Heritage Wealth Advisors bought a new stake in shares of Mplx Lp (NYSE:MPLX) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 47,529 shares of the pipeline company’s stock, valued at approximately $1,714,000. Mplx Lp makes up approximately 0.9% of Heritage Wealth Advisors’ holdings, making the stock its 24th largest position.
Other institutional investors have also recently added to or reduced their stakes in the company. Tarbox Group Inc. increased its position in Mplx Lp by 41.8% in the first quarter. Tarbox Group Inc. now owns 3,575 shares of the pipeline company’s stock valued at $129,000 after buying an additional 1,053 shares in the last quarter. Hirtle Callaghan & Co LLC purchased a new position in Mplx Lp during the first quarter valued at $139,000. Private Advisor Group LLC purchased a new position in Mplx Lp during the first quarter valued at $201,000. Ameritas Investment Partners Inc. purchased a new position in Mplx Lp during the first quarter valued at $198,000. Finally, Pinnacle Associates Ltd. purchased a new position in Mplx Lp during the fourth quarter valued at $202,000. 67.94% of the stock is owned by institutional investors.
Shares of Mplx Lp (NYSE:MPLX) traded down 0.94% during trading on Thursday, hitting $34.80. The stock had a trading volume of 1,103,559 shares. Mplx Lp has a one year low of $30.09 and a one year high of $39.43. The stock’s 50-day moving average price is $35.73 and its 200-day moving average price is $35.42. The company has a market cap of $13.04 billion, a P/E ratio of 71.75 and a beta of 1.37.
Mplx Lp (NYSE:MPLX) last announced its earnings results on Thursday, April 27th. The pipeline company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. The business had revenue of $886 million for the quarter, compared to the consensus estimate of $691.38 million. Mplx Lp had a return on equity of 3.24% and a net margin of 7.22%. The company’s revenue was up 37.4% on a year-over-year basis. During the same period last year, the business posted ($0.33) EPS. On average, equities research analysts forecast that Mplx Lp will post $0.94 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Monday, May 8th were issued a dividend of $0.54 per share. This is an increase from Mplx Lp’s previous quarterly dividend of $0.52. This represents a $2.16 annualized dividend and a dividend yield of 6.21%. The ex-dividend date was Thursday, May 4th. Mplx Lp’s dividend payout ratio (DPR) is presently -3,466.09%.
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Several research firms have weighed in on MPLX. Zacks Investment Research downgraded Mplx Lp from a “hold” rating to a “sell” rating in a research report on Friday, May 12th. Barclays PLC boosted their price objective on Mplx Lp from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, February 2nd. FBR & Co reissued a “hold” rating on shares of Mplx Lp in a research report on Thursday, March 2nd. Mitsubishi UFJ Financial Group raised Mplx Lp from a “neutral” rating to an “overweight” rating and set a $43.00 price objective for the company in a research report on Wednesday, March 1st. Finally, TheStreet raised Mplx Lp from a “c” rating to a “b-” rating in a research report on Friday, April 28th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $42.10.
In related news, VP Randy S. Nickerson sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $36.20, for a total transaction of $543,000.00. Following the sale, the vice president now directly owns 177,552 shares in the company, valued at approximately $6,427,382.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
About Mplx Lp
MPLX LP is a master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets. The Company is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids (NGLs), and the gathering, transportation and storage of crude oil and refined petroleum products.
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