Jennison Associates LLC Sells 11,417 Shares of Mplx Lp (NYSE:MPLX)

Jennison Associates LLC trimmed its position in shares of Mplx Lp (NYSE:MPLX - Free Report) by 1.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 771,694 shares of the pipeline company's stock after selling 11,417 shares during the period. Jennison Associates LLC owned 0.08% of Mplx worth $41,301,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Mplx by 4.0% during the fourth 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 acquiring an additional 266,998 shares in the last quarter. BROOKFIELD Corp ON grew its stake in Mplx by 1.9% during the fourth quarter. BROOKFIELD Corp ON now owns 4,221,615 shares of the pipeline company's stock valued at $202,047,000 after acquiring an additional 79,799 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in Mplx by 5.0% during the fourth quarter. Westwood Holdings Group Inc. now owns 2,279,124 shares of the pipeline company's stock valued at $109,079,000 after acquiring an additional 108,228 shares in the last quarter. FMR LLC grew its stake in Mplx by 141.1% during the fourth quarter. FMR LLC now owns 1,985,181 shares of the pipeline company's stock valued at $95,011,000 after acquiring an additional 1,161,714 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. grew its stake in Mplx by 2.0% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 1,971,331 shares of the pipeline company's stock valued at $94,348,000 after acquiring an additional 37,845 shares in the last quarter. 24.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Barclays reissued an "overweight" rating and issued a $53.00 price objective (up from $52.00) on shares of Mplx in a research note on Friday, July 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $55.63.

Mplx Trading Up 0.5%

NYSE:MPLX opened at $50.76 on Friday. Mplx Lp has a one year low of $39.95 and a one year high of $54.87. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.04 and a current ratio of 1.08. The firm has a market cap of $51.82 billion, a P/E ratio of 11.72, a P/E/G ratio of 1.32 and a beta of 0.73. The firm has a 50-day simple moving average of $51.08 and a 200-day simple moving average of $51.42.

Mplx (NYSE:MPLX - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.07 by $0.03. Mplx had a net margin of 36.34% and a return on equity of 32.08%. The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous year, the business posted $0.98 EPS. The company's quarterly revenue was up 9.8% compared to the same quarter last year. Equities analysts anticipate that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were given a $0.9565 dividend. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.54%. The ex-dividend date of this dividend was Friday, May 9th. Mplx's payout ratio is currently 88.45%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.