Raymond James Trust N.A. acquired a new stake in shares of Mplx Lp (NYSE:MPLX) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,579 shares of the pipeline company’s stock, valued at approximately $229,000.
A number of other hedge funds also recently bought and sold shares of the stock. Alps Advisors Inc. increased its stake in Mplx by 5.8% during the 2nd quarter. Alps Advisors Inc. now owns 23,994,554 shares of the pipeline company’s stock valued at $851,087,000 after buying an additional 1,323,103 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in Mplx during the 2nd quarter valued at about $12,606,000. Aperio Group LLC acquired a new position in Mplx during the 2nd quarter valued at about $353,000. Raymond James Financial Services Advisors Inc. increased its stake in Mplx by 6.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 186,936 shares of the pipeline company’s stock valued at $6,382,000 after buying an additional 10,683 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Mplx by 17.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 188,240 shares of the pipeline company’s stock valued at $6,427,000 after buying an additional 28,000 shares during the period. 31.03% of the stock is owned by institutional investors.
Several equities analysts have commented on the stock. Goldman Sachs Group cut shares of Mplx from a “buy” rating to a “neutral” rating and set a $35.00 target price on the stock. in a research note on Monday, October 8th. Zacks Investment Research cut shares of Mplx from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 11th. Credit Suisse Group assumed coverage on shares of Mplx in a research note on Thursday, October 11th. They set an “outperform” rating and a $45.00 target price on the stock. Bank of America cut shares of Mplx from a “buy” rating to a “neutral” rating and set a $36.00 target price on the stock. in a research note on Thursday, November 29th. Finally, Citigroup lowered their price objective on shares of Mplx from $44.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, November 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $39.69.
Shares of MPLX opened at $34.24 on Wednesday. The company has a market capitalization of $26.31 billion, a PE ratio of 32.30, a price-to-earnings-growth ratio of 2.37 and a beta of 1.30. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.70 and a current ratio of 0.77. Mplx Lp has a 12-month low of $31.60 and a 12-month high of $39.38.
Mplx (NYSE:MPLX) last announced its quarterly earnings data on Thursday, November 1st. The pipeline company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.04. The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Mplx had a net margin of 27.99% and a return on equity of 21.03%. The business’s revenue was up 74.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS. As a group, research analysts forecast that Mplx Lp will post 2.43 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Monday, November 5th were paid a $0.6375 dividend. The ex-dividend date of this dividend was Friday, November 2nd. This represents a $2.55 annualized dividend and a dividend yield of 7.45%. This is a boost from Mplx’s previous quarterly dividend of $0.44. Mplx’s payout ratio is currently 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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