Royal Harbor Partners LLC Sells 804 Shares of Mplx Lp (NYSE:MPLX)

Royal Harbor Partners LLC reduced its position in shares of Mplx Lp (NYSE:MPLX) by 13.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,195 shares of the pipeline company’s stock after selling 804 shares during the period. Royal Harbor Partners LLC’s holdings in Mplx were worth $278,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Silver Oak Securities Incorporated grew its holdings in shares of Mplx by 9.8% during the first quarter. Silver Oak Securities Incorporated now owns 8,555 shares of the pipeline company’s stock worth $462,000 after purchasing an additional 764 shares in the last quarter. Aviance Capital Partners LLC lifted its holdings in shares of Mplx by 18.2% during the 1st quarter. Aviance Capital Partners LLC now owns 12,974 shares of the pipeline company’s stock worth $694,000 after acquiring an additional 2,000 shares during the last quarter. Private Trust Co. NA bought a new stake in shares of Mplx during the 1st quarter worth $65,000. Rossby Financial LCC purchased a new position in Mplx in the first quarter worth $33,000. Finally, Summit Trail Advisors LLC bought a new position in Mplx in the first quarter valued at $209,000. Institutional investors own 24.25% of the company’s stock.

Mplx Stock Down 0.3%

Shares of Mplx stock opened at $50.91 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. Mplx Lp has a twelve month low of $39.95 and a twelve month high of $54.87. The company has a market cap of $51.97 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 1.58 and a beta of 0.73. The company’s 50 day moving average is $51.11 and its 200 day moving average is $51.16.

Mplx (NYSE:MPLX) last released its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.03. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $3.15 billion. Mplx had a return on equity of 32.08% and a net margin of 36.34%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the business posted $0.98 EPS. Research analysts anticipate that Mplx Lp will post 4.41 EPS for the current year.

Mplx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were given a dividend of $0.9565 per share. This represents a $3.83 annualized dividend and a dividend yield of 7.52%. The ex-dividend date of this dividend was Friday, May 9th. Mplx’s payout ratio is currently 88.22%.

Analysts Set New Price Targets

MPLX has been the subject of several research analyst reports. Morgan Stanley lifted their price target on Mplx from $56.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 11th. Royal Bank Of Canada upped their price target on shares of Mplx from $55.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, March 17th. Finally, Barclays reduced their price objective on Mplx from $55.00 to $52.00 and set an “overweight” rating on the stock in a research note on Monday, May 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.50.

Mplx Company 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.