Jennison Associates LLC trimmed its position in shares of Mplx Lp (NYSE:MPLX – Free Report) by 18.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 545,070 shares of the pipeline company’s stock after selling 125,257 shares during the period. Jennison Associates LLC’s holdings in Mplx were worth $31,107,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Merit Financial Group LLC raised its position in Mplx by 126.0% during the 4th quarter. Merit Financial Group LLC now owns 43,234 shares of the pipeline company’s stock valued at $2,307,000 after purchasing an additional 24,107 shares during the last quarter. Miller Howard Investments Inc. NY increased its stake in shares of Mplx by 2.5% during the fourth quarter. Miller Howard Investments Inc. NY now owns 2,315,921 shares of the pipeline company’s stock valued at $123,601,000 after buying an additional 57,247 shares during the period. Fort Washington Investment Advisors Inc. OH raised its holdings in shares of Mplx by 286.1% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 76,557 shares of the pipeline company’s stock valued at $4,086,000 after acquiring an additional 56,729 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of Mplx by 7.9% during the fourth quarter. Clearbridge Investments LLC now owns 2,343,689 shares of the pipeline company’s stock valued at $125,083,000 after acquiring an additional 172,000 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in Mplx by 8.7% in the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,883,800 shares of the pipeline company’s stock worth $100,538,000 after acquiring an additional 150,000 shares during the period. 24.25% of the stock is owned by hedge funds and other institutional investors.
Mplx Stock Down 0.1%
Shares of Mplx stock opened at $56.98 on Tuesday. Mplx Lp has a 1 year low of $47.80 and a 1 year high of $59.98. The firm has a market cap of $57.82 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 5.49 and a beta of 0.47. The company has a 50-day moving average of $56.27 and a 200 day moving average of $56.28. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.10 and a quick ratio of 1.05.
Mplx Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were given a $1.0765 dividend. This represents a $4.31 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date of this dividend was Friday, May 8th. Mplx’s payout ratio is currently 93.29%.
Wall Street Analyst Weigh In
Several research firms recently weighed in on MPLX. Barclays lifted their price target on shares of Mplx from $58.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Wall Street Zen cut shares of Mplx from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Zacks Research raised shares of Mplx from a “strong sell” rating to a “hold” rating in a research note on Friday, June 5th. Royal Bank Of Canada reiterated an “outperform” rating and set a $60.00 price target on shares of Mplx in a research report on Thursday, July 2nd. Finally, Truist Financial decreased their price target on shares of Mplx from $67.00 to $66.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.60.
Get Our Latest Stock Report on MPLX
About Mplx
MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.
The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.
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