Keybank National Association OH grew its holdings in shares of Mplx Lp (NYSE:MPLX) by 34.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,100 shares of the pipeline company’s stock after purchasing an additional 3,120 shares during the period. Keybank National Association OH’s holdings in Mplx Lp were worth $424,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MPLX. Optimum Investment Advisors boosted its stake in shares of Mplx Lp by 0.3% during the 2nd quarter. Optimum Investment Advisors now owns 7,654 shares of the pipeline company’s stock worth $256,000 after acquiring an additional 21 shares in the last quarter. CNH Partners LLC boosted its stake in shares of Mplx Lp by 0.4% during the 2nd quarter. CNH Partners LLC now owns 23,115 shares of the pipeline company’s stock worth $772,000 after acquiring an additional 100 shares in the last quarter. M&T Bank Corp boosted its stake in shares of Mplx Lp by 0.3% during the 2nd quarter. M&T Bank Corp now owns 59,573 shares of the pipeline company’s stock worth $1,990,000 after acquiring an additional 166 shares in the last quarter. Advisory Services Network LLC boosted its stake in shares of Mplx Lp by 2.3% during the 2nd quarter. Advisory Services Network LLC now owns 9,363 shares of the pipeline company’s stock worth $313,000 after acquiring an additional 213 shares in the last quarter. Finally, BB&T Securities LLC boosted its stake in shares of Mplx Lp by 6.2% during the 2nd quarter. BB&T Securities LLC now owns 6,209 shares of the pipeline company’s stock worth $207,000 after acquiring an additional 360 shares in the last quarter. Institutional investors own 62.86% of the company’s stock.
Shares of Mplx Lp (MPLX) opened at $34.47 on Friday. Mplx Lp has a 52 week low of $30.88 and a 52 week high of $39.43. The company has a quick ratio of 0.48, a current ratio of 0.54 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $14,300.00, a P/E ratio of 37.06, a P/E/G ratio of 4.79 and a beta of 1.37.
Mplx Lp (NYSE:MPLX) last posted its earnings results on Thursday, October 26th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. Mplx Lp had a return on equity of 5.87% and a net margin of 16.79%. The firm had revenue of $980.00 million for the quarter, compared to analyst estimates of $965.07 million. During the same quarter in the prior year, the company earned $0.21 EPS. Mplx Lp’s revenue was up 16.9% on a year-over-year basis. equities analysts forecast that Mplx Lp will post 1.01 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Monday, November 6th were issued a $0.5875 dividend. The ex-dividend date was Friday, November 3rd. This is an increase from Mplx Lp’s previous quarterly dividend of $0.56. This represents a $2.35 annualized dividend and a yield of 6.82%. Mplx Lp’s payout ratio is 258.24%.
In other Mplx Lp news, VP C Corwin Bromley sold 2,500 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $34.50, for a total value of $86,250.00. Following the completion of the transaction, the vice president now directly owns 123,705 shares in the company, valued at approximately $4,267,822.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 8,000 shares of company stock valued at $276,910 over the last quarter.
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Several equities research analysts have recently commented on MPLX shares. BidaskClub lowered Mplx Lp from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. Zacks Investment Research lowered Mplx Lp from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Stifel Nicolaus reissued a “buy” rating and set a $42.00 price target (down previously from $43.00) on shares of Mplx Lp in a research note on Tuesday, September 5th. Barclays PLC reissued a “buy” rating and set a $39.00 price target on shares of Mplx Lp in a research note on Thursday, October 19th. Finally, Scotiabank set a $44.00 price target on Mplx Lp and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $41.67.
Mplx Lp Profile
MPLX LP is a master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets. The Company is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids (NGLs), and the gathering, transportation and storage of crude oil and refined petroleum products.
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