Wambolt & Associates LLC lifted its stake in Mplx Lp (NYSE:MPLX) by 22.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,810 shares of the pipeline company’s stock after purchasing an additional 2,369 shares during the quarter. Wambolt & Associates LLC’s holdings in Mplx were worth $418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently bought and sold shares of MPLX. Tortoise Capital Advisors L.L.C. raised its holdings in Mplx by 4.7% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 28,187,706 shares of the pipeline company’s stock valued at $977,550,000 after buying an additional 1,269,600 shares during the period. Alps Advisors Inc. raised its holdings in Mplx by 7.1% during the 4th quarter. Alps Advisors Inc. now owns 27,228,906 shares of the pipeline company’s stock valued at $825,036,000 after buying an additional 1,802,231 shares during the period. Harvest Fund Advisors LLC raised its holdings in Mplx by 0.3% during the 4th quarter. Harvest Fund Advisors LLC now owns 11,051,765 shares of the pipeline company’s stock valued at $334,868,000 after buying an additional 28,468 shares during the period. Bank of America Corp DE raised its holdings in Mplx by 35.0% during the 4th quarter. Bank of America Corp DE now owns 8,130,335 shares of the pipeline company’s stock valued at $246,348,000 after buying an additional 2,109,283 shares during the period. Finally, Brookfield Asset Management Inc. raised its holdings in Mplx by 2.0% during the 3rd quarter. Brookfield Asset Management Inc. now owns 7,377,931 shares of the pipeline company’s stock valued at $255,867,000 after buying an additional 145,400 shares during the period. 30.91% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently weighed in on MPLX shares. Barclays restated a “buy” rating and set a $38.00 price target on shares of Mplx in a report on Wednesday, March 13th. Zacks Investment Research upgraded Mplx from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research note on Wednesday, February 6th. ValuEngine upgraded Mplx from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th. Raymond James lowered Mplx from a “strong-buy” rating to an “outperform” rating in a research note on Tuesday, April 16th. Finally, Credit Suisse Group reduced their target price on Mplx from $44.00 to $39.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $39.63.
Mplx (NYSE:MPLX) last issued its quarterly earnings data on Thursday, February 7th. The pipeline company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.16). Mplx had a net margin of 28.30% and a return on equity of 26.21%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the business earned $0.31 EPS. Mplx’s revenue for the quarter was up 58.1% compared to the same quarter last year. On average, equities analysts expect that Mplx Lp will post 2.44 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, May 9th will be given a dividend of $0.6575 per share. The ex-dividend date is Wednesday, May 8th. This represents a $2.63 dividend on an annualized basis and a yield of 8.17%. This is an increase from Mplx’s previous quarterly dividend of $0.65. Mplx’s dividend payout ratio (DPR) is presently 113.10%.
MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. The company also provides fuels distribution services. 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, storage, and marketing of natural gas liquids; and transportation, storage, and distribution of crude oil and refined petroleum products.
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