company’s stock after acquiring an additional 5,943 shares during the quarter. Creekmur Asset Management LLC’s holdings in Mplx were worth $1,007,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Mplx during the second quarter worth $776,894,000. Goldman Sachs Group Inc. grew its holdings in shares of Mplx by 0.6% during the first quarter. Goldman Sachs Group Inc. now owns 13,649,224 shares of the pipeline company’s stock worth $730,506,000 after buying an additional 83,392 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its holdings in shares of Mplx by 38.2% during the first quarter. Kayne Anderson Capital Advisors LP now owns 7,788,063 shares of the pipeline company’s stock worth $416,817,000 after buying an additional 2,153,490 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Mplx by 0.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,955,456 shares of the pipeline company’s stock worth $372,256,000 after buying an additional 50,979 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Mplx by 14.9% during the first quarter. JPMorgan Chase & Co. now owns 5,045,968 shares of the pipeline company’s stock worth $270,060,000 after buying an additional 654,489 shares in the last quarter. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Mplx Trading Up 0.5%

Shares of MPLX stock opened at $50.54 on Friday. The company’s 50-day moving average price is $50.16 and its 200-day moving average price is $50.66. 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 market cap of $51.50 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 1.54 and a beta of 0.68. Mplx Lp has a twelve month low of $44.07 and a twelve month high of $54.87.

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

Mplx Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, November 7th will be given a $1.0765 dividend. The ex-dividend date of this dividend is Friday, November 7th. This is an increase from Mplx’s previous quarterly dividend of $0.96. This represents a $4.31 dividend on an annualized basis and a yield of 8.5%. Mplx’s dividend payout ratio is currently 90.97%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MPLX. Wall Street Zen lowered shares of Mplx from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Wells Fargo & Company dropped their target price on shares of Mplx from $60.00 to $59.00 and set an “overweight” rating for the company in a report on Tuesday, September 23rd. Barclays upped their target price on shares of Mplx from $52.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Zacks Research lowered shares of Mplx from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 8th. Finally, Stifel Nicolaus boosted their price target on shares of Mplx from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 14th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $57.50.

Mplx Profile

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.