Bessemer Group Inc. Buys 200 Shares of Mplx Lp $MPLX

Bessemer Group Inc. boosted its position in shares of Mplx Lp (NYSE:MPLX) by 0.8% in the second quarter, Holdings Channel.com reports. The firm owned 25,081 shares of the pipeline company’s stock after acquiring an additional 200 shares during the period. Bessemer Group Inc.’s holdings in Mplx were worth $1,291,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of MPLX. Summit Trail Advisors LLC acquired a new position in shares of Mplx during the first quarter worth about $209,000. Rossby Financial LCC acquired a new stake in Mplx in the 1st quarter valued at approximately $33,000. Private Trust Co. NA bought a new stake in Mplx in the 1st quarter valued at approximately $65,000. Aviance Capital Partners LLC boosted its position in 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. Finally, Silver Oak Securities Incorporated boosted its position in Mplx by 9.8% during the 1st quarter. Silver Oak Securities Incorporated now owns 8,555 shares of the pipeline company’s stock worth $462,000 after acquiring an additional 764 shares during the last quarter. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Stock Performance

Shares of MPLX stock opened at $50.79 on Friday. The company has a fifty day moving average price of $50.16 and a two-hundred day moving average price of $50.67. Mplx Lp has a one year low of $44.07 and a one year high of $54.87. The stock has a market cap of $51.76 billion, a P/E ratio of 12.06, a P/E/G ratio of 1.55 and a beta of 0.68. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.03 and a quick ratio of 0.97.

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

Mplx Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, November 7th will be paid a $1.0765 dividend. This is a positive change from Mplx’s previous quarterly dividend of $0.96. This represents a $4.31 annualized dividend and a yield of 8.5%. The ex-dividend date is Friday, November 7th. Mplx’s dividend payout ratio is currently 90.97%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Mplx from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Tuesday, August 26th. Zacks Research lowered shares of Mplx from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Mplx from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Stifel Nicolaus increased their price objective on shares of Mplx from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 14th. Finally, Wells Fargo & Company decreased their price objective on Mplx from $60.00 to $59.00 and set an “overweight” rating for the company in a report on Tuesday, September 23rd. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $57.50.

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.