BNP Paribas Arbitrage SA trimmed its holdings in shares of Mplx Lp (NYSE:MPLX) by 69.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,536 shares of the pipeline company’s stock after selling 22,115 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Mplx were worth $326,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Karpas Strategies LLC boosted its holdings in shares of Mplx by 4.5% in the 2nd quarter. Karpas Strategies LLC now owns 58,823 shares of the pipeline company’s stock valued at $2,008,000 after buying an additional 2,552 shares during the last quarter. Perella Weinberg Partners Capital Management LP boosted its holdings in shares of Mplx by 37.0% in the 2nd quarter. Perella Weinberg Partners Capital Management LP now owns 758,386 shares of the pipeline company’s stock valued at $25,891,000 after buying an additional 204,632 shares during the last quarter. Schmidt P J Investment Management Inc. acquired a new stake in shares of Mplx in the 2nd quarter valued at approximately $205,000. Baldwin Brothers Inc. MA boosted its holdings in shares of Mplx by 80.4% in the 2nd quarter. Baldwin Brothers Inc. MA now owns 23,080 shares of the pipeline company’s stock valued at $788,000 after buying an additional 10,284 shares during the last quarter. Finally, Colorado Capital Management Inc. acquired a new stake in shares of Mplx in the 2nd quarter valued at approximately $217,000. 30.92% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on the company. ValuEngine raised Mplx from a “strong sell” rating to a “sell” rating in a report on Thursday, July 26th. Stifel Nicolaus increased their price objective on Mplx from $42.00 to $44.00 and gave the company a “buy” rating in a report on Friday, July 27th. Jefferies Financial Group raised Mplx from a “hold” rating to a “buy” rating in a report on Wednesday, July 18th. Finally, Zacks Investment Research raised Mplx from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Wednesday, June 27th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $41.23.
Shares of Mplx stock opened at $37.32 on Monday. Mplx Lp has a 1 year low of $31.60 and a 1 year high of $39.38. The firm has a market cap of $30.26 billion, a price-to-earnings ratio of 35.21, a price-to-earnings-growth ratio of 2.70 and a beta of 1.36. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.61 and a quick ratio of 0.55.
Mplx (NYSE:MPLX) last announced its quarterly earnings results on Thursday, July 26th. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.02). Mplx had a net margin of 24.22% and a return on equity of 14.43%. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the business earned $0.26 EPS. The company’s revenue for the quarter was up 72.3% compared to the same quarter last year. sell-side analysts forecast that Mplx Lp will post 2.35 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 14th. Shareholders of record on Monday, August 6th were issued a dividend of $0.627 per share. This is an increase from Mplx’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Friday, August 3rd. This represents a $2.51 annualized dividend and a yield of 6.72%. Mplx’s dividend payout ratio (DPR) is currently 236.79%.
Mplx Company Profile
MPLX LP owns, operates, develops, and acquires midstream energy infrastructure assets. It operates in two segments, Logistics and Storage, and Gathering and Processing segments. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids (NGLs); and gathering, transportation, and storage of crude oil and refined petroleum products.
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