NEOS Investment Management LLC Has $27.38 Million Stock Position in Mplx Lp $MPLX

Key Points

• NEOS Investment Management increased its MPLX stake by 45.5% in the second quarter, adding 152,041 shares and bringing its total position to 486,025 shares valued at approximately $27.38 million.
• Analysts maintain a generally positive outlook, with MPLX receiving a consensus “Moderate Buy” rating and an average price target of $63.20, compared with the reported share price of $59.68.
• MPLX reported quarterly earnings of $1.06 per share and $3.13 billion in revenue, while declaring a quarterly dividend of $1.0765—an annualized yield of about 7.2%.

NEOS Investment Management LLC increased its stake in Mplx Lp (NYSE:MPLX - Free Report) by 45.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 486,025 shares of the pipeline company's stock after purchasing an additional 152,041 shares during the period. NEOS Investment Management LLC's holdings in Mplx were worth $27,378,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of MPLX. NewEdge Advisors LLC lifted its position in Mplx by 4.1% during the first quarter. NewEdge Advisors LLC now owns 24,049 shares of the pipeline company's stock worth $1,287,000 after purchasing an additional 939 shares during the period. Geode Capital Management LLC increased its holdings in Mplx by 6.6% in the 2nd quarter. Geode Capital Management LLC now owns 16,557 shares of the pipeline company's stock valued at $853,000 after buying an additional 1,021 shares during the period. Guggenheim Capital LLC increased its holdings in Mplx by 5.4% in the 2nd quarter. Guggenheim Capital LLC now owns 19,139 shares of the pipeline company's stock valued at $986,000 after buying an additional 972 shares during the period. Cerity Partners LLC raised its position in shares of Mplx by 12.5% in the 2nd quarter. Cerity Partners LLC now owns 53,113 shares of the pipeline company's stock valued at $2,736,000 after buying an additional 5,916 shares in the last quarter. Finally, Glenview Trust co raised its position in shares of Mplx by 62.5% in the 2nd quarter. Glenview Trust co now owns 6,500 shares of the pipeline company's stock valued at $335,000 after buying an additional 2,500 shares in the last quarter. Institutional investors and hedge funds own 24.25% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Barclays increased their price target on shares of Mplx from $59.00 to $63.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Zacks Research upgraded Mplx from a "strong sell" rating to a "hold" rating in a research note on Friday, June 5th. Wells Fargo & Company upped their target price on Mplx from $61.00 to $63.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. Morgan Stanley raised their target price on Mplx from $60.00 to $66.00 and gave the company an "equal weight" rating in a report on Wednesday, August 12th. Finally, Weiss Ratings reiterated a "buy (a-)" rating on shares of Mplx in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $63.20.

Mplx Stock Up 0.6%

Shares of NYSE MPLX opened at $59.68 on Friday. The company has a 50 day simple moving average of $58.22 and a 200 day simple moving average of $57.19. The firm has a market cap of $60.51 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 5.62 and a beta of 0.48. Mplx Lp has a 1 year low of $47.80 and a 1 year high of $60.95. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.89 and a quick ratio of 0.83.

Mplx (NYSE:MPLX - Get Free Report) last posted its earnings results on Tuesday, August 4th. The pipeline company reported $1.06 earnings per share for the quarter, hitting analysts' consensus estimates of $1.06. Mplx had a net margin of 35.75% and a return on equity of 32.83%. The firm had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the firm posted $1.03 EPS. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. On average, research analysts forecast that Mplx Lp will post 4.28 EPS for the current year.

Mplx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, August 7th were given a $1.0765 dividend. This represents a $4.31 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date was Friday, August 7th. Mplx's payout ratio is 92.69%.

Mplx 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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