CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in Mplx Lp (NYSE:MPLX - Free Report) by 21.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,822,709 shares of the pipeline company's stock after buying an additional 315,747 shares during the period. Mplx accounts for about 6.0% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings, making the stock its 5th largest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned 0.18% of Mplx worth $97,551,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in MPLX. Ieq Capital LLC bought a new position in shares of Mplx in the fourth quarter worth approximately $219,000. Sigma Planning Corp raised its holdings in Mplx by 18.0% in the 4th quarter. Sigma Planning Corp now owns 7,690 shares of the pipeline company's stock worth $368,000 after acquiring an additional 1,171 shares during the last quarter. IFP Advisors Inc lifted its position in Mplx by 24.6% in the 4th quarter. IFP Advisors Inc now owns 8,792 shares of the pipeline company's stock valued at $421,000 after acquiring an additional 1,736 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in Mplx by 368.0% during the 4th quarter. Oppenheimer & Co. Inc. now owns 188,057 shares of the pipeline company's stock valued at $9,000,000 after purchasing an additional 147,872 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of Mplx by 2.0% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 33,834 shares of the pipeline company's stock worth $1,619,000 after purchasing an additional 663 shares in the last quarter. 24.25% of the stock is owned by institutional investors.
Mplx Stock Performance
Shares of Mplx stock traded down $0.71 during trading hours on Tuesday, reaching $50.80. 1,768,280 shares of the stock traded hands, compared to its average volume of 1,669,514. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $51.86 billion, a price-to-earnings ratio of 11.73, a P/E/G ratio of 1.60 and a beta of 0.74. The company has a 50 day moving average price of $51.14 and a 200 day moving average price of $51.14. Mplx Lp has a one year low of $39.95 and a one year high of $54.87.
Mplx (NYSE:MPLX - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.07 by $0.03. Mplx had a return on equity of 32.08% and a net margin of 36.34%. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period in the prior year, the business posted $0.98 EPS. Mplx's revenue was up 9.8% on a year-over-year basis. On average, equities research analysts expect that Mplx Lp will post 4.41 earnings per share for the current fiscal year.
Mplx Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 9th were given a $0.9565 dividend. This represents a $3.83 dividend on an annualized basis and a yield of 7.53%. The ex-dividend date was Friday, May 9th. Mplx's payout ratio is 88.45%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on MPLX. Barclays lowered their price target on Mplx from $55.00 to $52.00 and set an "overweight" rating on the stock in a report on Monday, May 12th. Morgan Stanley upped their target price on shares of Mplx from $56.00 to $62.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 11th. Finally, Royal Bank Of Canada raised their price target on shares of Mplx from $55.00 to $58.00 and gave the company an "outperform" rating in a report on Monday, March 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Mplx has an average rating of "Moderate Buy" and an average price target of $55.50.
View Our Latest Analysis on MPLX
Mplx Profile
(
Free Report)
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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