KMG Fiduciary Partners LLC grew its holdings in shares of Mplx Lp (NYSE:MPLX – Get Rating) by 39.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 40,018 shares of the pipeline company's stock after acquiring an additional 11,298 shares during the quarter. KMG Fiduciary Partners LLC's holdings in Mplx were worth $1,167,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Goldman Sachs Group Inc. increased its position in shares of Mplx by 1.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 14,475,655 shares of the pipeline company's stock valued at $428,335,000 after purchasing an additional 170,707 shares during the period. Bank of America Corp DE lifted its holdings in Mplx by 19.9% in the 1st quarter. Bank of America Corp DE now owns 14,397,878 shares of the pipeline company's stock valued at $477,722,000 after acquiring an additional 2,389,661 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its position in shares of Mplx by 3.1% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 7,702,135 shares of the pipeline company's stock valued at $255,557,000 after purchasing an additional 231,038 shares in the last quarter. UBS Group AG boosted its position in shares of Mplx by 8.9% during the 1st quarter. UBS Group AG now owns 5,268,946 shares of the pipeline company's stock valued at $174,824,000 after purchasing an additional 430,063 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of Mplx by 6.5% in the 1st quarter. Clearbridge Investments LLC now owns 5,266,977 shares of the pipeline company's stock worth $174,758,000 after purchasing an additional 319,502 shares during the last quarter. Institutional investors own 23.62% of the company's stock.
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Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on MPLX shares. UBS Group reduced their target price on Mplx from $41.00 to $40.00 and set a "buy" rating for the company in a report on Friday, July 8th. US Capital Advisors cut shares of Mplx from an "overweight" rating to a "hold" rating in a report on Tuesday, July 26th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.14.
Mplx Stock Performance
Shares of Mplx stock traded down $0.57 on Wednesday, reaching $31.84. The stock had a trading volume of 102,240 shares, compared to its average volume of 1,201,358. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.68 and a current ratio of 0.74. The business's 50-day moving average price is $32.02 and its two-hundred day moving average price is $31.96. The stock has a market cap of $32.23 billion, a P/E ratio of 10.32 and a beta of 1.52. Mplx Lp has a fifty-two week low of $27.47 and a fifty-two week high of $35.49.
Mplx (NYSE:MPLX – Get Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The pipeline company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.81 by $0.02. Mplx had a return on equity of 28.66% and a net margin of 30.73%. The company had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.59 billion. During the same period in the previous year, the business posted $0.66 EPS. The company's revenue for the quarter was up 22.8% on a year-over-year basis. On average, sell-side analysts forecast that Mplx Lp will post 3.28 EPS for the current year.
Mplx Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, August 5th were paid a $0.705 dividend. The ex-dividend date was Thursday, August 4th. This represents a $2.82 dividend on an annualized basis and a dividend yield of 8.86%. Mplx's payout ratio is 90.10%.
Mplx Profile
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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.
Further Reading
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