Princeton Global Asset Management LLC Buys 651 Shares of Mplx Lp (NYSE:MPLX)

Princeton Global Asset Management LLC increased its stake in Mplx Lp (NYSE:MPLX) by 5.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,898 shares of the pipeline company’s stock after buying an additional 651 shares during the period. Princeton Global Asset Management LLC’s holdings in Mplx were worth $637,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MPLX. VSM Wealth Advisory LLC bought a new stake in Mplx during the 4th quarter valued at $31,000. Generali Asset Management SPA SGR purchased a new position in shares of Mplx during the fourth quarter valued at $56,000. Russell Investments Group Ltd. raised its holdings in shares of Mplx by 139.6% in the fourth quarter. Russell Investments Group Ltd. now owns 1,785 shares of the pipeline company’s stock valued at $85,000 after acquiring an additional 1,040 shares in the last quarter. RE Dickinson Investment Advisors LLC raised its holdings in shares of Mplx by 11.5% in the fourth quarter. RE Dickinson Investment Advisors LLC now owns 2,017 shares of the pipeline company’s stock valued at $96,000 after acquiring an additional 208 shares in the last quarter. Finally, Crewe Advisors LLC purchased a new stake in Mplx in the fourth quarter worth about $98,000. Institutional investors own 24.25% of the company’s stock.

Mplx Trading Up 0.1%

NYSE:MPLX opened at $51.34 on Friday. The stock has a market capitalization of $52.41 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 1.69 and a beta of 0.74. Mplx Lp has a 52 week low of $39.95 and a 52 week high of $54.87. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40. The firm has a 50 day moving average of $50.42 and a 200 day moving average of $50.88.

Mplx (NYSE:MPLX) last issued its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.07 by $0.03. Mplx had a return on equity of 31.94% and a net margin of 36.18%. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the prior year, the business posted $0.98 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 9th were issued a $0.9565 dividend. This represents a $3.83 annualized dividend and a yield of 7.45%. The ex-dividend date was Friday, May 9th. Mplx’s dividend payout ratio is presently 88.22%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Morgan Stanley raised their target price on shares of Mplx from $56.00 to $62.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 11th. Wall Street Zen lowered shares of Mplx from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 2nd. Barclays lowered their target price on Mplx from $55.00 to $52.00 and set an “overweight” rating for the company in a report on Monday, May 12th. Finally, Royal Bank of Canada increased their target price on Mplx from $55.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Mplx presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.50.

Mplx Profile

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.