AdvisorNet Financial Inc Decreases Holdings in Mplx Lp (NYSE:MPLX)

AdvisorNet Financial Inc cut its stake in shares of Mplx Lp (NYSE:MPLXGet Rating) by 13.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,548 shares of the pipeline company’s stock after selling 399 shares during the period. AdvisorNet Financial Inc’s holdings in Mplx were worth $74,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Griffin Asset Management Inc. raised its stake in Mplx by 2.2% during the 1st quarter. Griffin Asset Management Inc. now owns 17,913 shares of the pipeline company’s stock valued at $594,000 after buying an additional 390 shares during the last quarter. HighTower Trust Services LTA grew its position in shares of Mplx by 0.9% during the 1st quarter. HighTower Trust Services LTA now owns 44,299 shares of the pipeline company’s stock valued at $1,470,000 after acquiring an additional 401 shares during the period. Monetary Management Group Inc. grew its position in shares of Mplx by 4.0% during the 1st quarter. Monetary Management Group Inc. now owns 11,335 shares of the pipeline company’s stock valued at $376,000 after acquiring an additional 441 shares during the period. Pinnacle Holdings LLC grew its position in shares of Mplx by 0.6% during the 1st quarter. Pinnacle Holdings LLC now owns 80,003 shares of the pipeline company’s stock valued at $2,655,000 after acquiring an additional 461 shares during the period. Finally, Avidian Wealth Solutions LLC grew its position in shares of Mplx by 6.4% during the 1st quarter. Avidian Wealth Solutions LLC now owns 8,034 shares of the pipeline company’s stock valued at $267,000 after acquiring an additional 484 shares during the period. 23.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MPLX shares. UBS Group cut their price objective on shares of Mplx from $41.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, July 8th. US Capital Advisors downgraded shares of Mplx from an “overweight” rating to a “hold” rating in a research report on Tuesday, July 26th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Mplx currently has an average rating of “Moderate Buy” and a consensus price target of $38.14.

Mplx Trading Down 2.0 %

Shares of Mplx stock opened at $31.12 on Friday. The company has a market capitalization of $31.50 billion, a P/E ratio of 9.94 and a beta of 1.52. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.68 and a current ratio of 0.74. The company has a fifty day moving average of $32.10 and a 200 day moving average of $31.95. Mplx Lp has a fifty-two week low of $27.47 and a fifty-two week high of $35.49.

Mplx (NYSE:MPLXGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The pipeline company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.81 by $0.02. Mplx had a net margin of 30.73% and a return on equity of 28.66%. The business had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.59 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. The business’s revenue was up 22.8% on a year-over-year basis. On average, sell-side analysts anticipate that Mplx Lp will post 3.28 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Friday, August 5th were issued a dividend of $0.705 per share. This represents a $2.82 annualized dividend and a dividend yield of 9.06%. The ex-dividend date was Thursday, August 4th. Mplx’s dividend payout ratio (DPR) is presently 90.10%.

Mplx 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.

Further Reading

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Institutional Ownership by Quarter for Mplx (NYSE:MPLX)

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