Mplx Lp $MPLX Shares Sold by Inspire Investing LLC

Inspire Investing LLC cut its holdings in shares of Mplx Lp (NYSE:MPLX - Free Report) by 93.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,624 shares of the pipeline company's stock after selling 23,658 shares during the quarter. Inspire Investing LLC's holdings in Mplx were worth $93,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in MPLX. Invesco Ltd. increased its stake in shares of Mplx by 0.7% during the 3rd quarter. Invesco Ltd. now owns 19,561,938 shares of the pipeline company's stock valued at $977,119,000 after acquiring an additional 143,361 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Mplx by 8.3% in the second quarter. Bank of America Corp DE now owns 9,873,619 shares of the pipeline company's stock worth $508,590,000 after acquiring an additional 757,569 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Mplx by 4.4% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,060,024 shares of the pipeline company's stock valued at $352,648,000 after purchasing an additional 300,321 shares during the period. Morgan Stanley grew its holdings in Mplx by 23.7% in the fourth quarter. Morgan Stanley now owns 5,763,110 shares of the pipeline company's stock valued at $307,577,000 after purchasing an additional 1,104,510 shares during the period. Finally, Energy Income Partners LLC increased its position in Mplx by 2.1% during the third quarter. Energy Income Partners LLC now owns 5,659,885 shares of the pipeline company's stock worth $282,711,000 after purchasing an additional 118,090 shares during the last quarter. 24.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group increased their price target on shares of Mplx from $55.00 to $63.00 and gave the stock a "buy" rating in a research note on Monday, April 20th. Wells Fargo & Company lowered their price objective on shares of Mplx from $63.00 to $61.00 and set an "overweight" rating for the company in a research note on Thursday, May 7th. Barclays upped their price objective on Mplx from $58.00 to $59.00 and gave the stock an "overweight" rating in a report on Thursday, May 14th. Weiss Ratings cut Mplx from a "buy (a)" rating to a "buy (a-)" rating in a report on Monday, May 18th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $60.00 price target on shares of Mplx in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $61.60.

Mplx Trading Down 0.3%

NYSE:MPLX opened at $57.01 on Tuesday. The business's 50-day moving average is $55.92 and its two-hundred day moving average is $56.06. The firm has a market capitalization of $57.85 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 5.48 and a beta of 0.47. Mplx Lp has a 12 month low of $47.80 and a 12 month high of $59.98. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.10 and a quick ratio of 1.05.

Mplx (NYSE:MPLX - Get Free Report) last issued its earnings results on Tuesday, May 5th. The pipeline company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.15). The company had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $3.09 billion. Mplx had a return on equity of 32.74% and a net margin of 36.38%.Mplx's quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.10 EPS. Research analysts predict that Mplx Lp will post 4.22 earnings per share for the current fiscal year.

Mplx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were paid a dividend of $1.0765 per share. The ex-dividend date was Friday, May 8th. This represents a $4.31 dividend on an annualized basis and a dividend yield of 7.6%. Mplx's dividend payout ratio (DPR) is currently 93.07%.

Mplx Company Profile

MPLX LP NYSE: MPLX is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership's asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.

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