Barnett & Company Inc. increased its position in Mplx Lp (NYSE:MPLX) by 19.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,910 shares of the pipeline company’s stock after buying an additional 1,980 shares during the quarter. Barnett & Company Inc.’s holdings in Mplx were worth $413,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of MPLX. Bank of Montreal Can purchased a new position in shares of Mplx in the 2nd quarter worth $194,035,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Mplx in the second quarter valued at about $153,497,000. Salient Capital Advisors LLC raised its position in Mplx by 60.6% in the second quarter. Salient Capital Advisors LLC now owns 7,447,362 shares of the pipeline company’s stock valued at $254,253,000 after purchasing an additional 2,810,467 shares during the period. Chickasaw Capital Management LLC raised its position in Mplx by 74.1% in the third quarter. Chickasaw Capital Management LLC now owns 5,708,264 shares of the pipeline company’s stock valued at $197,963,000 after purchasing an additional 2,430,097 shares during the period. Finally, Tortoise Capital Advisors L.L.C. raised its position in Mplx by 7.0% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 26,918,106 shares of the pipeline company’s stock valued at $918,984,000 after purchasing an additional 1,765,329 shares during the period. 31.47% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have commented on MPLX. ValuEngine raised Mplx from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 26th. Stifel Nicolaus raised their price objective on Mplx from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, July 27th. Goldman Sachs Group lowered Mplx from a “buy” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a research report on Monday, October 8th. Zacks Investment Research lowered Mplx from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 11th. Finally, Credit Suisse Group began coverage on Mplx in a research report on Thursday, October 11th. They issued an “outperform” rating and a $45.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $40.62.
Shares of NYSE MPLX opened at $33.00 on Monday. Mplx Lp has a 1 year low of $31.60 and a 1 year high of $39.38. The stock has a market cap of $26.20 billion, a PE ratio of 31.13, a price-to-earnings-growth ratio of 2.37 and a beta of 1.30. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.55 and a current ratio of 0.61.
Mplx (NYSE:MPLX) last announced its earnings results on Thursday, November 1st. The pipeline company reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.04. Mplx had a return on equity of 20.36% and a net margin of 27.99%. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same period in the previous year, the company earned $0.29 earnings per share. The company’s revenue for the quarter was up 74.7% compared to the same quarter last year. Equities research analysts anticipate that Mplx Lp will post 2.33 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Monday, November 5th will be given a dividend of $0.6375 per share. This represents a $2.55 dividend on an annualized basis and a dividend yield of 7.73%. This is a positive change from Mplx’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Friday, November 2nd. Mplx’s payout ratio is presently 236.79%.
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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