Janney Montgomery Scott LLC lifted its position in shares of Mplx Lp (NYSE:MPLX) by 13.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 55,484 shares of the pipeline company’s stock after acquiring an additional 6,609 shares during the period. Janney Montgomery Scott LLC’s holdings in Mplx were worth $1,924,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Chicago Partners Investment Group LLC increased its position in shares of Mplx by 2.6% in the second quarter. Chicago Partners Investment Group LLC now owns 288,642 shares of the pipeline company’s stock worth $9,854,000 after purchasing an additional 7,200 shares during the period. Chickasaw Capital Management LLC grew 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 acquiring an additional 2,430,097 shares during the last quarter. US Bancorp DE grew its position in Mplx by 4.2% in the second quarter. US Bancorp DE now owns 71,341 shares of the pipeline company’s stock valued at $2,436,000 after acquiring an additional 2,865 shares during the last quarter. Raymond James & Associates grew its position in Mplx by 8.0% in the second quarter. Raymond James & Associates now owns 509,135 shares of the pipeline company’s stock valued at $17,382,000 after acquiring an additional 37,740 shares during the last quarter. Finally, Tiedemann Advisors LLC grew its position in Mplx by 949.9% in the second quarter. Tiedemann Advisors LLC now owns 82,798 shares of the pipeline company’s stock valued at $2,826,000 after acquiring an additional 74,912 shares during the last quarter. 31.57% of the stock is owned by institutional investors.
MPLX has been the topic of a number of recent analyst reports. ValuEngine upgraded Mplx from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 26th. Stifel Nicolaus lifted their target price 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 cut Mplx from a “buy” rating to a “neutral” rating and set a $35.00 target price on the stock. in a research report on Monday, October 8th. Zacks Investment Research cut Mplx from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 11th. Finally, Credit Suisse Group initiated coverage on Mplx in a research report on Thursday, October 11th. They issued an “outperform” rating and a $45.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $40.62.
Shares of MPLX stock opened at $32.39 on Wednesday. Mplx Lp has a 12 month low of $31.60 and a 12 month high of $39.38. The stock has a market cap of $26.59 billion, a PE ratio of 30.56, a PEG ratio of 2.30 and a beta of 1.30. The company has a current ratio of 0.77, a quick ratio of 0.70 and a debt-to-equity ratio of 1.85.
Mplx (NYSE:MPLX) last announced its quarterly earnings results on Thursday, November 1st. The pipeline company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.04. Mplx had a return on equity of 21.03% and a net margin of 27.99%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same period last year, the firm posted $0.29 earnings per share. The business’s revenue for the quarter was up 74.7% on a year-over-year basis. Equities analysts predict that Mplx Lp will post 2.42 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Monday, November 5th were paid a dividend of $0.6375 per share. This represents a $2.55 dividend on an annualized basis and a dividend yield of 7.87%. This is a positive change from Mplx’s previous quarterly dividend of $0.44. The ex-dividend date was Friday, November 2nd. Mplx’s dividend payout ratio (DPR) is presently 240.57%.
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MPLX LP owns, operates, develops, and acquires midstream energy infrastructure assets. It operates in two segments, Logistics and Storage, and Gathering and Processing segments. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids (NGLs); and gathering, transportation, and storage of crude oil and refined petroleum products.
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