Mplx Lp $MPLX Shares Acquired by Oxbow Advisors LLC

Oxbow Advisors LLC increased its holdings in Mplx Lp (NYSE:MPLX) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 405,174 shares of the pipeline company’s stock after purchasing an additional 11,754 shares during the period. Mplx makes up 1.9% of Oxbow Advisors LLC’s investment portfolio, making the stock its 7th biggest holding. Oxbow Advisors LLC’s holdings in Mplx were worth $21,624,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MPLX. Bridges Investment Management Inc. increased its holdings in shares of Mplx by 53.2% during the 3rd quarter. Bridges Investment Management Inc. now owns 103,351 shares of the pipeline company’s stock valued at $5,162,000 after acquiring an additional 35,869 shares during the last quarter. Caprock Group LLC acquired a new stake in Mplx in the 3rd quarter worth approximately $2,698,000. Texas Yale Capital Corp. boosted its position in Mplx by 8.9% during the third quarter. Texas Yale Capital Corp. now owns 299,845 shares of the pipeline company’s stock worth $14,977,000 after purchasing an additional 24,405 shares during the period. Alps Advisors Inc. grew 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. Finally, Advisors Asset Management Inc. raised its position in shares of Mplx by 16.2% in the third quarter. Advisors Asset Management Inc. now owns 149,367 shares of the pipeline company’s stock valued at $7,461,000 after purchasing an additional 20,777 shares during the period. 24.25% of the stock is owned by institutional investors and hedge funds.

Mplx Stock Performance

NYSE MPLX opened at $54.02 on Friday. The company’s fifty day moving average is $57.03 and its two-hundred day moving average is $55.10. Mplx Lp has a 52-week low of $47.80 and a 52-week high of $59.98. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.10 and a quick ratio of 1.18. The firm has a market capitalization of $54.84 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 5.04 and a beta of 0.49.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.15). Mplx had a net margin of 36.38% and a return on equity of 32.74%. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period in the prior year, the company posted $1.10 EPS. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. Equities research analysts forecast that Mplx Lp will post 4.33 EPS for the current year.

Mplx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 8th will be given a $1.0765 dividend. The ex-dividend date is Friday, May 8th. This represents a $4.31 dividend on an annualized basis and a dividend yield of 8.0%. Mplx’s dividend payout ratio (DPR) is currently 93.07%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MPLX shares. Zacks Research lowered shares of Mplx from a “hold” rating to a “strong sell” rating in a research note on Thursday. Wall Street Zen lowered Mplx from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. The Goldman Sachs Group increased their target price on Mplx from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, April 20th. JPMorgan Chase & Co. raised their target price on Mplx from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, March 10th. Finally, Truist Financial dropped their price target on Mplx from $67.00 to $66.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Mplx currently has a consensus rating of “Moderate Buy” and an average price target of $61.70.

About Mplx

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.