PNC Financial Services Group Inc. lessened its position in Mplx Lp (NYSE:MPLX - Free Report) by 6.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 93,019 shares of the pipeline company's stock after selling 6,544 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Mplx were worth $4,978,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also added to or reduced their stakes in MPLX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Mplx by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,904,477 shares of the pipeline company's stock worth $330,448,000 after purchasing an additional 266,998 shares in the last quarter. Bramshill Investments LLC lifted its position in Mplx by 71.4% in the 4th quarter. Bramshill Investments LLC now owns 30,130 shares of the pipeline company's stock worth $1,442,000 after buying an additional 12,556 shares during the last quarter. Neuberger Berman Group LLC raised its stake in shares of Mplx by 221.9% during the fourth quarter. Neuberger Berman Group LLC now owns 643,995 shares of the pipeline company's stock worth $30,822,000 after acquiring an additional 443,910 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Mplx by 17.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 108,988 shares of the pipeline company's stock worth $5,833,000 after acquiring an additional 15,807 shares in the last quarter. Finally, Obermeyer Wealth Partners lifted its holdings in shares of Mplx by 18.4% in the 1st quarter. Obermeyer Wealth Partners now owns 35,181 shares of the pipeline company's stock worth $1,883,000 after acquiring an additional 5,476 shares during the last quarter. Hedge funds and other institutional investors own 24.25% of the company's stock.
Analysts Set New Price Targets
Several analysts have weighed in on MPLX shares. Wall Street Zen downgraded shares of Mplx from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Barclays boosted their price objective on Mplx from $52.00 to $53.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $55.63.
View Our Latest Analysis on MPLX
Mplx Price Performance
Shares of NYSE MPLX opened at $51.25 on Thursday. Mplx Lp has a 1 year low of $39.95 and a 1 year high of $54.87. The stock has a market capitalization of $52.31 billion, a P/E ratio of 12.17, a P/E/G ratio of 1.33 and a beta of 0.73. The company's 50-day moving average is $51.22 and its 200 day moving average is $51.61. 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 (NYSE:MPLX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The pipeline company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.05). Mplx had a net margin of 35.44% and a return on equity of 31.04%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the previous year, the firm posted $1.15 earnings per share. The business's revenue was down 1.6% compared to the same quarter last year. On average, sell-side analysts expect that Mplx Lp will post 4.41 earnings per share for the current year.
Mplx Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 8th will be given a dividend of $0.9565 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $3.83 annualized dividend and a yield of 7.5%. Mplx's dividend payout ratio (DPR) is currently 88.45%.
About Mplx
(
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.
See Also
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