1,146 Shares in Mplx Lp (NYSE:MPLX) Acquired by Cedar Wealth Management LLC

Cedar Wealth Management LLC acquired a new stake in Mplx Lp (NYSE:MPLX) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,146 shares of the pipeline company’s stock, valued at approximately $51,000.

Several other institutional investors have also added to or reduced their stakes in MPLX. Crewe Advisors LLC purchased a new position in shares of Mplx in the first quarter worth $41,000. CWM LLC increased its holdings in Mplx by 73.3% in the 2nd quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock worth $45,000 after buying an additional 451 shares in the last quarter. Summit Securities Group LLC raised its position in Mplx by 450.0% in the 2nd quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company’s stock worth $47,000 after buying an additional 900 shares during the last quarter. Redwood Wealth Management Group LLC bought a new position in Mplx during the 2nd quarter valued at about $67,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Mplx during the 2nd quarter valued at about $88,000. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MPLX has been the subject of several research reports. Bank of America assumed coverage on shares of Mplx in a report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price objective for the company. Royal Bank of Canada boosted their target price on shares of Mplx from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday. Truist Financial raised their price target on Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday. StockNews.com upgraded Mplx from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 14th. Finally, Wells Fargo & Company raised their target price on Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.44.

Mplx Stock Up 0.4 %

NYSE MPLX opened at $47.66 on Wednesday. The stock’s 50-day moving average price is $44.71 and its 200-day moving average price is $42.82. The company has a market capitalization of $48.56 billion, a P/E ratio of 11.24, a price-to-earnings-growth ratio of 1.28 and a beta of 1.37. Mplx Lp has a 52 week low of $35.51 and a 52 week high of $47.71. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.09 billion. Mplx had a return on equity of 32.70% and a net margin of 36.77%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the company earned $0.89 EPS. On average, equities research analysts predict that Mplx Lp will post 4.31 earnings per share for the current year.

Mplx Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a dividend of $0.9565 per share. This represents a $3.83 annualized dividend and a dividend yield of 8.03%. This is a boost from Mplx’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, November 8th. Mplx’s dividend payout ratio is 90.33%.

Mplx Company Profile

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.