ELCO Management Co. LLC Acquires 1,321 Shares of Mplx Lp $MPLX

ELCO Management Co. LLC raised its holdings in Mplx Lp (NYSE:MPLX) by 1.5% during the second quarter, HoldingsChannel reports. The firm owned 88,139 shares of the pipeline company’s stock after acquiring an additional 1,321 shares during the quarter. Mplx accounts for 2.4% of ELCO Management Co. LLC’s holdings, making the stock its 10th largest position. ELCO Management Co. LLC’s holdings in Mplx were worth $4,540,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of MPLX. Private Wealth Asset Management LLC acquired a new stake in shares of Mplx in the 2nd quarter valued at $26,000. EQ Wealth Advisors LLC acquired a new stake in shares of Mplx in the 2nd quarter valued at $31,000. Blue Trust Inc. boosted its holdings in shares of Mplx by 509.0% in the 2nd quarter. Blue Trust Inc. now owns 609 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 509 shares in the last quarter. Rossby Financial LCC acquired a new stake in shares of Mplx in the 1st quarter valued at $33,000. Finally, Trust Co. of Toledo NA OH acquired a new stake in shares of Mplx in the 2nd quarter valued at $39,000. Institutional investors and hedge funds own 24.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Weiss Ratings cut Mplx from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, October 8th. Wells Fargo & Company dropped their price target on Mplx from $60.00 to $59.00 and set an “overweight” rating for the company in a research note on Tuesday, September 23rd. Wall Street Zen cut Mplx from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Barclays increased their price target on Mplx from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Finally, Stifel Nicolaus increased their price target on Mplx from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, August 14th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.50.

Mplx Stock Down 0.1%

Shares of NYSE:MPLX opened at $50.75 on Wednesday. The firm has a market cap of $51.71 billion, a P/E ratio of 12.05, a P/E/G ratio of 1.55 and a beta of 0.68. The company has a quick ratio of 0.97, a current ratio of 1.03 and a debt-to-equity ratio of 1.40. Mplx Lp has a 12-month low of $43.62 and a 12-month high of $54.87. The business has a fifty day simple moving average of $50.16 and a 200 day simple moving average of $50.65.

Mplx (NYSE:MPLX) last announced its earnings results on Tuesday, August 5th. The pipeline company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.05). The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $3.13 billion. Mplx had a return on equity of 30.95% and a net margin of 35.44%.The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.15 earnings per share. Analysts predict that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, November 7th will be given a dividend of $1.0765 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $4.31 annualized dividend and a yield of 8.5%. This is an increase from Mplx’s previous quarterly dividend of $0.96. Mplx’s dividend payout ratio is 90.97%.

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.