Oppenheimer & Co. Inc. Cuts Stock Position in Mplx Lp (NYSE:MPLX)

Oppenheimer & Co. Inc. reduced its position in Mplx Lp (NYSE:MPLX - Free Report) by 85.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,960 shares of the pipeline company's stock after selling 160,097 shares during the period. Oppenheimer & Co. Inc.'s holdings in Mplx were worth $1,496,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MPLX. CFO4Life Group LLC lifted its holdings in shares of Mplx by 1.1% during the 4th quarter. CFO4Life Group LLC now owns 19,200 shares of the pipeline company's stock valued at $919,000 after purchasing an additional 200 shares during the last quarter. RE Dickinson Investment Advisors LLC raised its stake in Mplx by 11.5% in the 4th quarter. RE Dickinson Investment Advisors LLC now owns 2,017 shares of the pipeline company's stock worth $96,000 after acquiring an additional 208 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its stake in Mplx by 1.1% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 21,520 shares of the pipeline company's stock worth $1,030,000 after acquiring an additional 231 shares during the last quarter. Cherry Creek Investment Advisors Inc. raised its stake in shares of Mplx by 1.8% during the 1st quarter. Cherry Creek Investment Advisors Inc. now owns 14,743 shares of the pipeline company's stock valued at $789,000 after buying an additional 254 shares during the last quarter. Finally, PSI Advisors LLC raised its stake in shares of Mplx by 32.5% during the 1st quarter. PSI Advisors LLC now owns 1,100 shares of the pipeline company's stock valued at $59,000 after buying an additional 270 shares during the last quarter. 24.25% of the stock is currently owned by institutional investors.

Mplx Stock Performance

NYSE MPLX opened at $51.59 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 1.04. Mplx Lp has a 1 year low of $39.95 and a 1 year high of $54.87. The company has a market capitalization of $52.66 billion, a PE ratio of 11.91, a P/E/G ratio of 1.59 and a beta of 0.74. The company has a fifty day moving average of $51.10 and a two-hundred day moving average of $51.08.

Mplx (NYSE:MPLX - Get Free Report) last released its quarterly earnings data 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 36.34% and a return on equity of 32.08%. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Mplx's revenue for the quarter was up 9.8% on a year-over-year basis. As a group, analysts expect that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 9th were issued a dividend of $0.9565 per share. The ex-dividend date was Friday, May 9th. This represents a $3.83 annualized dividend and a yield of 7.42%. Mplx's dividend payout ratio is currently 88.45%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on MPLX shares. Royal Bank Of Canada raised their target price on Mplx from $55.00 to $58.00 and gave the company an "outperform" rating in a research report on Monday, March 17th. Wall Street Zen cut Mplx from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 2nd. Morgan Stanley upped their target price on Mplx from $56.00 to $62.00 and gave the company an "equal weight" rating in a report on Tuesday, March 11th. Finally, Barclays reduced their price target on shares of Mplx from $55.00 to $52.00 and set an "overweight" rating on the stock in a research report on Monday, May 12th. One 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's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $55.50.

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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