Deutsche Bank AG Has $47.11 Million Stake in 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 lessened its holdings in Mplx Lp (NYSE:MPLX - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Rossby Financial LCC bought a new position in Mplx in the 1st quarter worth $33,000. JFS Wealth Advisors LLC bought a new position in Mplx in the 1st quarter worth $37,000. MorganRosel Wealth Management LLC bought a new position in Mplx in the 1st quarter worth $48,000. PSI Advisors LLC raised its holdings in Mplx by 32.5% in the 1st quarter. PSI Advisors LLC now owns 1,100 shares of the pipeline company's stock worth $59,000 after acquiring an additional 270 shares during the period. Finally, Private Trust Co. NA bought a new position in Mplx in the 1st quarter worth $65,000. Institutional investors and hedge funds own 24.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MPLX shares. Barclays lifted their target price on shares of Mplx from $52.00 to $53.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Stifel Nicolaus lifted their target price on shares of Mplx from $57.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Wall Street Zen downgraded shares of Mplx from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Mplx has an average rating of "Moderate Buy" and a consensus target price of $56.11.

Mplx Price Performance

NYSE:MPLX traded up $0.25 during mid-day trading on Friday, hitting $50.41. The company's stock had a trading volume of 1,467,383 shares, compared to its average volume of 1,629,139. Mplx Lp has a fifty-two week low of $41.80 and a fifty-two week high of $54.87. The company has a current ratio of 1.03, a quick ratio of 0.97 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $51.46 billion, a price-to-earnings ratio of 11.97, a P/E/G ratio of 1.31 and a beta of 0.73. The stock has a fifty day moving average of $51.11 and a 200-day moving average of $51.55.

Mplx (NYSE:MPLX - Get Free Report) last posted its quarterly 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). Mplx had a return on equity of 30.95% and a net margin of 35.44%. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the company earned $1.15 EPS. The business's revenue for the quarter was down 1.6% on a year-over-year basis. As a group, equities analysts forecast that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 8th will be issued a dividend of $0.9565 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $3.83 annualized dividend and a dividend yield of 7.6%. Mplx's dividend payout ratio (DPR) is presently 90.97%.

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.