Gilman Hill Asset Management LLC Invests $1.29 Million in Mplx Lp (NYSE:MPLX)

Gilman Hill Asset Management LLC acquired a new stake in Mplx Lp (NYSE:MPLX) during the 3rd quarter, Holdings Channel reports. The fund acquired 29,035 shares of the pipeline company’s stock, valued at approximately $1,291,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MPLX. Mcdonald Partners LLC lifted its stake in shares of Mplx by 1.4% in the 2nd quarter. Mcdonald Partners LLC now owns 17,180 shares of the pipeline company’s stock valued at $732,000 after acquiring an additional 239 shares during the last quarter. Sound Income Strategies LLC raised its position in Mplx by 10.4% in the second quarter. Sound Income Strategies LLC now owns 2,992 shares of the pipeline company’s stock valued at $127,000 after purchasing an additional 282 shares during the last quarter. Belfer Management LLC boosted its stake in shares of Mplx by 4.4% during the first quarter. Belfer Management LLC now owns 7,733 shares of the pipeline company’s stock valued at $321,000 after purchasing an additional 325 shares in the last quarter. Prossimo Advisors LLC grew its holdings in shares of Mplx by 6.3% during the second quarter. Prossimo Advisors LLC now owns 6,509 shares of the pipeline company’s stock worth $277,000 after purchasing an additional 386 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in shares of Mplx by 5.9% in the second quarter. Brown Brothers Harriman & Co. now owns 7,505 shares of the pipeline company’s stock valued at $320,000 after buying an additional 415 shares during the period. Institutional investors own 24.25% of the company’s stock.

Mplx Trading Up 0.8 %

Shares of Mplx stock traded up $0.35 on Friday, hitting $44.32. 799,320 shares of the company’s stock traded hands, compared to its average volume of 1,850,078. The company has a fifty day moving average of $43.09 and a two-hundred day moving average of $42.09. Mplx Lp has a one year low of $35.06 and a one year high of $45.24. The company has a market capitalization of $45.04 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 1.22 and a beta of 1.37. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.99 and a quick ratio of 0.95.

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

Mplx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 9th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 7.67%. The ex-dividend date of this dividend was Friday, August 9th. Mplx’s dividend payout ratio (DPR) is currently 87.63%.

Wall Street Analyst Weigh In

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

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.