M&T Bank Corp Sells 16,000 Shares of Mplx Lp (NYSE:MPLX)

M&T Bank Corp lowered its stake in Mplx Lp (NYSE:MPLX - Free Report) by 36.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,494 shares of the pipeline company's stock after selling 16,000 shares during the period. M&T Bank Corp's holdings in Mplx were worth $1,471,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its position in Mplx by 55.8% during the 4th quarter. Farther Finance Advisors LLC now owns 5,376 shares of the pipeline company's stock worth $257,000 after acquiring an additional 1,925 shares during the last quarter. Avantax Advisory Services Inc. lifted its holdings in shares of Mplx by 35.4% during the fourth quarter. Avantax Advisory Services Inc. now owns 6,663 shares of the pipeline company's stock valued at $319,000 after purchasing an additional 1,743 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in Mplx by 5.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 130,956 shares of the pipeline company's stock valued at $6,268,000 after acquiring an additional 7,171 shares during the period. Counterpoint Mutual Funds LLC bought a new position in shares of Mplx during the fourth quarter worth $1,095,000. Finally, Axxcess Wealth Management LLC lifted its stake in Mplx by 11.2% in the fourth quarter. Axxcess Wealth Management LLC now owns 11,403 shares of the pipeline company's stock worth $546,000 after purchasing an additional 1,146 shares during the last quarter. 24.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on MPLX shares. Barclays restated an "overweight" rating and issued a $53.00 price objective (up from $52.00) on shares of Mplx in a research report on Friday. Royal Bank Of Canada boosted their target price on shares of Mplx from $55.00 to $58.00 and gave the company an "outperform" rating in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given 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 Stock Performance

Shares of MPLX stock traded up $0.29 during mid-day trading on Monday, reaching $50.95. The stock had a trading volume of 894,024 shares, compared to its average volume of 1,661,619. The company has a current ratio of 1.08, a quick ratio of 1.04 and a debt-to-equity ratio of 1.40. Mplx Lp has a 1-year low of $39.95 and a 1-year high of $54.87. The business's fifty day moving average is $50.98 and its 200-day moving average is $51.35. The firm has a market cap of $52.00 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 1.58 and a beta of 0.73.

Mplx (NYSE:MPLX - Get Free Report) last issued its quarterly 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. The firm had revenue of $2.89 billion for the quarter, compared to analysts' expectations of $3.15 billion. Mplx had a return on equity of 32.08% and a net margin of 36.34%. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 EPS. On average, research analysts forecast that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 9th were given a dividend of $0.9565 per share. This represents a $3.83 annualized dividend and a yield of 7.51%. The ex-dividend date of this dividend was Friday, May 9th. Mplx's payout ratio is 88.22%.

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.