Diversify Wealth Management LLC Invests $574,000 in Mplx Lp $MPLX

Diversify Wealth Management LLC bought a new stake in Mplx Lp (NYSE:MPLX) during the 1st quarter, Holdings Channel reports. The firm bought 10,345 shares of the pipeline company’s stock, valued at approximately $574,000.

Other hedge funds have also modified their holdings of the company. Invesco Ltd. boosted its position in Mplx by 0.7% during the third quarter. Invesco Ltd. now owns 19,561,938 shares of the pipeline company’s stock worth $977,119,000 after acquiring an additional 143,361 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Mplx by 8.3% in the second quarter. Bank of America Corp DE now owns 9,873,619 shares of the pipeline company’s stock valued at $508,590,000 after purchasing an additional 757,569 shares during the period. Morgan Stanley boosted its holdings in Mplx by 23.7% in the fourth quarter. Morgan Stanley now owns 5,763,110 shares of the pipeline company’s stock valued at $307,577,000 after purchasing an additional 1,104,510 shares during the last quarter. Energy Income Partners LLC increased its stake in shares of Mplx by 2.1% in the third quarter. Energy Income Partners LLC now owns 5,659,885 shares of the pipeline company’s stock worth $282,711,000 after buying an additional 118,090 shares during the last quarter. Finally, UBS Group AG increased its holdings in shares of Mplx by 0.7% in the 4th quarter. UBS Group AG now owns 5,304,746 shares of the pipeline company’s stock valued at $283,114,000 after acquiring an additional 38,283 shares during the last quarter. 24.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Zacks Research upgraded shares of Mplx from a “strong sell” rating to a “hold” rating in a report on Friday, June 5th. Wells Fargo & Company cut their target price on shares of Mplx from $63.00 to $61.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Weiss Ratings cut shares of Mplx from a “buy (a)” rating to a “buy (a-)” rating in a research report on Monday, May 18th. Wall Street Zen lowered Mplx from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Truist Financial cut their price objective on shares of Mplx from $67.00 to $66.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Mplx currently has a consensus rating of “Moderate Buy” and an average price target of $61.60.

Mplx Stock Performance

Shares of MPLX stock opened at $57.10 on Friday. The firm has a 50 day moving average of $56.21 and a 200-day moving average of $56.24. Mplx Lp has a 52 week low of $47.80 and a 52 week high of $59.98. The company has a quick ratio of 1.05, a current ratio of 1.10 and a debt-to-equity ratio of 1.71. The company has a market cap of $57.95 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 5.50 and a beta of 0.47.

Mplx (NYSE:MPLX) last issued its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.15). The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $3.09 billion. Mplx had a return on equity of 32.74% and a net margin of 36.38%.The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.10 earnings per share. On average, equities analysts forecast that Mplx Lp will post 4.21 earnings per share for the current year.

Mplx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were issued a $1.0765 dividend. This represents a $4.31 dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date of this dividend was Friday, May 8th. Mplx’s dividend payout ratio is presently 93.29%.

Mplx Company Profile

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.