Morningstar Investment Management LLC trimmed its holdings in shares of Mplx Lp (NYSE:MPLX - Free Report) by 60.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,610 shares of the pipeline company's stock after selling 21,967 shares during the quarter. Morningstar Investment Management LLC's holdings in Mplx were worth $782,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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 purchasing an additional 266,998 shares during the last quarter. Bramshill Investments LLC raised its holdings in shares of Mplx by 71.4% in the 4th 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 shares of Mplx by 221.9% during the 4th quarter. Neuberger Berman Group LLC now owns 643,995 shares of the pipeline company's stock valued at $30,822,000 after buying an additional 443,910 shares during the period. Blair William & Co. IL raised its holdings in shares of Mplx by 47.5% during the 4th quarter. Blair William & Co. IL now owns 18,520 shares of the pipeline company's stock valued at $886,000 after buying an additional 5,965 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings 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 worth $5,833,000 after purchasing an additional 15,807 shares during the last quarter. 24.25% of the stock is owned by institutional investors and hedge funds.
Mplx Stock Performance
MPLX stock traded down $0.71 on Friday, hitting $51.79. The company had a trading volume of 973,428 shares, compared to its average volume of 1,613,254. The stock's 50-day simple moving average is $51.15 and its 200 day simple moving average is $51.58. The stock has a market cap of $52.87 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 1.36 and a beta of 0.73. Mplx Lp has a 12-month low of $39.95 and a 12-month high of $54.87. The company has a current ratio of 1.08, a quick ratio of 1.04 and a debt-to-equity ratio of 1.40.
Mplx (NYSE:MPLX - Get Free Report) last posted its earnings results on Tuesday, May 6th. The pipeline company reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.03. Mplx had a net margin of 36.34% and a return on equity of 32.08%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the firm posted $0.98 EPS. The business's quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities research analysts expect that Mplx Lp will post 4.41 earnings per share for the current fiscal year.
Mplx Dividend Announcement
The firm 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 $0.9565 dividend. This represents a $3.83 annualized dividend and a dividend yield of 7.4%. The ex-dividend date of this dividend is Friday, August 8th. Mplx's dividend payout ratio is 88.45%.
Analyst Ratings Changes
Separately, Barclays boosted their target price on Mplx from $52.00 to $53.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Mplx currently has an average rating of "Moderate Buy" and an average target price of $55.63.
View Our Latest Report on Mplx
About Mplx
(
Free Report)
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.
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