Delta Investment Management LLC Acquires New Holdings in Mplx Lp $MPLX

Key Points

• Delta Investment Management LLC has acquired a new position in Mplx Lp, purchasing 20,287 shares valued at approximately $1,086,000 in the first quarter.
• Multiple institutional investors, including Goldman Sachs and Kayne Anderson Capital Advisors, have increased their holdings in Mplx, reflecting growing interest in the company.
• Shares of Mplx recently reported a quarterly EPS of $1.03, missing the consensus estimate by $0.05, while the company also declared a quarterly dividend yielding 7.5%.

Delta Investment Management LLC purchased a new position in shares of Mplx Lp (NYSE:MPLX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 20,287 shares of the pipeline company's stock, valued at approximately $1,086,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its position in shares of Mplx by 0.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 13,649,224 shares of the pipeline company's stock worth $730,506,000 after purchasing an additional 83,392 shares during the period. Kayne Anderson Capital Advisors LP grew its stake in Mplx by 38.2% in the first quarter. Kayne Anderson Capital Advisors LP now owns 7,788,063 shares of the pipeline company's stock valued at $416,817,000 after acquiring an additional 2,153,490 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Mplx by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,904,477 shares of the pipeline company's stock valued at $330,448,000 after purchasing an additional 266,998 shares during the period. JPMorgan Chase & Co. increased its position in shares of Mplx by 14.9% during the first quarter. JPMorgan Chase & Co. now owns 5,045,968 shares of the pipeline company's stock worth $270,060,000 after acquiring an additional 654,489 shares in the last quarter. Finally, BROOKFIELD Corp ON increased its holdings in Mplx by 1.9% during the 4th quarter. BROOKFIELD Corp ON now owns 4,221,615 shares of the pipeline company's stock worth $202,047,000 after purchasing an additional 79,799 shares in the last quarter. 24.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Stifel Nicolaus upped their target price on shares of Mplx from $57.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. Barclays boosted their target price on Mplx from $52.00 to $53.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Wall Street Zen cut shares of Mplx from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Morgan Stanley raised their target price on Mplx from $57.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Mplx currently has a consensus rating of "Moderate Buy" and an average price target of $55.89.

Mplx Trading Up 0.9%

Shares of MPLX opened at $50.77 on Wednesday. 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 capitalization of $51.74 billion, a P/E ratio of 12.06, a PEG ratio of 1.33 and a beta of 0.73. Mplx Lp has a twelve month low of $41.83 and a twelve month high of $54.87. The firm has a fifty day simple moving average of $50.91 and a two-hundred day simple moving average of $51.42.

Mplx (NYSE:MPLX - Get Free Report) last released 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). Mplx had a net margin of 35.44% and a return on equity of 30.95%. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the previous year, the company earned $1.15 EPS. The company's revenue for the quarter was down 1.6% on a year-over-year basis. On average, research analysts anticipate that Mplx Lp will post 4.41 EPS for the current year.

Mplx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were given a dividend of $0.9565 per share. The ex-dividend date was Friday, August 8th. This represents a $3.83 annualized dividend and a dividend yield of 7.5%. Mplx's payout ratio is currently 90.74%.

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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