BROOKFIELD Corp ON decreased its stake in Mplx Lp (NYSE:MPLX – Free Report) by 26.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,173,816 shares of the pipeline company’s stock after selling 786,014 shares during the period. Mplx accounts for about 0.2% of BROOKFIELD Corp ON’s holdings, making the stock its 20th biggest position. BROOKFIELD Corp ON owned about 0.21% of Mplx worth $124,060,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Morgan Stanley increased its stake in shares of Mplx by 23.7% during the 4th quarter. Morgan Stanley now owns 5,763,110 shares of the pipeline company’s stock worth $307,577,000 after purchasing an additional 1,104,510 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Mplx by 8.3% in the 2nd quarter. Bank of America Corp DE now owns 9,873,619 shares of the pipeline company’s stock worth $508,590,000 after purchasing an additional 757,569 shares during the period. Merewether Investment Management LP purchased a new position in Mplx in the second quarter valued at approximately $16,988,000. Corient Private Wealth LLC lifted its stake in Mplx by 98.9% in the fourth quarter. Corient Private Wealth LLC now owns 559,598 shares of the pipeline company’s stock valued at $29,698,000 after purchasing an additional 278,263 shares during the last quarter. Finally, Opal Capital LLC bought a new position in Mplx during the fourth quarter valued at $11,730,000. 24.25% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms have issued reports on MPLX. Wall Street Zen downgraded Mplx from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Wells Fargo & Company dropped their price target on Mplx from $63.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Barclays increased their price target on Mplx from $58.00 to $59.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. Zacks Research upgraded shares of Mplx from a “strong sell” rating to a “hold” rating in a research report on Friday, June 5th. Finally, Morgan Stanley cut their target price on shares of Mplx from $62.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.60.
Mplx Trading Up 0.2%
NYSE:MPLX opened at $58.74 on Monday. The company has a market cap of $59.61 billion, a P/E ratio of 12.72, a P/E/G ratio of 5.66 and a beta of 0.47. The stock’s fifty day moving average price is $56.47 and its two-hundred day moving average price is $56.39. Mplx Lp has a 1 year low of $47.80 and a 1 year high of $59.98. 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 (NYSE:MPLX – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.15). The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $3.09 billion. Mplx had a return on equity of 32.74% and a net margin of 36.38%.Mplx’s revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.10 earnings per share. As a group, analysts expect that Mplx Lp will post 4.19 EPS for the current year.
Mplx Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were paid a $1.0765 dividend. The ex-dividend date was Friday, May 8th. This represents a $4.31 annualized dividend and a yield of 7.3%. Mplx’s dividend payout ratio (DPR) is currently 93.29%.
Mplx Company Profile
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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