Mplx Lp (MPLX) Position Increased by Texas Yale Capital Corp.
Texas Yale Capital Corp. raised its stake in shares of Mplx Lp (NYSE:MPLX) by 142.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 130,313 shares of the pipeline company’s stock after buying an additional 76,600 shares during the period. Texas Yale Capital Corp.’s holdings in Mplx Lp were worth $4,352,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Alps Advisors Inc. raised its stake in shares of Mplx Lp by 5.3% in the second quarter. Alps Advisors Inc. now owns 20,056,272 shares of the pipeline company’s stock worth $669,879,000 after buying an additional 1,015,105 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its stake in shares of Mplx Lp by 1.1% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 19,105,648 shares of the pipeline company’s stock worth $638,129,000 after buying an additional 202,094 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its stake in shares of Mplx Lp by 4.5% in the first quarter. Kayne Anderson Capital Advisors LP now owns 12,607,101 shares of the pipeline company’s stock worth $454,846,000 after buying an additional 539,300 shares during the last quarter. Atlantic Trust Group LLC raised its stake in shares of Mplx Lp by 5.8% in the first quarter. Atlantic Trust Group LLC now owns 6,565,477 shares of the pipeline company’s stock worth $236,883,000 after buying an additional 362,343 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Mplx Lp by 36.3% in the second quarter. Bank of Montreal Can now owns 6,234,136 shares of the pipeline company’s stock worth $208,220,000 after buying an additional 1,661,578 shares during the last quarter. Institutional investors and hedge funds own 66.81% of the company’s stock.
Mplx Lp (NYSE:MPLX) opened at 32.56 on Friday. Mplx Lp has a 52 week low of $30.09 and a 52 week high of $39.43. The company has a market cap of $12.65 billion, a P/E ratio of 38.90 and a beta of 1.35. The company has a 50-day moving average of $34.75 and a 200-day moving average of $35.45.
Mplx Lp (NYSE:MPLX) last issued its quarterly earnings results on Thursday, July 27th. The pipeline company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.10. Mplx Lp had a net margin of 19.07% and a return on equity of 6.13%. The company had revenue of $916 million during the quarter, compared to analysts’ expectations of $884.70 million. During the same quarter last year, the company posted ($0.11) EPS. The firm’s revenue was up 31.2% compared to the same quarter last year. On average, equities research analysts predict that Mplx Lp will post $0.97 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, August 7th were given a dividend of $0.5625 per share. This is a boost from Mplx Lp’s previous quarterly dividend of $0.44. This represents a $2.25 annualized dividend and a dividend yield of 6.91%. The ex-dividend date of this dividend was Thursday, August 3rd. Mplx Lp’s payout ratio is 271.09%.
A number of analysts recently issued reports on MPLX shares. BidaskClub upgraded Mplx Lp from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Zacks Investment Research lowered Mplx Lp from a “hold” rating to a “sell” rating in a report on Friday, May 12th. TheStreet upgraded Mplx Lp from a “c” rating to a “b-” rating in a report on Friday, April 28th. Royal Bank Of Canada reiterated a “buy” rating on shares of Mplx Lp in a report on Friday, July 28th. Finally, Scotiabank set a $44.00 price target on Mplx Lp and gave the company a “buy” rating in a report on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $42.55.
In other news, CEO Gary R. Heminger acquired 9,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was acquired at an average cost of $33.26 per share, with a total value of $299,340.00. Following the transaction, the chief executive officer now owns 167,896 shares in the company, valued at $5,584,220.96. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Mplx Lp Company Profile
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.
Receive News & Stock Ratings for Mplx Lp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mplx Lp and related stocks with our FREE daily email newsletter.