ELCO Management Co. LLC Trims Stock Holdings in Mplx Lp $MPLX

ELCO Management Co. LLC trimmed its holdings in Mplx Lp (NYSE:MPLX) by 68.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 26,080 shares of the pipeline company’s stock after selling 57,891 shares during the quarter. Mplx accounts for approximately 0.9% of ELCO Management Co. LLC’s investment portfolio, making the stock its 26th biggest holding. ELCO Management Co. LLC’s holdings in Mplx were worth $1,392,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Belfer Management LLC grew its stake in Mplx by 2.4% in the 4th quarter. Belfer Management LLC now owns 7,849 shares of the pipeline company’s stock valued at $419,000 after buying an additional 181 shares in the last quarter. Trueblood Wealth Management LLC grew its stake in Mplx by 1.9% in the 4th quarter. Trueblood Wealth Management LLC now owns 9,736 shares of the pipeline company’s stock valued at $520,000 after buying an additional 186 shares in the last quarter. Wealthstar Advisors LLC grew its stake in Mplx by 1.5% in the 4th quarter. Wealthstar Advisors LLC now owns 12,598 shares of the pipeline company’s stock valued at $672,000 after buying an additional 190 shares in the last quarter. Cobblestone Capital Advisors LLC NY grew its stake in Mplx by 4.0% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 5,198 shares of the pipeline company’s stock valued at $260,000 after buying an additional 198 shares in the last quarter. Finally, Holderness Investments Co. grew its stake in Mplx by 2.6% in the 3rd quarter. Holderness Investments Co. now owns 8,945 shares of the pipeline company’s stock valued at $447,000 after buying an additional 225 shares in the last quarter. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Mplx Stock Up 0.0%

Shares of NYSE:MPLX opened at $54.02 on Tuesday. Mplx Lp has a 52-week low of $47.80 and a 52-week high of $59.98. The firm has a fifty day moving average of $56.85 and a 200 day moving average of $55.16. The firm has a market capitalization of $54.85 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 5.05 and a beta of 0.49. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.05 and a current ratio of 1.10.

Mplx (NYSE:MPLX) last announced its earnings results on Tuesday, May 5th. The pipeline company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.15). Mplx had a return on equity of 32.74% and a net margin of 36.38%.The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter last year, the firm posted $1.10 earnings per share. The firm’s revenue was down 2.8% on a year-over-year basis. As a group, research analysts anticipate that Mplx Lp will post 4.33 EPS for the current fiscal year.

Mplx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 8th will be given a $1.0765 dividend. The ex-dividend date is Friday, May 8th. This represents a $4.31 annualized dividend and a yield of 8.0%. Mplx’s payout ratio is 93.29%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Weiss Ratings reiterated a “buy (a)” rating on shares of Mplx in a research note on Monday, May 4th. Truist Financial reduced their price target 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. UBS Group boosted their price target on shares of Mplx from $64.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, March 16th. Barclays reduced their price target on shares of Mplx from $59.00 to $58.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. Finally, Zacks Research lowered shares of Mplx from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $61.70.

Mplx 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.