MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 300,321 Shares of Mplx Lp $MPLX

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Mplx Lp (NYSE:MPLX) by 4.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,060,024 shares of the pipeline company’s stock after acquiring an additional 300,321 shares during the quarter. Mplx comprises 0.6% of MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s investment portfolio, making the stock its 27th largest holding. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.69% of Mplx worth $352,648,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Alps Advisors Inc. lifted its holdings in Mplx by 1.2% during the third quarter. Alps Advisors Inc. now owns 26,409,654 shares of the pipeline company’s stock valued at $1,319,162,000 after purchasing an additional 325,451 shares during the last quarter. Invesco Ltd. increased its stake in shares of Mplx by 0.7% in the third quarter. Invesco Ltd. now owns 19,561,938 shares of the pipeline company’s stock worth $977,119,000 after purchasing an additional 143,361 shares in the last quarter. Bank of America Corp DE raised its position in shares of Mplx by 8.3% in the second quarter. Bank of America Corp DE now owns 9,873,619 shares of the pipeline company’s stock valued at $508,590,000 after purchasing an additional 757,569 shares during the period. Energy Income Partners LLC raised its position in shares of Mplx by 2.1% in the third quarter. Energy Income Partners LLC now owns 5,659,885 shares of the pipeline company’s stock valued at $282,711,000 after purchasing an additional 118,090 shares during the period. Finally, Chickasaw Capital Management LLC lifted its stake in shares of Mplx by 2.2% during the 3rd quarter. Chickasaw Capital Management LLC now owns 5,611,824 shares of the pipeline company’s stock valued at $280,311,000 after buying an additional 120,216 shares in the last quarter. 24.25% of the stock is currently owned by institutional investors.

Mplx Stock Down 0.7%

Shares of NYSE MPLX opened at $58.10 on Tuesday. Mplx Lp has a 12 month low of $44.60 and a 12 month high of $59.84. The company has a current ratio of 1.23, a quick ratio of 1.18 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $58.98 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 5.32 and a beta of 0.56. The business has a 50-day moving average of $56.51 and a 200-day moving average of $53.49.

Mplx (NYSE:MPLX) last announced its earnings results on Tuesday, February 3rd. The pipeline company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.07. Mplx had a net margin of 37.79% and a return on equity of 34.37%. The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same period last year, the firm posted $1.07 earnings per share. Mplx’s quarterly revenue was up 6.2% on a year-over-year basis. Sell-side analysts expect that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 9th were issued a $1.0765 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $4.31 dividend on an annualized basis and a dividend yield of 7.4%. Mplx’s dividend payout ratio is presently 89.42%.

Wall Street Analyst Weigh In

Several research firms recently commented on MPLX. Raymond James Financial downgraded shares of Mplx from an “outperform” rating to a “market perform” rating in a report on Monday, January 5th. Morgan Stanley boosted their target price on shares of Mplx from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Tuesday, November 25th. Citigroup increased their target price on Mplx from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Royal Bank Of Canada raised their price target on Mplx from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, November 21st. Finally, Barclays lifted their price target on Mplx from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Mplx presently has an average rating of “Moderate Buy” and an average target price of $60.88.

Mplx Profile

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.