29,035 Shares in Mplx Lp (NYSE:MPLX) Bought by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC purchased a new stake in Mplx Lp (NYSE:MPLX) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 29,035 shares of the pipeline company’s stock, valued at approximately $1,291,000.

Several other institutional investors also recently modified their holdings of MPLX. Exchange Traded Concepts LLC lifted its stake in Mplx by 7.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 450,487 shares of the pipeline company’s stock valued at $20,029,000 after purchasing an additional 30,290 shares during the last quarter. Inspire Investing LLC acquired a new stake in shares of Mplx in the third quarter valued at approximately $921,000. Chickasaw Capital Management LLC boosted its stake in shares of Mplx by 0.6% during the 3rd quarter. Chickasaw Capital Management LLC now owns 5,580,052 shares of the pipeline company’s stock worth $248,089,000 after acquiring an additional 34,659 shares during the period. Valeo Financial Advisors LLC acquired a new position in shares of Mplx during the 3rd quarter worth approximately $217,000. Finally, Daymark Wealth Partners LLC raised its stake in Mplx by 13.5% in the 3rd quarter. Daymark Wealth Partners LLC now owns 34,908 shares of the pipeline company’s stock valued at $1,552,000 after acquiring an additional 4,149 shares during the period. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Mplx Price Performance

Shares of MPLX stock traded up $0.35 during trading on Friday, hitting $44.32. The company had a trading volume of 799,320 shares, compared to its average volume of 1,850,078. The firm has a market capitalization of $45.04 billion, a P/E ratio of 11.42, a price-to-earnings-growth ratio of 1.22 and a beta of 1.37. Mplx Lp has a one year low of $35.06 and a one year high of $45.24. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.95 and a current ratio of 0.99. The stock’s 50-day moving average price is $43.09 and its 200 day moving average price is $42.09.

Mplx (NYSE:MPLX) last released its earnings results on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.17. The firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $2.96 billion. Mplx had a return on equity of 32.68% and a net margin of 35.95%. The company’s revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.91 EPS. Equities analysts expect that Mplx Lp will post 4.24 EPS for the current fiscal year.

Mplx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 9th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 7.67%. The ex-dividend date was Friday, August 9th. Mplx’s payout ratio is presently 87.63%.

Analyst Upgrades and Downgrades

A number of research firms have commented on MPLX. Barclays lifted their price objective on shares of Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 price target on shares of Mplx in a research note on Wednesday, August 28th. StockNews.com upgraded shares of Mplx from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Wells Fargo & Company upped their target price on Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Finally, UBS Group lifted their price target on Mplx from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $47.88.

Mplx Profile

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.