Beach Investment Counsel Inc. PA lessened its holdings in Mplx Lp (NYSE:MPLX - Free Report) by 2.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 848,333 shares of the pipeline company's stock after selling 20,446 shares during the quarter. Mplx accounts for 6.7% of Beach Investment Counsel Inc. PA's investment portfolio, making the stock its 3rd biggest position. Beach Investment Counsel Inc. PA owned 0.08% of Mplx worth $45,403,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 valued at $330,448,000 after buying an additional 266,998 shares during the period. Bramshill Investments LLC grew its stake in Mplx by 71.4% in the fourth 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. Larson Financial Group LLC increased its stake in shares of Mplx by 9,134.1% in the 4th quarter. Larson Financial Group LLC now owns 11,635 shares of the pipeline company's stock worth $557,000 after acquiring an additional 11,509 shares in the last quarter. Neuberger Berman Group LLC lifted its position in 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 acquiring an additional 443,910 shares during the period. Finally, Blair William & Co. IL boosted its stake in Mplx by 47.5% during the fourth quarter. Blair William & Co. IL now owns 18,520 shares of the pipeline company's stock worth $886,000 after acquiring an additional 5,965 shares in the last quarter. 24.25% of the stock is owned by institutional investors.
Mplx Stock Performance
Shares of MPLX stock traded up $0.70 during trading hours on Wednesday, reaching $51.63. The company had a trading volume of 1,109,008 shares, compared to its average volume of 1,756,782. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. Mplx Lp has a one year low of $39.95 and a one year high of $54.87. The firm has a market cap of $52.71 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 1.69 and a beta of 0.74. The business has a fifty day moving average price of $50.34 and a 200-day moving average price of $50.93.
Mplx (NYSE:MPLX - Get Free Report) last announced its earnings results on Tuesday, May 6th. The pipeline company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.03. Mplx had a net margin of 36.18% and a return on equity of 31.94%. The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the business posted $0.98 earnings per share. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. Sell-side analysts predict that Mplx Lp will post 4.41 earnings per share for the current fiscal year.
Mplx Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 9th were given a dividend of $0.9565 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $3.83 annualized dividend and a yield of 7.41%. Mplx's dividend payout ratio (DPR) is presently 88.22%.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the stock. Royal Bank of Canada raised their target price on shares of Mplx from $55.00 to $58.00 and gave the company an "outperform" rating in a research note on Monday, March 17th. Wall Street Zen cut Mplx from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 2nd. Morgan Stanley increased their target price on Mplx from $56.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 11th. Finally, Barclays lowered their price target on Mplx from $55.00 to $52.00 and set an "overweight" rating for the company in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. According to MarketBeat, Mplx currently has an average rating of "Moderate Buy" and an average target price of $55.50.
Read Our Latest Analysis on MPLX
Mplx Profile
(
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.
Further Reading
Before you consider Mplx, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Mplx wasn't on the list.
While Mplx currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
