MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 50,979 Shares of MPLX LP $MPLX

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in MPLX LP by 50,979 shares, amounting to a total of 6,955,456 shares, which now represents 0.8% of their portfolio.
• MPLX recently reported a quarterly earnings miss, with an EPS of $1.03 compared to expectations of $1.08, and total revenue of $2.79 billion, falling short of analyst estimates.
• The company declared a quarterly dividend of $0.9565 per share, reflecting an annualized yield of 7.5%, with a current payout ratio of 90.97%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in MPLX LP (NYSE:MPLX - Free Report) by 0.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,955,456 shares of the pipeline company's stock after purchasing an additional 50,979 shares during the period. MPLX makes up 0.8% of MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s portfolio, making the stock its 14th largest position. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.68% of MPLX worth $372,256,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MPLX. Aptus Capital Advisors LLC bought a new stake in MPLX in the fourth quarter worth $223,000. Cary Street Partners Financial LLC bought a new stake in MPLX in the fourth quarter worth $699,000. Cetera Investment Advisers lifted its stake in MPLX by 11.4% in the fourth quarter. Cetera Investment Advisers now owns 162,113 shares of the pipeline company's stock worth $7,759,000 after purchasing an additional 16,574 shares during the last quarter. Cresset Asset Management LLC lifted its stake in MPLX by 147.7% in the fourth quarter. Cresset Asset Management LLC now owns 57,698 shares of the pipeline company's stock worth $2,761,000 after purchasing an additional 34,404 shares during the last quarter. Finally, Progeny 3 Inc. lifted its stake in MPLX by 2.1% in the fourth quarter. Progeny 3 Inc. now owns 1,036,859 shares of the pipeline company's stock worth $49,624,000 after purchasing an additional 21,400 shares during the last quarter. 24.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on MPLX shares. Wall Street Zen downgraded shares of MPLX from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Stifel Nicolaus boosted their price objective on shares of MPLX from $57.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. Barclays boosted their price objective 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. Finally, Morgan Stanley boosted their price objective on shares of MPLX from $57.00 to $60.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 26th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $55.89.

MPLX Trading Down 0.5%

MPLX stock traded down $0.27 during trading on Friday, reaching $50.54. The company had a trading volume of 1,323,273 shares, compared to its average volume of 1,312,172. MPLX LP has a 52 week low of $42.29 and a 52 week high of $54.87. The company has a market cap of $51.51 billion, a P/E ratio of 12.01, a PEG ratio of 1.38 and a beta of 0.74. The business has a 50 day moving average of $50.79 and a 200 day moving average of $51.24. 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 (NYSE:MPLX - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The pipeline company reported $1.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.08 by ($0.05). MPLX had a return on equity of 30.95% and a net margin of 35.44%.The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the previous year, the company earned $1.15 earnings per share. MPLX's quarterly revenue was down 1.6% on a year-over-year basis. As a group, sell-side analysts forecast that MPLX LP will post 4.41 earnings per share for the current fiscal 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 paid a $0.9565 dividend. This represents a $3.83 dividend on an annualized basis and a yield of 7.6%. The ex-dividend date of this dividend was Friday, August 8th. MPLX's dividend payout ratio is presently 90.97%.

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.