Mplx Lp $MPLX Stake Lessened by Samalin Investment Counsel LLC

Samalin Investment Counsel LLC cut its position in shares of Mplx Lp (NYSE:MPLX) by 3.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 52,213 shares of the pipeline company’s stock after selling 1,626 shares during the quarter. Mplx accounts for 1.0% of Samalin Investment Counsel LLC’s portfolio, making the stock its 16th largest position. Samalin Investment Counsel LLC’s holdings in Mplx were worth $2,690,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MPLX. Obermeyer Wealth Partners increased its stake in Mplx by 18.4% in the 1st quarter. Obermeyer Wealth Partners now owns 35,181 shares of the pipeline company’s stock worth $1,883,000 after purchasing an additional 5,476 shares in the last quarter. Hilltop National Bank acquired a new position in shares of Mplx in the second quarter worth about $330,000. Walnut Private Equity Partners LLC increased its position in shares of Mplx by 14.8% in the second quarter. Walnut Private Equity Partners LLC now owns 242,300 shares of the pipeline company’s stock worth $12,481,000 after acquiring an additional 31,300 shares in the last quarter. Jump Financial LLC increased its position in shares of Mplx by 349.2% in the first quarter. Jump Financial LLC now owns 118,600 shares of the pipeline company’s stock worth $6,347,000 after acquiring an additional 92,196 shares in the last quarter. Finally, Keudell Morrison Wealth Management acquired a new stake in shares of Mplx during the second quarter valued at approximately $335,000. 24.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MPLX has been the topic of several research analyst reports. Zacks Research upgraded shares of Mplx from a “strong sell” rating to a “hold” rating in a research report on Thursday. Stifel Nicolaus lifted their price target on Mplx from $57.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 14th. Wells Fargo & Company dropped their price target on Mplx from $60.00 to $59.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 23rd. Morgan Stanley raised their price objective on Mplx from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 26th. Finally, Weiss Ratings downgraded Mplx from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $57.50.

Mplx Stock Performance

Shares of MPLX stock opened at $51.21 on Monday. Mplx Lp has a fifty-two week low of $44.60 and a fifty-two week high of $54.87. The stock’s 50-day moving average is $50.24 and its two-hundred day moving average is $50.71. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.31 and a quick ratio of 1.26. The firm has a market cap of $52.19 billion, a P/E ratio of 10.85, a PEG ratio of 1.54 and a beta of 0.71.

Mplx (NYSE:MPLX) last announced its quarterly earnings results on Tuesday, November 4th. The pipeline company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.07 by $0.45. Mplx had a return on equity of 34.14% and a net margin of 37.61%.The business had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Analysts predict that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Increases Dividend

The firm 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. This is a positive change from Mplx’s previous quarterly dividend of $0.96. This represents a $4.31 annualized dividend and a yield of 8.4%. The ex-dividend date of this dividend is Friday, November 7th. Mplx’s payout ratio is presently 91.31%.

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.