Mplx Lp (MPLX) Position Cut by Groesbeck Investment Management Corp NJ
Groesbeck Investment Management Corp NJ reduced its position in shares of Mplx Lp (NYSE:MPLX) by 5.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,614 shares of the pipeline company’s stock after selling 1,926 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in Mplx Lp were worth $1,122,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of MPLX. Bank of America Corp DE boosted its position in Mplx Lp by 130.8% in the first quarter. Bank of America Corp DE now owns 6,196,080 shares of the pipeline company’s stock worth $223,555,000 after buying an additional 3,511,264 shares during the last quarter. Bank of Montreal Can boosted its position in 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. Alps Advisors Inc. boosted its position in 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. Neuberger Berman Group LLC boosted its position in Mplx Lp by 23.8% in the first quarter. Neuberger Berman Group LLC now owns 4,614,709 shares of the pipeline company’s stock worth $166,499,000 after buying an additional 886,696 shares during the last quarter. Finally, Eagle Global Advisors LLC boosted its position in Mplx Lp by 74.1% in the first quarter. Eagle Global Advisors LLC now owns 1,770,863 shares of the pipeline company’s stock worth $63,893,000 after buying an additional 753,584 shares during the last quarter. 66.81% of the stock is currently owned by institutional investors.
Shares of Mplx Lp (NYSE MPLX) opened at 32.89 on Friday. The firm has a market cap of $12.78 billion, a PE ratio of 39.30 and a beta of 1.35. The stock’s 50 day moving average is $34.75 and its 200 day moving average is $35.42. Mplx Lp has a 12 month low of $30.09 and a 12 month high of $39.43.
Mplx Lp (NYSE:MPLX) last released its quarterly earnings results on Thursday, July 27th. The pipeline company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.16 by $0.10. The firm had revenue of $916 million for the quarter, compared to analyst estimates of $884.70 million. Mplx Lp had a return on equity of 6.13% and a net margin of 19.07%. Mplx Lp’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.11) EPS. On average, analysts anticipate that Mplx Lp will post $0.97 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, August 7th were given a dividend of $0.5625 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This is a positive change from Mplx Lp’s previous quarterly dividend of $0.44. This represents a $2.25 annualized dividend and a yield of 6.84%. Mplx Lp’s payout ratio is 271.09%.
A number of research analysts have commented on MPLX shares. Zacks Investment Research raised shares of Mplx Lp from a “sell” rating to a “hold” rating in a research report on Thursday, May 18th. BidaskClub raised shares of Mplx Lp from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. TheStreet raised shares of Mplx Lp from a “c” rating to a “b-” rating in a research report on Friday, April 28th. Scotiabank set a $44.00 price target on shares of Mplx Lp and gave the stock a “buy” rating in a research report on Saturday, July 22nd. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of Mplx Lp in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Mplx Lp presently has a consensus rating of “Buy” and a consensus target price of $42.55.
In related news, CEO Gary R. Heminger purchased 9,000 shares of Mplx Lp stock in a transaction that occurred on Monday, June 12th. The shares were purchased 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 of the company’s stock, valued at approximately $5,584,220.96. The purchase was disclosed in a document filed with the Securities & Exchange Commission, 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.
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