Mplx (NYSE:MPLX) Sees Large Volume Increase

Mplx Lp (NYSE:MPLXGet Rating) shares saw strong trading volume on Friday . 136,046 shares traded hands during trading, a decline of 89% from the previous session’s volume of 1,201,933 shares.The stock last traded at $29.00 and had previously closed at $31.12.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MPLX. US Capital Advisors downgraded shares of Mplx from an “overweight” rating to a “hold” rating in a research note on Tuesday, July 26th. UBS Group lowered their price target on Mplx from $41.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, July 8th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.14.

Mplx Trading Down 5.5 %

The company has a current ratio of 0.74, a quick ratio of 0.68 and a debt-to-equity ratio of 1.63. The firm has a market cap of $29.77 billion, a price-to-earnings ratio of 9.31 and a beta of 1.52. The company has a fifty day moving average price of $32.10 and a 200-day moving average price of $31.95.

Mplx (NYSE:MPLXGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The pipeline company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. The company had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.59 billion. Mplx had a return on equity of 28.66% and a net margin of 30.73%. Mplx’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 earnings per share. As a group, research analysts expect that Mplx Lp will post 3.28 EPS for the current year.

Mplx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, August 5th were given a dividend of $0.705 per share. The ex-dividend date of this dividend was Thursday, August 4th. This represents a $2.82 annualized dividend and a yield of 9.59%. Mplx’s dividend payout ratio is presently 90.10%.

Hedge Funds Weigh In On Mplx

Several institutional investors and hedge funds have recently modified their holdings of MPLX. Inscription Capital LLC purchased a new position in Mplx during the second quarter valued at $432,000. B. Riley Wealth Management Inc. increased its stake in shares of Mplx by 310.1% during the second quarter. B. Riley Wealth Management Inc. now owns 96,358 shares of the pipeline company’s stock worth $2,809,000 after purchasing an additional 72,864 shares in the last quarter. Amundi raised its position in shares of Mplx by 14.0% during the 2nd quarter. Amundi now owns 2,509,607 shares of the pipeline company’s stock worth $73,255,000 after purchasing an additional 307,598 shares during the last quarter. Verition Fund Management LLC purchased a new position in Mplx in the 2nd quarter valued at about $388,000. Finally, Captrust Financial Advisors boosted its holdings in Mplx by 14.3% in the 2nd quarter. Captrust Financial Advisors now owns 34,801 shares of the pipeline company’s stock worth $1,014,000 after buying an additional 4,360 shares during the last quarter. Hedge funds and other institutional investors own 23.62% of the company’s stock.

Mplx Company Profile

(Get Rating)

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, exchange, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products; and sale of residue gas and condensate.

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