Duff & Phelps Investment Management Co. grew its position in Mplx Lp (NYSE:MPLX) by 16.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,828,230 shares of the pipeline company’s stock after acquiring an additional 263,800 shares during the quarter. Duff & Phelps Investment Management Co. owned about 0.45% of Mplx Lp worth $64,006,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Alps Advisors Inc. grew its holdings in Mplx Lp by 5.3% during the 2nd quarter. Alps Advisors Inc. now owns 20,056,272 shares of the pipeline company’s stock worth $669,879,000 after acquiring an additional 1,015,105 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its holdings in Mplx Lp by 1.1% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 19,105,648 shares of the pipeline company’s stock worth $638,129,000 after acquiring an additional 202,094 shares in the last quarter. Atlantic Trust Group LLC grew its holdings in Mplx Lp by 2.9% during the 2nd quarter. Atlantic Trust Group LLC now owns 6,753,284 shares of the pipeline company’s stock worth $225,561,000 after acquiring an additional 187,807 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Mplx Lp by 36.3% during the second quarter. Bank of Montreal Can now owns 6,234,136 shares of the pipeline company’s stock valued at $208,220,000 after buying an additional 1,661,578 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Mplx Lp by 9.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,812,175 shares of the pipeline company’s stock valued at $127,327,000 after buying an additional 327,092 shares during the last quarter. 63.28% of the stock is currently owned by institutional investors and hedge funds.
MPLX has been the subject of several analyst reports. Scotiabank reissued a “buy” rating and set a $44.00 price target on shares of Mplx Lp in a research report on Wednesday, October 4th. Guggenheim began coverage on shares of Mplx Lp in a research report on Thursday, July 20th. They set a “buy” rating and a $40.00 price target for the company. BidaskClub raised shares of Mplx Lp from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Mplx Lp in a research report on Friday, July 28th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $42.00 price objective (down from $43.00) on shares of Mplx Lp in a research report on Tuesday, September 5th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Mplx Lp has a consensus rating of “Buy” and an average target price of $41.75.
In other Mplx Lp news, VP C Corwin Bromley sold 2,500 shares of Mplx Lp stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $34.50, for a total transaction of $86,250.00. Following the sale, the vice president now owns 123,705 shares of the company’s stock, valued at approximately $4,267,822.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 8,000 shares of company stock worth $276,910 in the last three months.
Shares of Mplx Lp (NYSE:MPLX) opened at $34.78 on Friday. The company has a market cap of $14,508.98, a P/E ratio of 38.38, a PEG ratio of 4.96 and a beta of 1.35. Mplx Lp has a one year low of $30.88 and a one year high of $39.43. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.48 and a current ratio of 0.54.
Mplx Lp (NYSE:MPLX) last issued its quarterly earnings data on Thursday, October 26th. The pipeline company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. Mplx Lp had a net margin of 16.79% and a return on equity of 5.87%. The business had revenue of $980.00 million for the quarter, compared to analysts’ expectations of $965.07 million. During the same quarter last year, the company earned $0.21 EPS. The business’s revenue was up 16.9% on a year-over-year basis. research analysts forecast that Mplx Lp will post 1.01 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Monday, November 6th will be paid a $0.5875 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $2.35 dividend on an annualized basis and a yield of 6.76%. This is a boost from Mplx Lp’s previous quarterly dividend of $0.56. Mplx Lp’s dividend payout ratio (DPR) is currently 258.24%.
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Mplx Lp Company Profile
MPLX LP is a master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets. The Company is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids (NGLs), and the gathering, transportation and storage of crude oil and refined petroleum products.
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