Dividend Assets Capital LLC reduced its position in Mplx Lp (NYSE:MPLX – Get Rating) by 2.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,363 shares of the pipeline company's stock after selling 1,957 shares during the quarter. Dividend Assets Capital LLC's holdings in Mplx were worth $2,634,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Private Advisor Group LLC purchased a new stake in Mplx in the fourth quarter valued at approximately $254,000. Goldman Sachs Group Inc. increased its stake in shares of Mplx by 1.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 14,475,655 shares of the pipeline company's stock worth $428,335,000 after acquiring an additional 170,707 shares during the last quarter. LPL Financial LLC increased its stake in shares of Mplx by 16.2% in the 4th quarter. LPL Financial LLC now owns 142,516 shares of the pipeline company's stock worth $4,217,000 after acquiring an additional 19,877 shares during the last quarter. Progeny 3 Inc. increased its stake in shares of Mplx by 68.6% in the 4th quarter. Progeny 3 Inc. now owns 306,837 shares of the pipeline company's stock worth $9,079,000 after acquiring an additional 124,892 shares during the last quarter. Finally, Energy Income Partners LLC purchased a new position in shares of Mplx during the 4th quarter worth $25,743,000. 23.62% of the stock is currently owned by institutional investors.
Get Mplx alerts:Mplx Trading Down 5.8 %
Shares of Mplx stock traded down $1.79 during mid-day trading on Friday, hitting $29.33. 3,613,801 shares of the stock were exchanged, compared to its average volume of 1,205,905. The stock has a market capitalization of $29.69 billion, a price-to-earnings ratio of 9.37 and a beta of 1.52. Mplx Lp has a twelve month low of $27.47 and a twelve month high of $35.49. The company has a current ratio of 0.74, a quick ratio of 0.68 and a debt-to-equity ratio of 1.63. The company has a 50-day simple moving average of $32.09 and a 200 day simple moving average of $31.93.
Mplx (NYSE:MPLX – Get Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The pipeline company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.81 by $0.02. Mplx had a net margin of 30.73% and a return on equity of 28.66%. The firm had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.59 billion. During the same quarter last year, the firm posted $0.66 earnings per share. Mplx's revenue for the quarter was up 22.8% compared to the same quarter last year. Research analysts forecast that Mplx Lp will post 3.28 EPS for the current year.Mplx Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Friday, August 5th were issued a $0.705 dividend. This represents a $2.82 dividend on an annualized basis and a yield of 9.61%. The ex-dividend date of this dividend was Thursday, August 4th. Mplx's dividend payout ratio is presently 90.10%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the company. UBS Group lowered 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 lowered Mplx from an "overweight" rating to a "hold" rating in a research report on Tuesday, July 26th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Mplx currently has an average rating of "Moderate Buy" and an average price target of $38.14.
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.
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