Pathway Financial Advisers LLC Buys 3,294 Shares of Mplx Lp (NYSE:MPLX)

Pathway Financial Advisers LLC boosted its stake in shares of Mplx Lp (NYSE:MPLX) by 14.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,052 shares of the pipeline company’s stock after purchasing an additional 3,294 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Mplx were worth $1,158,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Quent Capital LLC bought a new position in Mplx in the first quarter worth $35,000. Crewe Advisors LLC acquired a new stake in shares of Mplx in the first quarter valued at $41,000. CWM LLC increased its stake in shares of Mplx by 73.3% in the second quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock valued at $45,000 after buying an additional 451 shares in the last quarter. Summit Securities Group LLC increased its stake in shares of Mplx by 450.0% in the second quarter. Summit Securities Group LLC now owns 1,100 shares of the pipeline company’s stock valued at $47,000 after buying an additional 900 shares in the last quarter. Finally, Redwood Wealth Management Group LLC acquired a new stake in shares of Mplx in the second quarter valued at $67,000. Institutional investors own 24.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MPLX. Royal Bank of Canada raised their target price on Mplx from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Bank of America initiated coverage on Mplx in a research report on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price objective for the company. UBS Group lifted their price objective on Mplx from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. StockNews.com upgraded Mplx from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 10th. Finally, Barclays lifted their price objective on Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.67.

Mplx Trading Down 0.8 %

NYSE:MPLX opened at $44.37 on Thursday. Mplx Lp has a fifty-two week low of $35.06 and a fifty-two week high of $45.24. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.99 and a quick ratio of 0.95. The stock has a market capitalization of $45.09 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 1.21 and a beta of 1.37. The business’s 50-day simple moving average is $43.76 and its 200-day simple moving average is $42.32.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.17. Mplx had a return on equity of 32.68% and a net margin of 35.95%. The business had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the previous year, the business posted $0.91 EPS. Mplx’s revenue for the quarter was up 13.5% on a year-over-year basis. Sell-side analysts expect that Mplx Lp will post 4.3 earnings per share for the current fiscal year.

Mplx Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.9565 per share. This represents a $3.83 annualized dividend and a dividend yield of 8.62%. The ex-dividend date is Friday, November 8th. This is a boost from Mplx’s previous quarterly dividend of $0.85. Mplx’s payout ratio is 87.63%.

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.