Commerce Bank Invests $392,000 in Mplx Lp (NYSE:MPLX)

Commerce Bank purchased a new position in Mplx Lp (NYSE:MPLX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,317 shares of the pipeline company's stock, valued at approximately $392,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MPLX. O Shaughnessy Asset Management LLC acquired a new position in shares of Mplx in the 4th quarter worth approximately $221,000. National Bank of Canada FI acquired a new position in shares of Mplx in the 4th quarter worth approximately $311,000. Wedbush Securities Inc. acquired a new position in shares of Mplx during the 4th quarter valued at $364,000. Russell Investments Group Ltd. lifted its position in shares of Mplx by 139.6% during the 4th quarter. Russell Investments Group Ltd. now owns 1,785 shares of the pipeline company's stock valued at $85,000 after acquiring an additional 1,040 shares during the period. Finally, FMR LLC lifted its position in shares of Mplx by 141.1% during the 4th quarter. FMR LLC now owns 1,985,181 shares of the pipeline company's stock valued at $95,011,000 after acquiring an additional 1,161,714 shares during the period. Institutional investors and hedge funds own 24.25% of the company's stock.

Mplx Stock Performance

Shares of MPLX stock opened at $51.25 on Thursday. The firm has a market capitalization of $52.31 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 1.33 and a beta of 0.73. The firm has a fifty day simple moving average of $51.22 and a two-hundred day simple moving average of $51.61. The company has a current ratio of 1.08, a quick ratio of 1.04 and a debt-to-equity ratio of 1.40. Mplx Lp has a 12 month low of $39.95 and a 12 month high of $54.87.

Mplx (NYSE:MPLX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The pipeline company reported $1.03 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.05). The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $3.13 billion. Mplx had a net margin of 35.44% and a return on equity of 31.04%. The business's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.15 EPS. Analysts forecast that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 8th will be issued a dividend of $0.9565 per share. The ex-dividend date is Friday, August 8th. This represents a $3.83 annualized dividend and a yield of 7.5%. Mplx's payout ratio is 88.45%.

Analyst Upgrades and Downgrades

MPLX has been the topic of a number of research reports. Wall Street Zen downgraded shares of Mplx from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Barclays boosted their target price on shares of Mplx from $52.00 to $53.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Mplx has an average rating of "Moderate Buy" and an average price target of $55.63.

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.

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