Perella Weinberg Partners Capital Management LP lessened its position in Mplx Lp (NYSE:MPLX) by 57.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 324,411 shares of the pipeline company’s stock after selling 433,975 shares during the period. Perella Weinberg Partners Capital Management LP’s holdings in Mplx were worth $11,251,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Homrich & Berg grew its position in Mplx by 11.8% in the 2nd quarter. Homrich & Berg now owns 13,214 shares of the pipeline company’s stock valued at $451,000 after buying an additional 1,392 shares in the last quarter. Private Capital Advisors Inc. grew its position in Mplx by 1.2% in the 2nd quarter. Private Capital Advisors Inc. now owns 160,641 shares of the pipeline company’s stock valued at $5,484,000 after buying an additional 1,886 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its position in Mplx by 0.4% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 476,539 shares of the pipeline company’s stock valued at $16,269,000 after buying an additional 2,000 shares in the last quarter. Keybank National Association OH grew its position in Mplx by 19.3% in the 2nd quarter. Keybank National Association OH now owns 12,569 shares of the pipeline company’s stock valued at $429,000 after buying an additional 2,035 shares in the last quarter. Finally, Creative Planning grew its position in Mplx by 7.2% in the 2nd quarter. Creative Planning now owns 30,984 shares of the pipeline company’s stock valued at $1,058,000 after buying an additional 2,081 shares in the last quarter. 31.47% of the stock is currently owned by institutional investors and hedge funds.
NYSE:MPLX opened at $33.00 on Friday. Mplx Lp has a twelve month low of $31.60 and a twelve month high of $39.38. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.61 and a quick ratio of 0.55. The stock has a market cap of $26.69 billion, a PE ratio of 31.13, a price-to-earnings-growth ratio of 2.41 and a beta of 1.30.
Mplx (NYSE:MPLX) last posted its quarterly earnings data on Thursday, November 1st. The pipeline company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Mplx had a net margin of 24.22% and a return on equity of 14.43%. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period in the prior year, the firm earned $0.29 earnings per share. The business’s quarterly revenue was up 74.7% on a year-over-year basis. Equities research analysts expect that Mplx Lp will post 2.32 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Monday, November 5th will be paid a dividend of $0.6375 per share. The ex-dividend date of this dividend is Friday, November 2nd. This is a positive change from Mplx’s previous quarterly dividend of $0.44. This represents a $2.55 dividend on an annualized basis and a yield of 7.73%. Mplx’s dividend payout ratio is currently 236.79%.
Several research firms have recently weighed in on MPLX. Goldman Sachs Group restated a “neutral” rating on shares of Mplx in a research report on Tuesday, October 9th. Zacks Investment Research lowered shares of Mplx from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 11th. Jefferies Financial Group upgraded shares of Mplx from a “hold” rating to a “buy” rating in a research report on Wednesday, July 18th. ValuEngine upgraded shares of Mplx from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 26th. Finally, Bank of America raised their price objective on shares of Mplx from $41.00 to $43.00 and gave the company a “buy” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $40.62.
MPLX LP is a fee-based, growth-oriented limited partnership company. It is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids; and the gathering, transportation and storage of crude oil and refined petroleum products.
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