Axxcess Wealth Management LLC Sells 253 Shares of Mplx Lp (NYSE:MPLX)

Axxcess Wealth Management LLC reduced its holdings in Mplx Lp (NYSE:MPLX) by 2.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,257 shares of the pipeline company’s stock after selling 253 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Mplx were worth $456,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Sei Investments Co. raised its position in Mplx by 47.4% in the 1st quarter. Sei Investments Co. now owns 51,740 shares of the pipeline company’s stock worth $2,150,000 after purchasing an additional 16,637 shares during the last quarter. US Bancorp DE boosted its holdings in Mplx by 4.6% in the first quarter. US Bancorp DE now owns 52,318 shares of the pipeline company’s stock valued at $2,174,000 after acquiring an additional 2,300 shares during the last quarter. HBK Sorce Advisory LLC acquired a new stake in Mplx in the first quarter worth about $275,000. Searle & CO. bought a new stake in Mplx during the 1st quarter worth about $224,000. Finally, Prevail Innovative Wealth Advisors LLC lifted its position in Mplx by 2.2% during the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 96,473 shares of the pipeline company’s stock valued at $4,009,000 after purchasing an additional 2,096 shares during the period. 24.25% of the stock is currently owned by institutional investors.

Mplx Stock Down 0.8 %

Shares of MPLX opened at $45.63 on Thursday. The stock has a fifty day moving average of $44.29 and a 200-day moving average of $42.63. Mplx Lp has a 52 week low of $35.19 and a 52 week high of $47.62. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. The stock has a market capitalization of $46.57 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 1.25 and a beta of 1.37.

Mplx (NYSE:MPLX) last announced its earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.09 billion. Mplx had a return on equity of 32.70% and a net margin of 36.77%. Mplx’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.89 EPS. As a group, sell-side analysts anticipate that Mplx Lp will post 4.31 earnings per share for the current fiscal year.

Mplx Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.9565 per share. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from Mplx’s previous quarterly dividend of $0.85. This represents a $3.83 annualized dividend and a yield of 8.38%. Mplx’s dividend payout ratio (DPR) is 90.33%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MPLX. StockNews.com lowered shares of Mplx from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 6th. UBS Group upped their price objective on Mplx from $49.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Wells Fargo & Company raised their target price on Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Bank of America started coverage on Mplx in a research note on Thursday, October 17th. They issued an “underperform” rating and a $43.00 price target for the company. Finally, Barclays boosted their price objective on shares of Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.00.

About Mplx

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, 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 renewables; and sale of residue gas and condensate.