Oppenheimer Asset Management Inc. Has $896,000 Stock Holdings in Mplx Lp (NYSE:MPLX)

Posted by on Aug 27th, 2023

Oppenheimer Asset Management Inc. cut its holdings in Mplx Lp (NYSE:MPLX – Free Report) by 10.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,995 shares of the pipeline company’s stock after selling 2,885 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Mplx were worth $896,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MPLX. PSI Advisors LLC increased its holdings in shares of Mplx by 61.8% during the 1st quarter. PSI Advisors LLC now owns 890 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 340 shares during the last quarter. GPS Wealth Strategies Group LLC acquired a new position in Mplx during the 1st quarter worth $35,000. Compass Wealth Management LLC acquired a new position in Mplx during the 4th quarter worth $41,000. Private Trust Co. NA acquired a new position in Mplx during the 1st quarter worth $48,000. Finally, Fortis Capital Advisors LLC acquired a new position in Mplx during the 4th quarter worth $50,000. 22.89% of the stock is currently owned by institutional investors and hedge funds.

Mplx Stock Performance

Mplx stock opened at $34.93 on Friday. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.76 and a quick ratio of 1.65. The stock has a fifty day moving average price of $34.61 and a two-hundred day moving average price of $34.43. Mplx Lp has a 52-week low of $28.56 and a 52-week high of $35.85. The firm has a market capitalization of $34.97 billion, a P/E ratio of 8.82 and a beta of 1.41.

Mplx (NYSE:MPLX – Get Free Report) last announced its earnings results on Tuesday, August 1st. The pipeline company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.86 by $0.05. Mplx had a return on equity of 30.78% and a net margin of 35.93%. The business had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the previous year, the business earned $0.83 EPS. Mplx’s revenue was down 8.5% compared to the same quarter last year. As a group, analysts anticipate that Mplx Lp will post 3.6 EPS for the current fiscal year.

Mplx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Friday, August 4th were issued a $0.775 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $3.10 dividend on an annualized basis and a dividend yield of 8.87%. Mplx’s dividend payout ratio is 78.28%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MPLX. Raymond James boosted their target price on shares of Mplx from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, July 21st. StockNews.com started coverage on shares of Mplx in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Stifel Nicolaus raised their price objective on shares of Mplx from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, August 16th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $42.00 price objective on shares of Mplx in a research note on Thursday, July 20th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $39.11.

Get Our Latest Stock Analysis on Mplx

Mplx Profile

(Free Report)

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, exchange, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products; and sale of residue gas and condensate.

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Institutional Ownership by Quarter for Mplx (NYSE:MPLX)

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