Mplx Lp (NYSE:MPLX) Stake Trimmed by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lessened its stake in shares of Mplx Lp (NYSE:MPLX - Free Report) by 12.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 190,524 shares of the pipeline company's stock after selling 28,278 shares during the period. Sequoia Financial Advisors LLC's holdings in Mplx were worth $10,197,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MPLX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Mplx by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,904,477 shares of the pipeline company's stock valued at $330,448,000 after acquiring an additional 266,998 shares in the last quarter. BROOKFIELD Corp ON grew its stake in Mplx by 1.9% in the fourth quarter. BROOKFIELD Corp ON now owns 4,221,615 shares of the pipeline company's stock valued at $202,047,000 after purchasing an additional 79,799 shares in the last quarter. Westwood Holdings Group Inc. increased its position in Mplx by 5.0% in the 4th quarter. Westwood Holdings Group Inc. now owns 2,279,124 shares of the pipeline company's stock worth $109,079,000 after purchasing an additional 108,228 shares during the last quarter. FMR LLC raised its stake in shares of Mplx by 141.1% during the 4th quarter. FMR LLC now owns 1,985,181 shares of the pipeline company's stock worth $95,011,000 after purchasing an additional 1,161,714 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. raised its stake in shares of Mplx by 2.0% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 1,971,331 shares of the pipeline company's stock worth $94,348,000 after purchasing an additional 37,845 shares in the last quarter. 24.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MPLX shares. Royal Bank Of Canada increased their target price on shares of Mplx from $55.00 to $58.00 and gave the stock an "outperform" rating in a research report on Monday, March 17th. Wall Street Zen lowered shares of Mplx from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 2nd. Barclays lowered their price objective on Mplx from $55.00 to $52.00 and set an "overweight" rating on the stock in a research report on Monday, May 12th. Finally, Morgan Stanley raised their price target on shares of Mplx from $56.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $55.50.

Mplx Price Performance

Shares of NYSE MPLX opened at $51.23 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. Mplx Lp has a twelve month low of $39.95 and a twelve month high of $54.87. The business's 50 day moving average price is $51.07 and its two-hundred day moving average price is $51.06. The company has a market cap of $52.30 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 1.61 and a beta of 0.74.

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

Mplx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 9th were given a $0.9565 dividend. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.47%. The ex-dividend date was Friday, May 9th. Mplx's payout ratio is currently 88.45%.

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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