Mizuho Markets Americas LLC Has $2.57 Million Stock Position in MPLX LP (NYSE:MPLX)

Key Points

• Mizuho Markets Americas LLC significantly increased its stake in MPLX by 108.7%, owning 47,968 shares valued at $2.57 million following the acquisition of an additional 24,989 shares.
• Recent analyst reports show mixed ratings for MPLX, with Wall Street Zen downgrading it to a "hold" while Barclays raised the price target to $53.00.
• MPLX declared a quarterly dividend of $0.9565, representing a 7.6% yield with a payout ratio of 90.97% as of the latest update.

Mizuho Markets Americas LLC lifted its holdings in MPLX LP (NYSE:MPLX - Free Report) by 108.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,968 shares of the pipeline company's stock after purchasing an additional 24,989 shares during the period. Mizuho Markets Americas LLC's holdings in MPLX were worth $2,567,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Colonial River Investments LLC boosted its holdings in shares of MPLX by 1.8% during the first quarter. Colonial River Investments LLC now owns 11,603 shares of the pipeline company's stock worth $621,000 after purchasing an additional 200 shares during the period. Axxcess Wealth Management LLC lifted its stake in MPLX by 1.8% in the first quarter. Axxcess Wealth Management LLC now owns 11,603 shares of the pipeline company's stock valued at $621,000 after acquiring an additional 200 shares during the last quarter. RE Dickinson Investment Advisors LLC lifted its stake in MPLX by 11.5% in the fourth quarter. RE Dickinson Investment Advisors LLC now owns 2,017 shares of the pipeline company's stock valued at $96,000 after acquiring an additional 208 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in MPLX by 1.1% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 21,520 shares of the pipeline company's stock valued at $1,030,000 after acquiring an additional 231 shares during the last quarter. Finally, Cherry Creek Investment Advisors Inc. lifted its stake in MPLX by 1.8% in the first quarter. Cherry Creek Investment Advisors Inc. now owns 14,743 shares of the pipeline company's stock valued at $789,000 after acquiring an additional 254 shares during the last quarter. Institutional investors and hedge funds own 24.25% of the company's stock.

MPLX Trading Down 0.7%

MPLX stock traded down $0.37 during trading hours on Tuesday, reaching $49.83. 1,929,383 shares of the company's stock traded hands, compared to its average volume of 1,381,550. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.97 and a current ratio of 1.03. The firm has a market capitalization of $50.87 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 1.31 and a beta of 0.73. The firm's 50 day moving average is $51.16 and its 200-day moving average is $51.57. MPLX LP has a fifty-two week low of $39.95 and a fifty-two week high of $54.87.

MPLX (NYSE:MPLX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The pipeline company reported $1.03 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.05). The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $3.13 billion. MPLX had a net margin of 35.44% and a return on equity of 30.95%. The business's revenue was down 1.6% compared to the same quarter last year. During the same period last year, the company earned $1.15 earnings per share. On average, analysts predict that MPLX LP will post 4.41 earnings per share for the current year.

MPLX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 8th will be paid a dividend of $0.9565 per share. This represents a $3.83 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend is Friday, August 8th. MPLX's dividend payout ratio is presently 90.97%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MPLX. Barclays boosted 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 lowered 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 six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $55.63.

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.