21,769 Mplx Lp $MPLX Shares Bought by International Assets Investment Management LLC

Key Points

• International Assets Investment Management increased its MPLX stake by 264.5% in the third quarter, adding 21,769 shares to reach 30,000 shares worth about $1.69 million.
• MPLX reported quarterly EPS of $1.15, slightly above the $1.13 consensus, while revenue of $3.32 billion fell short of estimates and declined 0.4% year over year.
• The company raised its quarterly distribution to $1.2111 per unit, equivalent to $4.84 annually and an indicated yield of about 8.4%.

International Assets Investment Management LLC grew its holdings in Mplx Lp (NYSE:MPLX - Free Report) by 264.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,000 shares of the pipeline company's stock after acquiring an additional 21,769 shares during the quarter. International Assets Investment Management LLC's holdings in Mplx were worth $1,690,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Energy Income Partners LLC acquired a new position in shares of Mplx during the 2nd quarter worth approximately $303,072,000. Bank of New York Mellon Corp acquired a new stake in shares of Mplx in the second quarter valued at approximately $1,094,000. Attessa Capital LLC bought a new stake in shares of Mplx in the second quarter valued at approximately $1,042,000. NEOS Investment Management LLC boosted its stake in shares of Mplx by 45.5% in the second quarter. NEOS Investment Management LLC now owns 486,025 shares of the pipeline company's stock valued at $27,378,000 after buying an additional 152,041 shares during the period. Finally, Militia Capital Management LLC bought a new stake in shares of Mplx in the first quarter valued at approximately $3,824,000. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Mplx Stock Performance

NYSE MPLX opened at $57.49 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 1.71. The firm has a market capitalization of $58.28 billion, a price-to-earnings ratio of 12.36, a P/E/G ratio of 5.62 and a beta of 0.48. The firm's 50 day simple moving average is $58.37 and its 200 day simple moving average is $57.25. Mplx Lp has a 1 year low of $50.22 and a 1 year high of $60.95.

Mplx (NYSE:MPLX - Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The pipeline company reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.02. Mplx had a net margin of 35.75% and a return on equity of 32.83%. The business had revenue of $3.32 billion for the quarter, compared to analysts' expectations of $3.35 billion. During the same period last year, the firm posted $1.52 earnings per share. The firm's quarterly revenue was down .4% compared to the same quarter last year. As a group, research analysts expect that Mplx Lp will post 4.25 earnings per share for the current fiscal year.

Mplx Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, November 6th will be issued a $1.2111 dividend. The ex-dividend date of this dividend is Friday, November 6th. This represents a $4.84 dividend on an annualized basis and a dividend yield of 8.4%. This is a boost from Mplx's previous quarterly dividend of $1.0765. Mplx's dividend payout ratio (DPR) is 92.69%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MPLX. Wolfe Research downgraded Mplx from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. started coverage on Mplx in a research report on Tuesday, October 20th. They set a "neutral" rating and a $62.00 target price for the company. Royal Bank Of Canada upped their target price on Mplx from $60.00 to $64.00 and gave the company an "outperform" rating in a research report on Friday, August 21st. Morgan Stanley reduced their target price on Mplx from $66.00 to $64.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 13th. Finally, Weiss Ratings upgraded Mplx from a "buy (a-)" rating to a "buy (a)" rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $63.80.

Trending Headlines about Mplx

Here are the key news stories impacting Mplx this week:

• Positive Sentiment: MPLX raised its quarterly distribution 12.5% for the third consecutive year, to an annualized $4.84 per unit. Third-quarter distributable cash flow was $1.5 billion, supporting $1.1 billion in capital returned to investors. MPLX third-quarter results and distribution announcement
• Positive Sentiment: Adjusted EBITDA rose 5.3% year over year to $1.859 billion. Management is targeting mid-single-digit EBITDA growth and advancing a $2.9 billion 2026 organic investment program, with proceeds from a $750 million divestiture to be redeployed. MPLX growth and investment plans
• Neutral Sentiment: Quarterly earnings of $1.15 per unit narrowly beat the $1.13 consensus estimate. Harmon Creek III began operations in August, while additional Permian gas infrastructure projects are progressing. MPLX earnings report
• Negative Sentiment: Net income attributable to MPLX declined to $1.164 billion from $1.545 billion a year earlier, while revenue of $3.32 billion came in below the $3.35 billion analyst estimate. The modest earnings beat may not have outweighed these weaker headline comparisons for investors. MPLX third-quarter financial results

Mplx Profile

MPLX LP NYSE: MPLX is a master limited partnership that owns and operates midstream energy infrastructure in the United States. The company provides services for the gathering, processing, transportation, storage and marketing of crude oil, natural gas and natural gas liquids (NGLs).

MPLX's assets include crude oil and refined-products pipelines, natural gas gathering and processing systems, NGL fractionation facilities, storage terminals and marine transportation infrastructure. Through its logistics and storage operations, the company supports the movement of hydrocarbons from producing regions to refineries, export facilities and other domestic markets.

The company serves several major U.S.

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