BROOKFIELD Corp ON Decreases Stock Holdings in Mplx Lp $MPLX

Key Points

• BROOKFIELD Corp ON reduced its stake in Mplx Lp by 8.4%, selling 355,070 shares, and now holds approximately 3.87 million shares valued at $206.9 million.
• Mplx reported $1.03 earnings per share in its latest quarterly results, missing estimates and showing a 1.6% year-over-year revenue decline with revenues of $2.79 billion.
• The company announced a quarterly dividend of $0.9565 per share, reflecting a 7.5% yield and a payout ratio of 90.97%.

BROOKFIELD Corp ON lessened its holdings in Mplx Lp (NYSE:MPLX - Free Report) by 8.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,866,545 shares of the pipeline company's stock after selling 355,070 shares during the quarter. Mplx accounts for 1.2% of BROOKFIELD Corp ON's investment portfolio, making the stock its 14th biggest position. BROOKFIELD Corp ON owned 0.38% of Mplx worth $206,938,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its stake in shares of Mplx by 17.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 108,988 shares of the pipeline company's stock valued at $5,833,000 after buying an additional 15,807 shares during the last quarter. Obermeyer Wealth Partners boosted its holdings in Mplx by 18.4% during the 1st quarter. Obermeyer Wealth Partners now owns 35,181 shares of the pipeline company's stock valued at $1,883,000 after acquiring an additional 5,476 shares during the period. Jump Financial LLC grew its position in Mplx by 349.2% during the 1st quarter. Jump Financial LLC now owns 118,600 shares of the pipeline company's stock worth $6,347,000 after acquiring an additional 92,196 shares during the last quarter. Eagle Global Advisors LLC increased its stake in Mplx by 2.1% in the 1st quarter. Eagle Global Advisors LLC now owns 1,896,430 shares of the pipeline company's stock worth $101,497,000 after purchasing an additional 39,427 shares during the period. Finally, HighTower Advisors LLC lifted its position in Mplx by 3.6% in the first quarter. HighTower Advisors LLC now owns 614,791 shares of the pipeline company's stock valued at $32,904,000 after purchasing an additional 21,225 shares during the last quarter. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Mplx Stock Up 0.1%

NYSE:MPLX traded up $0.05 on Wednesday, reaching $51.11. 451,281 shares of the stock traded hands, compared to its average volume of 1,583,891. The company has a current ratio of 1.03, a quick ratio of 0.97 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $52.08 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 1.40 and a beta of 0.74. Mplx Lp has a 12 month low of $43.53 and a 12 month high of $54.87. The company's fifty day simple moving average is $50.74 and its 200 day simple moving average is $51.13.

Mplx (NYSE:MPLX - Get Free Report) last issued its earnings results on Tuesday, August 5th. The pipeline company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.05). Mplx had a return on equity of 30.95% and a net margin of 35.44%.The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the company posted $1.15 EPS. The company's quarterly revenue was down 1.6% on a year-over-year basis. Equities analysts predict that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 8th were paid a dividend of $0.9565 per share. This represents a $3.83 annualized dividend and a yield of 7.5%. The ex-dividend date was Friday, August 8th. Mplx's dividend payout ratio (DPR) is currently 90.97%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MPLX shares. Barclays increased their price objective on Mplx from $52.00 to $53.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Morgan Stanley increased their price target on shares of Mplx from $57.00 to $60.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 26th. Stifel Nicolaus boosted their price objective on shares of Mplx from $57.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. Finally, Wall Street Zen downgraded shares of Mplx from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $55.89.

Mplx Profile

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Crude Oil and Products Logistics and Natural Gas and NGL Services segments. The Crude Oil and Products Logistics segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.