Oppenheimer & Co. Inc. cut its holdings in shares of Mplx Lp (NYSE:MPLX) by 5.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,882 shares of the pipeline company’s stock after selling 1,369 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Mplx were worth $781,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Homrich & Berg increased its stake in shares of Mplx by 11.8% in the second quarter. Homrich & Berg now owns 13,214 shares of the pipeline company’s stock worth $451,000 after buying an additional 1,392 shares during the period. Stephens Inc. AR increased its stake in shares of Mplx by 3.4% in the first quarter. Stephens Inc. AR now owns 52,330 shares of the pipeline company’s stock worth $1,729,000 after buying an additional 1,722 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Mplx by 4.2% in the first quarter. Commonwealth Equity Services LLC now owns 46,754 shares of the pipeline company’s stock worth $1,544,000 after buying an additional 1,874 shares during the period. Private Capital Advisors Inc. increased its stake in shares of Mplx by 1.2% in the second quarter. Private Capital Advisors Inc. now owns 160,641 shares of the pipeline company’s stock worth $5,484,000 after buying an additional 1,886 shares during the period. Finally, Fiera Capital Corp increased its stake in shares of Mplx by 19.1% in the first quarter. Fiera Capital Corp now owns 11,961 shares of the pipeline company’s stock worth $395,000 after buying an additional 1,919 shares during the period. 31.22% of the stock is currently owned by hedge funds and other institutional investors.
MPLX stock opened at $36.03 on Friday. Mplx Lp has a 1-year low of $31.60 and a 1-year high of $39.38. The company has a quick ratio of 0.55, a current ratio of 0.61 and a debt-to-equity ratio of 1.71. The company has a market capitalization of $28.86 billion, a price-to-earnings ratio of 33.99, a price-to-earnings-growth ratio of 2.62 and a beta of 1.38.
Mplx (NYSE:MPLX) last posted its quarterly earnings results on Thursday, July 26th. The pipeline company reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.02). Mplx had a return on equity of 14.43% and a net margin of 24.22%. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the company earned $0.26 earnings per share. The company’s revenue for the quarter was up 72.3% compared to the same quarter last year. sell-side analysts expect that Mplx Lp will post 2.32 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 paid a $0.627 dividend. This represents a $2.51 annualized dividend and a yield of 6.96%. This is an increase from Mplx’s previous quarterly dividend of $0.44. The ex-dividend date was Friday, August 3rd. Mplx’s dividend payout ratio is presently 236.79%.
Several research analysts recently commented on the stock. Zacks Investment Research raised shares of Mplx from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Wednesday, June 27th. ValuEngine cut shares of Mplx from a “sell” rating to a “strong sell” rating in a research note on Monday, July 2nd. Jefferies Financial Group upgraded shares of Mplx from a “hold” rating to a “buy” rating in a research note on Wednesday, July 18th. Finally, Stifel Nicolaus upped their price target on shares of Mplx from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, July 27th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the stock. Mplx currently has a consensus rating of “Buy” and a consensus target price of $41.23.
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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