Cambridge Investment Research Advisors Inc. raised its position in MPLX LP (NYSE:MPLX) by 2.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 13,831 shares of the pipeline company’s stock after purchasing an additional 390 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in MPLX were worth $462,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Waldron LP bought a new stake in shares of MPLX in the 1st quarter valued at $220,000. Advisors Asset Management Inc. bought a new stake in shares of MPLX in the 1st quarter valued at $771,000. US Bancorp DE increased its stake in shares of MPLX by 50.8% in the 1st quarter. US Bancorp DE now owns 70,802 shares of the pipeline company’s stock valued at $2,555,000 after acquiring an additional 23,850 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of MPLX by 45.4% in the 1st quarter. Bank of New York Mellon Corp now owns 171,047 shares of the pipeline company’s stock valued at $6,172,000 after acquiring an additional 53,438 shares in the last quarter. Finally, Suntrust Banks Inc. increased its stake in shares of MPLX by 4.9% in the 1st quarter. Suntrust Banks Inc. now owns 8,016 shares of the pipeline company’s stock valued at $289,000 after acquiring an additional 378 shares in the last quarter. Hedge funds and other institutional investors own 66.17% of the company’s stock.
Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of MPLX from a “sell” rating to a “hold” rating in a research note on Thursday, May 18th. BidaskClub lowered shares of MPLX from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Royal Bank Of Canada restated a “buy” rating on shares of MPLX in a research note on Friday, July 28th. Scotiabank set a $44.00 price target on shares of MPLX and gave the company a “buy” rating in a research note on Saturday, July 22nd. Finally, Guggenheim assumed coverage on shares of MPLX in a research note on Thursday, July 20th. They set a “buy” rating and a $40.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $42.25.
Shares of MPLX LP (NYSE MPLX) opened at 34.27 on Wednesday. The firm’s 50-day moving average is $34.37 and its 200 day moving average is $34.89. MPLX LP has a 12-month low of $30.09 and a 12-month high of $39.43. The stock has a market capitalization of $13.31 billion, a P/E ratio of 40.94 and a beta of 1.36.
MPLX (NYSE:MPLX) last announced its earnings results on Thursday, July 27th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.10. The business had revenue of $916.00 million for 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 business’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same period last year, the firm posted ($0.11) earnings per share. On average, equities research analysts forecast that MPLX LP will post $0.96 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, August 7th were given a dividend of $0.5625 per share. 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 dividend yield of 6.57%. The ex-dividend date was Thursday, August 3rd. MPLX’s payout ratio is presently 271.09%.
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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