Prospera Financial Services Inc Purchases 1,634 Shares of Mplx Lp $MPLX

Prospera Financial Services Inc raised its holdings in shares of Mplx Lp (NYSE:MPLX) by 5.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,572 shares of the pipeline company’s stock after purchasing an additional 1,634 shares during the quarter. Prospera Financial Services Inc’s holdings in Mplx were worth $1,626,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of MPLX. Private Wealth Asset Management LLC bought a new stake in shares of Mplx in the second quarter valued at approximately $26,000. EQ Wealth Advisors LLC bought a new stake in Mplx during the 2nd quarter valued at $31,000. Blue Trust Inc. lifted its position in shares of Mplx by 509.0% during the second quarter. Blue Trust Inc. now owns 609 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 509 shares in the last quarter. Trust Co. of Toledo NA OH purchased a new stake in shares of Mplx during the second quarter worth $39,000. Finally, Wealth Preservation Advisors LLC bought a new position in shares of Mplx in the first quarter worth $44,000. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Mplx Price Performance

Shares of Mplx stock opened at $52.02 on Wednesday. The firm has a market capitalization of $53.01 billion, a PE ratio of 11.02, a price-to-earnings-growth ratio of 1.54 and a beta of 0.71. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 1.66. Mplx Lp has a 12 month low of $44.60 and a 12 month high of $54.87. The business’s 50-day moving average price is $50.27 and its 200-day moving average price is $50.70.

Mplx (NYSE:MPLX) last issued its earnings results on Tuesday, November 4th. The pipeline company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $3.16 billion. Sell-side analysts forecast that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, November 7th will be issued a dividend of $1.0765 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $4.31 annualized dividend and a dividend yield of 8.3%. This is an increase from Mplx’s previous quarterly dividend of $0.96. Mplx’s payout ratio is 91.31%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MPLX shares. Wells Fargo & Company decreased their price objective on Mplx from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 23rd. Stifel Nicolaus boosted their price objective on shares of Mplx from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, August 14th. Weiss Ratings cut shares of Mplx from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, October 8th. Morgan Stanley boosted their price target on shares of Mplx from $57.00 to $60.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 26th. Finally, Zacks Research raised shares of Mplx from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $57.50.

About Mplx

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.