Mplx Lp $MPLX Stake Increased by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

Key Points

• CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in MPLX by 8.7% in Q4 to 1,883,800 shares (≈$100.54 million), making MPLX its third-largest holding and 5.8% of its portfolio.
• MPLX reported quarterly EPS of $1.17 (above the $1.10 estimate) and strong profitability (net margin 37.8%, ROE 34.4%), while analysts' consensus is a “Moderate Buy” with an average target price of $61.89.
• The company declared a quarterly dividend of $1.0765 (paid Feb 17), annualizing to $4.31 for a yield of 7.7% and a dividend payout ratio of 89.21%.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in shares of Mplx Lp (NYSE:MPLX - Free Report) by 8.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,883,800 shares of the pipeline company's stock after buying an additional 150,000 shares during the quarter. Mplx accounts for 5.8% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's investment portfolio, making the stock its 3rd biggest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned 0.19% of Mplx worth $100,538,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Solstein Capital LLC purchased a new stake in shares of Mplx during the 3rd quarter valued at $25,000. Wiser Advisor Group LLC purchased a new stake in shares of Mplx during the 3rd quarter valued at $38,000. Root Financial Partners LLC purchased a new stake in shares of Mplx during the 3rd quarter valued at $39,000. Quent Capital LLC purchased a new stake in shares of Mplx during the 3rd quarter valued at $42,000. Finally, Groesbeck Investment Management Corp NJ purchased a new stake in shares of Mplx during the 4th quarter valued at $49,000. Hedge funds and other institutional investors own 24.25% of the company's stock.

Analyst Ratings Changes

MPLX has been the topic of several research reports. Wall Street Zen cut shares of Mplx from a "buy" rating to a "hold" rating in a research report on Saturday, April 11th. Citigroup lifted their target price on shares of Mplx from $54.00 to $55.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 10th. UBS Group lifted their target price on shares of Mplx from $64.00 to $73.00 and gave the stock a "buy" rating in a research report on Monday, March 16th. JPMorgan Chase & Co. lifted their target price on shares of Mplx from $58.00 to $60.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 10th. Finally, Raymond James Financial cut shares of Mplx from an "outperform" rating to a "market perform" rating in a research report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $61.89.

Mplx Price Performance

Shares of NYSE:MPLX opened at $55.79 on Friday. The stock has a market cap of $56.64 billion, a PE ratio of 11.57, a PEG ratio of 5.11 and a beta of 0.56. The company's fifty day moving average is $57.33 and its 200 day moving average is $54.50. Mplx Lp has a 52 week low of $47.80 and a 52 week high of $59.98. The company has a quick ratio of 1.18, a current ratio of 1.23 and a debt-to-equity ratio of 1.66.

Mplx (NYSE:MPLX - Get Free Report) last issued its earnings results on Tuesday, February 3rd. The pipeline company reported $1.17 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.07. The company had revenue of $5.99 billion for the quarter, compared to analysts' expectations of $3.23 billion. Mplx had a net margin of 37.79% and a return on equity of 34.37%. The firm's revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.07 EPS. Research analysts anticipate that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th were issued a $1.0765 dividend. This represents a $4.31 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend was Monday, February 9th. Mplx's dividend payout ratio (DPR) is 89.21%.

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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