ING Groep NV lifted its position in Mplx Lp (NYSE:MPLX) by 31.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,124,100 shares of the pipeline company’s stock after purchasing an additional 749,100 shares during the quarter. Mplx comprises about 2.1% of ING Groep NV’s holdings, making the stock its 7th biggest holding. ING Groep NV owned approximately 0.75% of Mplx worth $109,375,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in MPLX. Alps Advisors Inc. grew its holdings in shares of Mplx by 16.8% in the third quarter. Alps Advisors Inc. now owns 23,435,667 shares of the pipeline company’s stock valued at $820,483,000 after purchasing an additional 3,379,395 shares during the period. Balyasny Asset Management LLC grew its holdings in shares of Mplx by 351.2% in the second quarter. Balyasny Asset Management LLC now owns 1,633,092 shares of the pipeline company’s stock valued at $54,545,000 after purchasing an additional 1,271,145 shares during the period. Dividend Assets Capital LLC grew its holdings in shares of Mplx by 5,689.7% in the third quarter. Dividend Assets Capital LLC now owns 577,229 shares of the pipeline company’s stock valued at $20,209,000 after purchasing an additional 567,259 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Mplx by 9.4% in 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 purchasing an additional 327,092 shares during the period. Finally, Duff & Phelps Investment Management Co. grew its holdings in shares of Mplx by 16.9% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,828,230 shares of the pipeline company’s stock valued at $64,006,000 after purchasing an additional 263,800 shares during the period. 64.33% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have weighed in on MPLX. Scotiabank reaffirmed a “buy” rating and set a $44.00 target price on shares of Mplx in a research note on Wednesday, October 4th. UBS increased their target price on shares of Mplx from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. BidaskClub raised shares of Mplx from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 31st. Zacks Investment Research lowered shares of Mplx from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $42.00 target price (down previously from $43.00) on shares of Mplx in a research note on Tuesday, September 5th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the stock. Mplx currently has an average rating of “Buy” and an average target price of $41.67.
In related news, VP C Corwin Bromley sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $34.50, for a total value of $86,250.00. Following the sale, the vice president now owns 123,705 shares of the company’s stock, valued at $4,267,822.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Gregory Scott Floerke sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $36.00, for a total transaction of $72,000.00. Following the completion of the sale, the vice president now directly owns 79,598 shares in the company, valued at approximately $2,865,528. The disclosure for this sale can be found here. Insiders have sold 14,000 shares of company stock worth $487,670 in the last three months.
Shares of Mplx Lp (NYSE:MPLX) opened at $36.06 on Friday. The stock has a market cap of $15,136.19, a PE ratio of 40.04, a PEG ratio of 4.97 and a beta of 1.36. Mplx Lp has a 1 year low of $30.88 and a 1 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 (NYSE:MPLX) last issued its quarterly earnings results on Thursday, October 26th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The business had revenue of $980.00 million for the quarter, compared to analysts’ expectations of $965.07 million. Mplx had a net margin of 16.79% and a return on equity of 5.87%. The business’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 earnings per share. research analysts expect that Mplx Lp will post 1.05 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Monday, November 6th were given a dividend of $0.5875 per share. This represents a $2.35 annualized dividend and a dividend yield of 6.52%. The ex-dividend date was Friday, November 3rd. This is a boost from Mplx’s previous quarterly dividend of $0.56. Mplx’s dividend payout ratio is currently 258.24%.
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Mplx 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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