Jennison Associates LLC Has $26.85 Million Position in Mplx Lp (MPLX)
Jennison Associates LLC increased its position in shares of Mplx Lp (NYSE:MPLX) by 15.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 803,943 shares of the pipeline company’s stock after buying an additional 109,744 shares during the period. Jennison Associates LLC owned 0.21% of Mplx Lp worth $26,852,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tarbox Group Inc. increased its position in Mplx Lp by 41.8% in the first quarter. Tarbox Group Inc. now owns 3,575 shares of the pipeline company’s stock worth $129,000 after buying an additional 1,053 shares in the last quarter. Hirtle Callaghan & Co LLC bought a new position in Mplx Lp during the first quarter worth $139,000. Cedar Wealth Management LLC increased its position in Mplx Lp by 17.6% in the second quarter. Cedar Wealth Management LLC now owns 5,490 shares of the pipeline company’s stock worth $183,000 after buying an additional 820 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in Mplx Lp during the first quarter worth $198,000. Finally, Private Advisor Group LLC bought a new position in Mplx Lp during the first quarter worth $201,000. Hedge funds and other institutional investors own 66.81% of the company’s stock.
Shares of Mplx Lp (NYSE:MPLX) opened at 33.83 on Friday. The firm has a market capitalization of $13.14 billion, a PE ratio of 40.42 and a beta of 1.35. Mplx Lp has a 52-week low of $30.09 and a 52-week high of $39.43. The stock has a 50 day moving average price of $34.66 and a 200-day moving average price of $35.25.
Mplx Lp (NYSE:MPLX) last announced its quarterly earnings data on Thursday, July 27th. The pipeline company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $884.70 million. During the same period in the previous year, the business earned ($0.11) EPS. The firm’s revenue for the quarter was up 31.2% on a year-over-year basis. Equities analysts forecast that Mplx Lp will post $0.98 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, August 7th were issued a $0.5625 dividend. This is a positive change from Mplx Lp’s previous quarterly dividend of $0.44. This represents a $2.25 dividend on an annualized basis and a yield of 6.65%. The ex-dividend date was Thursday, August 3rd. Mplx Lp’s payout ratio is presently 271.09%.
MPLX has been the subject of a number of analyst reports. TheStreet upgraded Mplx Lp from a “c” rating to a “b-” rating in a research note on Friday, April 28th. Scotiabank set a $44.00 price target on Mplx Lp and gave the company a “buy” rating in a research note on Saturday, July 22nd. Guggenheim initiated coverage on Mplx Lp in a research note on Thursday, July 20th. They issued a “buy” rating and a $40.00 price target for the company. BidaskClub upgraded Mplx Lp from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Finally, Royal Bank Of Canada restated a “buy” rating on shares of Mplx Lp in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average 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 that occurred on Monday, June 12th. The stock was bought at an average cost of $33.26 per share, for a total transaction of $299,340.00. Following the acquisition, the chief executive officer now directly owns 167,896 shares in the company, valued at $5,584,220.96. The acquisition 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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