Mplx Lp $MPLX Shares Sold by Spire Wealth Management

Spire Wealth Management lowered its position in Mplx Lp (NYSE:MPLX) by 16.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 7,451 shares of the pipeline company’s stock after selling 1,501 shares during the quarter. Spire Wealth Management’s holdings in Mplx were worth $384,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Mplx in the second quarter valued at approximately $776,894,000. Goldman Sachs Group Inc. increased its stake in shares of Mplx by 0.6% in the first quarter. Goldman Sachs Group Inc. now owns 13,649,224 shares of the pipeline company’s stock valued at $730,506,000 after purchasing an additional 83,392 shares during the period. Kayne Anderson Capital Advisors LP increased its stake in shares of Mplx by 38.2% in the first quarter. Kayne Anderson Capital Advisors LP now owns 7,788,063 shares of the pipeline company’s stock valued at $416,817,000 after purchasing an additional 2,153,490 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Mplx by 0.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,955,456 shares of the pipeline company’s stock valued at $372,256,000 after purchasing an additional 50,979 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Mplx by 14.9% in the first quarter. JPMorgan Chase & Co. now owns 5,045,968 shares of the pipeline company’s stock valued at $270,060,000 after purchasing an additional 654,489 shares during the period. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Trading Up 0.4%

Mplx stock opened at $50.79 on Monday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.97 and a current ratio of 1.03. The firm has a market cap of $51.76 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 1.56 and a beta of 0.71. Mplx Lp has a 1 year low of $44.07 and a 1 year high of $54.87. The firm’s 50 day moving average price is $50.16 and its two-hundred day moving average price is $50.68.

Mplx (NYSE:MPLX) last posted its quarterly 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 business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $3.13 billion. Mplx had a return on equity of 30.95% and a net margin of 35.44%.The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.15 EPS. On average, research analysts predict that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Increases Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on MPLX shares. Barclays raised their price target on shares of Mplx from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Wall Street Zen lowered shares of Mplx from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Weiss Ratings lowered shares of Mplx from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, October 8th. Zacks Research lowered shares of Mplx from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus raised their price objective on shares of Mplx from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, August 14th. Eight investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $57.50.

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.