MPLX LP (NYSE:MPLX) Shares Acquired by Neuberger Berman Group LLC

Key Points

• Neuberger Berman Group LLC increased its stake in Mplx LP by 54.8% during the first quarter, owning approximately 0.10% of the company worth $53.3 million after acquiring 352,782 shares.
• Mplx's latest earnings report showed an earnings per share of $1.03, missing analysts' estimates, with a revenue of $2.79 billion compared to a consensus estimate of $3.13 billion.
• The company declared a quarterly dividend of $0.9565 per share, indicating an annualized dividend yield of 7.7% and a payout ratio of 90.97%.

Neuberger Berman Group LLC lifted its stake in MPLX LP (NYSE:MPLX - Free Report) by 54.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 996,777 shares of the pipeline company's stock after purchasing an additional 352,782 shares during the period. Neuberger Berman Group LLC owned 0.10% of MPLX worth $53,348,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Rossby Financial LCC purchased a new stake in MPLX in the 1st quarter worth $33,000. JFS Wealth Advisors LLC purchased a new stake in MPLX in the 1st quarter worth $37,000. MorganRosel Wealth Management LLC purchased a new stake in MPLX in the 1st quarter worth $48,000. PSI Advisors LLC increased its stake in MPLX by 32.5% in the 1st quarter. PSI Advisors LLC now owns 1,100 shares of the pipeline company's stock worth $59,000 after buying an additional 270 shares in the last quarter. Finally, Private Trust Co. NA purchased a new stake in MPLX in the 1st quarter worth $65,000. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

MPLX Stock Down 0.3%

MPLX stock traded down $0.14 during trading on Friday, hitting $50.02. 2,088,463 shares of the company's stock traded hands, compared to its average volume of 1,517,815. The firm has a market capitalization of $51.06 billion, a P/E ratio of 11.88, a PEG ratio of 1.32 and a beta of 0.73. The business has a fifty day simple moving average of $51.08 and a two-hundred day simple moving average of $51.54. The company has a quick ratio of 0.97, a current ratio of 1.03 and a debt-to-equity ratio of 1.40. MPLX LP has a 1 year low of $41.80 and a 1 year high of $54.87.

MPLX (NYSE:MPLX - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The pipeline company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.05). MPLX had a return on equity of 30.95% and a net margin of 35.44%. The firm had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $3.13 billion. During the same period in the prior year, the firm posted $1.15 earnings per share. MPLX's revenue for the quarter was down 1.6% compared to the same quarter last year. Sell-side analysts anticipate that MPLX LP will post 4.41 EPS for the current year.

MPLX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 8th were issued a $0.9565 dividend. This represents a $3.83 annualized dividend and a yield of 7.6%. The ex-dividend date of this dividend was Friday, August 8th. MPLX's payout ratio is currently 90.97%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Stifel Nicolaus increased their price target on MPLX from $57.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday. Wall Street Zen downgraded shares of MPLX from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Barclays increased their price target on shares of MPLX from $52.00 to $53.00 and gave the company an "overweight" rating in a report on Friday, July 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.11.

MPLX 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.