Lee Financial Co Reduces Holdings in Mplx Lp $MPLX

by · The Markets Daily

Lee Financial Co lowered its holdings in shares of Mplx Lp (NYSE:MPLX – Free Report) by 55.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,372 shares of the pipeline company’s stock after selling 9,307 shares during the quarter. Lee Financial Co’s holdings in Mplx were worth $393,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of MPLX. Trueblood Wealth Management LLC grew its position in shares of Mplx by 1.9% in the fourth quarter. Trueblood Wealth Management LLC now owns 9,736 shares of the pipeline company’s stock valued at $520,000 after purchasing an additional 186 shares during the last quarter. Cobblestone Capital Advisors LLC NY raised its position in shares of Mplx by 4.0% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 5,198 shares of the pipeline company’s stock worth $260,000 after purchasing an additional 198 shares during the last quarter. Gladstone Institutional Advisory LLC lifted its stake in Mplx by 3.5% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 6,069 shares of the pipeline company’s stock valued at $303,000 after buying an additional 206 shares in the last quarter. Holderness Investments Co. lifted its stake in Mplx by 2.6% in the 3rd quarter. Holderness Investments Co. now owns 8,945 shares of the pipeline company’s stock valued at $447,000 after buying an additional 225 shares in the last quarter. Finally, Visionary Wealth Advisors grew its holdings in Mplx by 4.1% during the 2nd quarter. Visionary Wealth Advisors now owns 5,866 shares of the pipeline company’s stock valued at $302,000 after buying an additional 232 shares during the last quarter. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Mplx Trading Up 0.8%

Shares of Mplx stock opened at $56.31 on Friday. Mplx Lp has a fifty-two week low of $46.29 and a fifty-two week high of $59.98. The business’s fifty day moving average is $57.37 and its two-hundred day moving average is $54.27. The company has a quick ratio of 1.18, a current ratio of 1.23 and a debt-to-equity ratio of 1.66. The firm has a market cap of $57.17 billion, a PE ratio of 11.68, a P/E/G ratio of 5.12 and a beta of 0.56.

Mplx (NYSE:MPLX – Get Free Report) last released its earnings results on Tuesday, February 3rd. The pipeline company reported $1.17 EPS for the quarter, beating the consensus estimate of $1.10 by $0.07. Mplx had a return on equity of 34.37% and a net margin of 37.79%.The firm had revenue of $5.99 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same period in the prior year, the firm posted $1.07 earnings per share. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. Analysts anticipate that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 9th were paid a dividend of $1.0765 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $4.31 dividend on an annualized basis and a dividend yield of 7.6%. Mplx’s dividend payout ratio is currently 89.21%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MPLX shares. Stifel Nicolaus boosted their price target on Mplx from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Mplx in a research report on Monday, December 29th. UBS Group boosted their target price on shares of Mplx from $64.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Citigroup raised their price target on shares of Mplx from $54.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 10th. Finally, Raymond James Financial downgraded shares of Mplx from an “outperform” rating to a “market perform” rating in a report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.44.

Get Our Latest Analysis on MPLX

Mplx Company Profile

(Free Report)

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.

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