Deutsche Bank AG Sells 32,260 Shares of Mplx Lp (NYSE:MPLX)

Key Points

• Deutsche Bank AG reduced its holdings in MPLX LP by 3.5%, selling 32,260 shares and owning approximately 0.09% of the company, valued at $47.1 million.
• MPLX reported earnings of $1.03 per share, missing estimates and showing a 1.6% revenue decline year-over-year, with a total revenue of $2.79 billion for the quarter.
• The company declared a quarterly dividend of $0.9565 per share, resulting in a 7.6% yield, with a payout ratio of approximately 90.97%.

Deutsche Bank AG trimmed its stake in shares of Mplx Lp (NYSE:MPLX - Free Report) by 3.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 880,180 shares of the pipeline company's stock after selling 32,260 shares during the period. Deutsche Bank AG owned 0.09% of Mplx worth $47,107,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew its stake in Mplx by 0.6% during the first quarter. Goldman Sachs Group Inc. now owns 13,649,224 shares of the pipeline company's stock valued at $730,506,000 after acquiring an additional 83,392 shares in the last quarter. Reaves W H & Co. Inc. grew its stake in Mplx by 340.0% during the first quarter. Reaves W H & Co. Inc. now owns 110,000 shares of the pipeline company's stock valued at $5,887,000 after acquiring an additional 85,000 shares in the last quarter. Atria Wealth Solutions Inc. grew its stake in Mplx by 1.1% during the first quarter. Atria Wealth Solutions Inc. now owns 58,077 shares of the pipeline company's stock valued at $3,108,000 after acquiring an additional 653 shares in the last quarter. Thoroughbred Financial Services LLC purchased a new position in Mplx during the first quarter valued at $223,000. Finally, Plan Group Financial LLC purchased a new position in Mplx during the first quarter valued at $548,000. 24.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Barclays lifted their price objective on shares of Mplx from $52.00 to $53.00 and gave the stock 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, Stifel Nicolaus lifted their price objective on shares of Mplx from $57.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Mplx currently has a consensus rating of "Moderate Buy" and an average price target of $56.11.

Mplx Trading Down 0.3%

Shares of Mplx stock traded down $0.14 during trading on Friday, hitting $50.02. The stock had a trading volume of 2,088,463 shares, compared to its average volume of 1,517,815. The firm's fifty day simple moving average is $51.08 and its 200-day simple moving average is $51.54. The stock has a market cap of $51.06 billion, a PE ratio of 11.88, a PEG ratio of 1.32 and a beta of 0.73. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.03 and a quick ratio of 0.97. Mplx Lp has a 12 month low of $41.80 and a 12 month high of $54.87.

Mplx (NYSE:MPLX - Get Free Report) last released 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). The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $3.13 billion. Mplx had a return on equity of 30.95% and a net margin of 35.44%. Mplx's revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.15 EPS. As a group, sell-side analysts expect 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. Stockholders of record on Friday, August 8th were issued a $0.9565 dividend. This represents a $3.83 annualized dividend and a dividend yield of 7.6%. The ex-dividend date was Friday, August 8th. Mplx's dividend payout ratio (DPR) is 90.97%.

About Mplx

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.