Duff & Phelps Investment Management Co. boosted its stake in shares of MPLX LP (NYSE:MPLX) by 0.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,564,430 shares of the pipeline company’s stock after buying an additional 500 shares during the period. Duff & Phelps Investment Management Co. owned 0.42% of MPLX worth $52,252,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in MPLX. Bollard Group LLC raised its position in shares of MPLX by 5.7% in the first quarter. Bollard Group LLC now owns 47,713 shares of the pipeline company’s stock valued at $1,721,000 after buying an additional 2,562 shares in the last quarter. Naples Global Advisors LLC raised its position in shares of MPLX by 14.4% in the first quarter. Naples Global Advisors LLC now owns 10,300 shares of the pipeline company’s stock valued at $372,000 after buying an additional 1,300 shares in the last quarter. Hollencrest Securities LLC purchased a new position in shares of MPLX during the first quarter valued at approximately $480,000. Waldron LP purchased a new position in shares of MPLX during the first quarter valued at approximately $220,000. Finally, Chickasaw Capital Management LLC raised its position in shares of MPLX by 1.7% in the first quarter. Chickasaw Capital Management LLC now owns 3,036,557 shares of the pipeline company’s stock valued at $109,559,000 after buying an additional 50,077 shares in the last quarter. 69.59% of the stock is owned by institutional investors and hedge funds.
Shares of MPLX LP (MPLX) opened at 33.35 on Friday. MPLX LP has a 12-month low of $30.09 and a 12-month high of $39.43. The company has a market capitalization of $12.96 billion, a P/E ratio of 39.84 and a beta of 1.35. The company has a 50-day moving average price of $34.67 and a 200 day moving average price of $35.58.
MPLX (NYSE:MPLX) last issued its quarterly earnings data on Thursday, July 27th. The pipeline company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.10. The firm had revenue of $916 million during the quarter, compared to analysts’ expectations of $884.70 million. MPLX had a return on equity of 6.13% and a net margin of 19.07%. The firm’s quarterly revenue was up 31.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.11) EPS. On average, equities analysts anticipate that MPLX LP will post $0.97 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be paid a $0.5625 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This is a boost from MPLX’s previous quarterly dividend of $0.44. This represents a $2.25 dividend on an annualized basis and a yield of 6.75%. MPLX’s dividend payout ratio (DPR) is 271.09%.
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MPLX has been the subject of several recent research reports. Jefferies Group LLC reissued a “buy” rating and set a $44.00 price objective on shares of MPLX in a research report on Wednesday, April 19th. TheStreet raised MPLX from a “c” rating to a “b-” rating in a research report on Friday, April 28th. Zacks Investment Research lowered MPLX from a “hold” rating to a “sell” rating in a research report on Friday, May 12th. BidaskClub raised MPLX from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Finally, Guggenheim initiated coverage on MPLX in a research report on Thursday, July 20th. They issued a “buy” rating and a $40.00 price target for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. MPLX has a consensus rating of “Buy” and an average target price of $42.55.
In other MPLX news, CEO Gary R. Heminger purchased 9,000 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was bought at an average cost of $33.26 per share, for a total transaction of $299,340.00. Following the completion of the purchase, the chief executive officer now owns 167,896 shares in the company, valued at approximately $5,584,220.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
MPLX Company 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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