Pacer Advisors Inc. increased its stake in Mplx Lp (NYSE:MPLX – Free Report) by 62.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 58,763 shares of the pipeline company’s stock after purchasing an additional 22,487 shares during the period. Pacer Advisors Inc.’s holdings in Mplx were worth $1,994,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Stratos Wealth Partners LTD. lifted its position in shares of Mplx by 13.4% during the 1st quarter. Stratos Wealth Partners LTD. now owns 36,289 shares of the pipeline company’s stock worth $1,250,000 after buying an additional 4,302 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Mplx by 1.4% during the 1st quarter. HighTower Advisors LLC now owns 492,817 shares of the pipeline company’s stock valued at $16,977,000 after purchasing an additional 6,858 shares during the last quarter. Avantax Advisory Services Inc. grew its holdings in shares of Mplx by 4.3% during the 1st quarter. Avantax Advisory Services Inc. now owns 8,344 shares of the pipeline company’s stock valued at $287,000 after purchasing an additional 342 shares during the last quarter. Maryland State Retirement & Pension System lifted its stake in Mplx by 2.9% in the 2nd quarter. Maryland State Retirement & Pension System now owns 380,671 shares of the pipeline company’s stock valued at $12,920,000 after purchasing an additional 10,705 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its position in Mplx by 1,177.5% in the first quarter. Global Retirement Partners LLC now owns 2,555 shares of the pipeline company’s stock valued at $89,000 after buying an additional 2,355 shares in the last quarter. Institutional investors own 22.43% of the company’s stock.
Analyst Ratings Changes
Several brokerages have recently issued reports on MPLX. Morgan Stanley reiterated an “equal weight” rating and set a $42.00 price target on shares of Mplx in a report on Thursday, July 20th. StockNews.com assumed coverage on Mplx in a research report on Thursday, August 17th. They issued a “buy” rating for the company. Raymond James boosted their price target on Mplx from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, July 21st. Finally, Stifel Nicolaus lifted their target price on shares of Mplx from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Mplx has a consensus rating of “Hold” and an average target price of $39.11.
Mplx Stock Up 0.7 %
Shares of Mplx stock opened at $35.28 on Tuesday. The firm has a market cap of $35.32 billion, a price-to-earnings ratio of 8.91 and a beta of 1.41. The stock’s 50-day moving average is $34.94 and its 200 day moving average is $34.45. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.76 and a quick ratio of 1.65. Mplx Lp has a one year low of $28.56 and a one year high of $35.85.
Mplx (NYSE:MPLX – Get Free Report) last announced its quarterly earnings data 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 net margin of 35.93% and a return on equity of 30.78%. The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter last year, the firm posted $0.83 EPS. The company’s quarterly revenue was down 8.5% on a year-over-year basis. Equities research analysts anticipate that Mplx Lp will post 3.65 EPS for the current year.
Mplx Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Friday, August 4th were given a dividend of $0.775 per share. The ex-dividend date was Thursday, August 3rd. This represents a $3.10 dividend on an annualized basis and a dividend yield of 8.79%. Mplx’s dividend payout ratio (DPR) is presently 78.28%.
About Mplx
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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