Maryland State Retirement & Pension System Has $17.08 Million Holdings in Mplx Lp (NYSE:MPLX)

Key Points

• The Maryland State Retirement & Pension System increased its holdings in Mplx Lp by 2.6%, owning 319,121 shares valued at approximately $17.08 million.
• Mplx reported $1.03 earnings per share for its latest quarter, missing consensus estimates of $1.08, while its revenue of $2.79 billion fell short of analyst projections of $3.13 billion.
• The company declared a quarterly dividend of $0.9565, translating to an annualized dividend yield of 7.5%, with a payout ratio of 88.45%.

Maryland State Retirement & Pension System lifted its stake in Mplx Lp (NYSE:MPLX - Free Report) by 2.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 319,121 shares of the pipeline company's stock after purchasing an additional 8,178 shares during the period. Maryland State Retirement & Pension System's holdings in Mplx were worth $17,079,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of MPLX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of 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 worth $330,448,000 after acquiring an additional 266,998 shares during the last quarter. Bramshill Investments LLC increased its position in Mplx by 71.4% in the fourth quarter. Bramshill Investments LLC now owns 30,130 shares of the pipeline company's stock worth $1,442,000 after purchasing an additional 12,556 shares during the period. Neuberger Berman Group LLC raised its holdings in Mplx by 221.9% during the 4th quarter. Neuberger Berman Group LLC now owns 643,995 shares of the pipeline company's stock worth $30,822,000 after purchasing an additional 443,910 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Mplx by 17.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 108,988 shares of the pipeline company's stock valued at $5,833,000 after purchasing an additional 15,807 shares during the period. Finally, Obermeyer Wealth Partners boosted its stake in shares of Mplx by 18.4% in the 1st quarter. Obermeyer Wealth Partners now owns 35,181 shares of the pipeline company's stock valued at $1,883,000 after purchasing an additional 5,476 shares during the last quarter. Institutional investors own 24.25% of the company's stock.

Mplx Trading Down 2.2%

Shares of NYSE MPLX traded down $1.11 during midday trading on Friday, reaching $50.41. 1,843,556 shares of the stock were exchanged, compared to its average volume of 1,309,280. Mplx Lp has a 12 month low of $39.95 and a 12 month high of $54.87. The company has a market capitalization of $51.46 billion, a price-to-earnings ratio of 11.97, a P/E/G ratio of 1.35 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 1.04. The business has a 50-day simple moving average of $51.22 and a two-hundred day simple moving average of $51.60.

Mplx (NYSE:MPLX - Get Free Report) last posted its earnings results on Tuesday, August 5th. The pipeline company reported $1.03 earnings per share 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 for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the firm posted $1.15 earnings per share. The business's revenue was down 1.6% on a year-over-year basis. As a group, equities research analysts expect that Mplx Lp will post 4.41 EPS for the current year.

Mplx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 8th will be paid a $0.9565 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $3.83 dividend on an annualized basis and a yield of 7.6%. Mplx's payout ratio is presently 90.97%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Mplx from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Barclays upped their target price on shares of Mplx from $52.00 to $53.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $55.63.

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.