BROOKFIELD Corp ON Lowers Stake in Mplx Lp $MPLX

BROOKFIELD Corp ON lowered its position in shares of Mplx Lp (NYSE:MPLX) by 8.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,866,545 shares of the pipeline company’s stock after selling 355,070 shares during the quarter. Mplx accounts for about 1.2% of BROOKFIELD Corp ON’s investment portfolio, making the stock its 14th largest position. BROOKFIELD Corp ON’s holdings in Mplx were worth $206,938,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its holdings in Mplx by 17.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 108,988 shares of the pipeline company’s stock valued at $5,833,000 after buying an additional 15,807 shares in the last quarter. Obermeyer Wealth Partners grew its holdings in Mplx by 18.4% during the 1st quarter. Obermeyer Wealth Partners now owns 35,181 shares of the pipeline company’s stock valued at $1,883,000 after buying an additional 5,476 shares in the last quarter. Jump Financial LLC grew its holdings in Mplx by 349.2% during the 1st quarter. Jump Financial LLC now owns 118,600 shares of the pipeline company’s stock valued at $6,347,000 after buying an additional 92,196 shares in the last quarter. Eagle Global Advisors LLC grew its holdings in Mplx by 2.1% during the 1st quarter. Eagle Global Advisors LLC now owns 1,896,430 shares of the pipeline company’s stock valued at $101,497,000 after buying an additional 39,427 shares in the last quarter. Finally, HighTower Advisors LLC grew its holdings in Mplx by 3.6% during the 1st quarter. HighTower Advisors LLC now owns 614,791 shares of the pipeline company’s stock valued at $32,904,000 after buying an additional 21,225 shares in the last quarter. 24.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on MPLX. Stifel Nicolaus increased their price objective on shares of Mplx from $57.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 14th. Wall Street Zen cut Mplx from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Barclays upped their price objective on Mplx from $52.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Finally, Morgan Stanley upped their price objective on Mplx from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 26th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Mplx currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.89.

Mplx Price Performance

Shares of Mplx stock opened at $50.80 on Friday. The stock has a market cap of $51.77 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 1.36 and a beta of 0.74. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.97 and a current ratio of 1.03. The stock has a 50 day moving average price of $50.72 and a 200-day moving average price of $51.18. Mplx Lp has a one year low of $42.92 and a one year high of $54.87.

Mplx (NYSE:MPLX) last announced its earnings results on Tuesday, August 5th. The pipeline company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.05). The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Mplx had a return on equity of 30.95% and a net margin of 35.44%.Mplx’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.15 EPS. Equities analysts expect that Mplx Lp will post 4.41 EPS for the current year.

Mplx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were issued a $0.9565 dividend. The ex-dividend date was Friday, August 8th. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.5%. Mplx’s payout ratio is 90.97%.

About Mplx

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Crude Oil and Products Logistics and Natural Gas and NGL Services segments. The Crude Oil and Products Logistics segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.