Bank of America Corp DE increased its holdings in shares of Mplx Lp (NYSE:MPLX – Get Rating) by 19.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,397,878 shares of the pipeline company's stock after buying an additional 2,389,661 shares during the period. Bank of America Corp DE owned 1.42% of Mplx worth $477,722,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Chicago Partners Investment Group LLC raised its stake in shares of Mplx by 2.7% during the first quarter. Chicago Partners Investment Group LLC now owns 406,134 shares of the pipeline company's stock worth $12,537,000 after buying an additional 10,776 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Mplx by 610.5% in the first quarter. BNP Paribas Arbitrage SA now owns 969,330 shares of the pipeline company's stock valued at $32,162,000 after purchasing an additional 832,907 shares in the last quarter. Avalon Investment & Advisory increased its stake in Mplx by 65.6% in the first quarter. Avalon Investment & Advisory now owns 43,594 shares of the pipeline company's stock valued at $1,446,000 after purchasing an additional 17,268 shares in the last quarter. Progeny 3 Inc. increased its stake in Mplx by 131.4% in the first quarter. Progeny 3 Inc. now owns 710,122 shares of the pipeline company's stock valued at $23,562,000 after purchasing an additional 403,285 shares in the last quarter. Finally, Donoghue Forlines LLC increased its stake in Mplx by 28.9% in the first quarter. Donoghue Forlines LLC now owns 37,239 shares of the pipeline company's stock valued at $1,236,000 after purchasing an additional 8,355 shares in the last quarter. 23.62% of the stock is owned by institutional investors.
Get Mplx alerts:Analyst Ratings Changes
Several equities research analysts have commented on the stock. US Capital Advisors downgraded shares of Mplx from an "overweight" rating to a "hold" rating in a research note on Tuesday, July 26th. UBS Group lowered their price objective on shares of Mplx from $41.00 to $40.00 and set a "buy" rating for the company in a research report on Friday, July 8th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $38.14.
Mplx Stock Performance
Shares of MPLX stock opened at $32.49 on Monday. The stock has a market cap of $32.89 billion, a P/E ratio of 10.38 and a beta of 1.52. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.74 and a quick ratio of 0.68. The company has a fifty day moving average price of $31.89 and a two-hundred day moving average price of $31.96. Mplx Lp has a one year low of $27.43 and a one year high of $35.49.Mplx (NYSE:MPLX – Get Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The pipeline company reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.02. The firm had revenue of $2.94 billion during the quarter, compared to analysts' expectations of $2.59 billion. Mplx had a net margin of 30.73% and a return on equity of 28.66%. The company's revenue for the quarter was up 22.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.66 earnings per share. As a group, equities analysts predict that Mplx Lp will post 3.28 EPS for the current year.
Mplx Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Friday, August 5th were paid a $0.705 dividend. This represents a $2.82 dividend on an annualized basis and a yield of 8.68%. The ex-dividend date was Thursday, August 4th. Mplx's dividend payout ratio is currently 90.10%.
About Mplx
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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.
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