TrueMark Investments LLC increased its holdings in shares of Mplx Lp (NYSE:MPLX – Free Report) by 6.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 231,817 shares of the pipeline company’s stock after acquiring an additional 13,785 shares during the quarter. Mplx makes up approximately 2.6% of TrueMark Investments LLC’s holdings, making the stock its 5th biggest holding. TrueMark Investments LLC’s holdings in Mplx were worth $13,230,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Invesco Ltd. boosted its stake in Mplx by 0.7% in the third quarter. Invesco Ltd. now owns 19,561,938 shares of the pipeline company’s stock valued at $977,119,000 after acquiring an additional 143,361 shares during the period. Bank of America Corp DE lifted 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Mplx by 4.4% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,060,024 shares of the pipeline company’s stock worth $352,648,000 after purchasing an additional 300,321 shares during the last quarter. Morgan Stanley boosted its position in Mplx by 23.7% during the 4th quarter. Morgan Stanley now owns 5,763,110 shares of the pipeline company’s stock valued at $307,577,000 after purchasing an additional 1,104,510 shares during the period. Finally, Energy Income Partners LLC boosted its position in Mplx by 2.1% during the 3rd quarter. Energy Income Partners LLC now owns 5,659,885 shares of the pipeline company’s stock valued at $282,711,000 after purchasing an additional 118,090 shares during the period. Institutional investors and hedge funds own 24.25% of the company’s stock.
Analyst Ratings Changes
MPLX has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on Mplx from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 10th. Weiss Ratings downgraded shares of Mplx from a “buy (a)” rating to a “buy (a-)” rating in a report on Monday, May 18th. The Goldman Sachs Group upped their price target on shares of Mplx from $55.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Barclays increased their price objective on shares of Mplx from $58.00 to $59.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Finally, Zacks Research upgraded shares of Mplx from a “strong sell” rating to a “hold” rating in a research report on Friday, June 5th. One investment 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $61.60.
Mplx Stock Performance
Shares of MPLX stock opened at $56.25 on Thursday. Mplx Lp has a 12-month low of $47.80 and a 12-month 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. The firm has a market capitalization of $57.08 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 5.53 and a beta of 0.48. The business has a 50 day simple moving average of $55.73 and a 200 day simple moving average of $55.97.
Mplx (NYSE:MPLX – Get Free Report) last announced its earnings results on Tuesday, May 5th. The pipeline company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.15). Mplx had a net margin of 36.38% and a return on equity of 32.74%. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the previous year, the firm earned $1.10 EPS. The firm’s revenue was down 2.8% on a year-over-year basis. On average, equities research analysts anticipate that Mplx Lp will post 4.22 EPS for the current year.
Mplx Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were paid a dividend of $1.0765 per share. This represents a $4.31 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date was Friday, May 8th. Mplx’s payout ratio is currently 93.29%.
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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