Curi RMB Capital LLC Sells 17,640 Shares of Mplx Lp $MPLX

Key Points

• Curi RMB Capital LLC significantly reduced its stake in Mplx LP by 69.5%, ending up with 7,745 shares worth $415,000 after selling 17,640 shares.
• Mplx reported a missed earnings estimate for the last quarter, posting earnings of $1.03 per share vs. the expected $1.08, alongside a revenue decline of 1.6% year-over-year.
• The company announced a quarterly dividend of $0.9565, yielding 7.6% annually, with a high payout ratio of 90.97%.

Curi RMB Capital LLC reduced its stake in shares of Mplx Lp (NYSE:MPLX - Free Report) by 69.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,745 shares of the pipeline company's stock after selling 17,640 shares during the quarter. Curi RMB Capital LLC's holdings in Mplx were worth $415,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Mplx by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,904,477 shares of the pipeline company's stock worth $330,448,000 after purchasing an additional 266,998 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Mplx by 17.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 108,988 shares of the pipeline company's stock worth $5,833,000 after purchasing an additional 15,807 shares in the last quarter. Obermeyer Wealth Partners grew its holdings in shares of Mplx by 18.4% during the 1st quarter. Obermeyer Wealth Partners now owns 35,181 shares of the pipeline company's stock worth $1,883,000 after purchasing an additional 5,476 shares in the last quarter. Jump Financial LLC grew its holdings in shares of 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 purchasing an additional 92,196 shares in the last quarter. Finally, Eagle Global Advisors LLC grew its holdings in shares of Mplx by 2.1% during 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 in the last quarter. 24.25% of the stock is owned by institutional investors and hedge funds.

Mplx Trading Up 1.8%

Mplx stock traded up $0.92 during trading hours on Thursday, hitting $50.74. The stock had a trading volume of 1,260,869 shares, compared to its average volume of 1,588,968. The company has a quick ratio of 0.97, a current ratio of 1.03 and a debt-to-equity ratio of 1.40. The stock has a market cap of $51.71 billion, a price-to-earnings ratio of 12.05, a P/E/G ratio of 1.36 and a beta of 0.74. Mplx Lp has a one year low of $42.92 and a one year high of $54.87. The business's 50 day simple moving average is $50.72 and its 200-day simple moving average is $51.20.

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

Mplx Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MPLX shares. Morgan Stanley increased their target price on Mplx from $57.00 to $60.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 26th. Barclays upped their price objective on Mplx from $52.00 to $53.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Stifel Nicolaus upped their price objective on Mplx from $57.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. Finally, Wall Street Zen downgraded Mplx from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Seven investment 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, Mplx currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.89.

Mplx Company 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.