Mplx Lp (NYSE:MPLX) Shares Sold by ING Groep NV

Key Points

• ING Groep NV reduced its stake in Mplx Lp by 1.7% during the first quarter, leaving it with approximately 4.55 million shares valued at about $243 million.
• Mplx recently declared a quarterly dividend of $0.9565 per share, which translates to an annualized dividend of $3.83 and a yield of 7.4%.
• The company's latest earnings report showed EPS of $1.10, surpassing analyst estimates, with revenue of $2.89 billion for the quarter, reflecting a 9.8% increase year-over-year.

ING Groep NV reduced its position in shares of Mplx Lp (NYSE:MPLX - Free Report) by 1.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,547,500 shares of the pipeline company's stock after selling 78,100 shares during the period. Mplx makes up approximately 1.7% of ING Groep NV's portfolio, making the stock its 12th largest position. ING Groep NV owned about 0.44% of Mplx worth $243,382,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Rossby Financial LCC acquired a new position in shares of Mplx during the 1st quarter worth $33,000. JFS Wealth Advisors LLC acquired a new position in Mplx during the first quarter worth about $37,000. MorganRosel Wealth Management LLC purchased a new position in Mplx in the first quarter valued at about $48,000. PSI Advisors LLC lifted its position in shares of Mplx by 32.5% during the 1st quarter. PSI Advisors LLC now owns 1,100 shares of the pipeline company's stock valued at $59,000 after acquiring an additional 270 shares during the period. Finally, Private Trust Co. NA acquired a new stake in shares of Mplx during the 1st quarter valued at approximately $65,000. Institutional investors and hedge funds own 24.25% of the company's stock.

Mplx Price Performance

Shares of NYSE:MPLX opened at $51.93 on Monday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.04 and a current ratio of 1.08. The business's fifty day moving average price is $51.18 and its two-hundred day moving average price is $51.61. The stock has a market cap of $53.01 billion, a PE ratio of 11.99, a price-to-earnings-growth ratio of 1.35 and a beta of 0.73. Mplx Lp has a one year low of $39.95 and a one year high of $54.87.

Mplx (NYSE:MPLX - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.03. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $3.15 billion. Mplx had a return on equity of 32.08% and a net margin of 36.34%. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 earnings per share. On average, analysts forecast that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 8th will be issued a dividend of $0.9565 per share. The ex-dividend date is Friday, August 8th. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.4%. Mplx's payout ratio is 88.45%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MPLX. Wall Street Zen cut Mplx from a "buy" rating to a "hold" rating in a report on Saturday. Barclays upped their target price on Mplx from $52.00 to $53.00 and gave the company an "overweight" rating in a report on Friday, July 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus 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.

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