2,300 Shares in Mplx Lp $MPLX Purchased by Cedar Wealth Management LLC

Cedar Wealth Management LLC purchased a new stake in shares of Mplx Lp (NYSE:MPLX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,300 shares of the pipeline company’s stock, valued at approximately $118,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Obermeyer Wealth Partners raised its holdings in Mplx by 18.4% in the 1st quarter. Obermeyer Wealth Partners now owns 35,181 shares of the pipeline company’s stock worth $1,883,000 after purchasing an additional 5,476 shares in the last quarter. Hilltop National Bank purchased a new position in shares of Mplx during the second quarter valued at about $330,000. Walnut Private Equity Partners LLC increased its position in shares of Mplx by 14.8% during the second quarter. Walnut Private Equity Partners LLC now owns 242,300 shares of the pipeline company’s stock valued at $12,481,000 after buying an additional 31,300 shares during the period. Jump Financial LLC raised its stake in Mplx by 349.2% in the first quarter. Jump Financial LLC now owns 118,600 shares of the pipeline company’s stock worth $6,347,000 after buying an additional 92,196 shares in the last quarter. Finally, Keudell Morrison Wealth Management purchased a new stake in Mplx in the second quarter worth about $335,000. Institutional investors own 24.25% of the company’s stock.

Mplx Stock Performance

Mplx stock opened at $53.12 on Friday. Mplx Lp has a twelve month low of $44.60 and a twelve month high of $54.87. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 1.66. The company has a market capitalization of $54.03 billion, a P/E ratio of 11.25, a PEG ratio of 1.55 and a beta of 0.71. The stock’s 50 day moving average is $50.37 and its 200 day moving average is $50.72.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, November 4th. The pipeline company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.45. Mplx had a return on equity of 34.14% and a net margin of 37.61%.The business had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $3.16 billion. On average, equities research analysts predict that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, November 7th were paid a $1.0765 dividend. This represents a $4.31 dividend on an annualized basis and a yield of 8.1%. The ex-dividend date was Friday, November 7th. This is a positive change from Mplx’s previous quarterly dividend of $0.96. Mplx’s dividend payout ratio (DPR) is presently 91.31%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Weiss Ratings downgraded Mplx from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, October 8th. Stifel Nicolaus lifted their price target on Mplx from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 14th. Wall Street Zen cut Mplx from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Morgan Stanley increased their price objective on Mplx from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 26th. Finally, Zacks Research raised Mplx from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.86.

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.