Custom Index Systems LLC Sells 4,708 Shares of Mplx Lp (NYSE:MPLX)

Custom Index Systems LLC cut its stake in shares of Mplx Lp (NYSE:MPLX) by 12.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,077 shares of the pipeline company’s stock after selling 4,708 shares during the quarter. Custom Index Systems LLC’s holdings in Mplx were worth $1,451,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Quent Capital LLC bought a new stake in shares of Mplx during the first quarter valued at approximately $35,000. Pacifica Partners Inc. bought a new stake in Mplx during the 1st quarter valued at $41,000. Crewe Advisors LLC acquired a new position in Mplx during the first quarter worth $41,000. Register Financial Advisors LLC acquired a new position in Mplx during the first quarter worth $42,000. Finally, CWM LLC lifted its stake in shares of Mplx by 73.3% in the second quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock valued at $45,000 after buying an additional 451 shares in the last quarter. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Mplx Trading Down 0.8 %

Shares of MPLX opened at $42.62 on Friday. Mplx Lp has a fifty-two week low of $34.52 and a fifty-two week high of $43.42. The business has a 50-day moving average of $42.34 and a 200 day moving average of $41.39. The firm has a market cap of $43.31 billion, a P/E ratio of 10.98, a price-to-earnings-growth ratio of 1.19 and a beta of 1.37. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.95 and a current ratio of 0.99.

Mplx (NYSE:MPLX) last posted its earnings results on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share for the quarter, topping the consensus estimate 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 net margin of 35.95% and a return on equity of 32.68%. The company’s revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the company earned $0.91 earnings per share. As a group, research analysts forecast that Mplx Lp will post 4.24 EPS for the current year.

Mplx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 9th were paid a $0.85 dividend. The ex-dividend date was Friday, August 9th. This represents a $3.40 annualized dividend and a yield of 7.98%. Mplx’s dividend payout ratio is currently 87.63%.

Analyst Upgrades and Downgrades

MPLX has been the topic of a number of analyst reports. Wells Fargo & Company upped their target price on shares of Mplx from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Barclays increased their price objective on Mplx from $43.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, July 12th. StockNews.com upgraded Mplx from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $47.00 price target on shares of Mplx in a report on Wednesday, August 28th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $46.33.

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.