OppenheimerFunds Inc. trimmed its holdings in shares of Mplx Lp (NYSE:MPLX) by 6.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,675,570 shares of the pipeline company’s stock after selling 748,378 shares during the quarter. OppenheimerFunds Inc.’s holdings in Mplx were worth $414,132,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Saratoga Research & Investment Management bought a new stake in Mplx during the third quarter worth approximately $192,000. Stuart Chaussee & Associates Inc. bought a new stake in Mplx during the fourth quarter worth approximately $195,000. Ameritas Investment Partners Inc. bought a new stake in Mplx during the third quarter worth approximately $193,000. American Century Companies Inc. bought a new stake in Mplx during the fourth quarter worth approximately $204,000. Finally, Schmidt P J Investment Management Inc. bought a new stake in Mplx during the third quarter worth approximately $210,000. Hedge funds and other institutional investors own 62.29% of the company’s stock.
In other Mplx news, VP Gregory Scott Floerke sold 2,000 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $37.00, for a total value of $74,000.00. Following the completion of the sale, the vice president now owns 77,598 shares in the company, valued at approximately $2,871,126. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Mplx Lp (MPLX) opened at $35.49 on Wednesday. Mplx Lp has a 52 week low of $30.88 and a 52 week high of $39.38. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.54 and a quick ratio of 0.48. The company has a market cap of $28,098.75, a P/E ratio of 33.71, a P/E/G ratio of 3.40 and a beta of 1.32.
Mplx (NYSE:MPLX) last posted its quarterly earnings data on Thursday, February 1st. The pipeline company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.03). Mplx had a return on equity of 6.99% and a net margin of 17.90%. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $937.04 million. During the same period in the prior year, the business posted $0.17 EPS. The company’s revenue for the quarter was up 27.9% on a year-over-year basis. analysts forecast that Mplx Lp will post 1.86 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Monday, February 5th were given a $0.6075 dividend. This is an increase from Mplx’s previous quarterly dividend of $0.44. The ex-dividend date was Friday, February 2nd. This represents a $2.43 dividend on an annualized basis and a yield of 6.85%. Mplx’s dividend payout ratio is presently 231.43%.
A number of analysts recently weighed in on the stock. Stifel Nicolaus restated a “buy” rating and set a $45.00 target price on shares of Mplx in a report on Thursday, February 1st. Credit Suisse Group assumed coverage on shares of Mplx in a report on Thursday, January 4th. They set an “outperform” rating and a $43.00 target price for the company. Jefferies Group cut shares of Mplx from a “buy” rating to a “hold” rating and set a $38.00 target price for the company. in a report on Monday, February 5th. Citigroup reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Mplx in a research note on Friday, February 2nd. Finally, UBS Group raised their price objective 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $41.91.
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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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