Cohen & Steers Inc. Buys 189,306 Shares of Mplx Lp $MPLX

Cohen & Steers Inc. boosted its holdings in shares of Mplx Lp (NYSE:MPLX) by 27.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 880,593 shares of the pipeline company’s stock after buying an additional 189,306 shares during the period. Cohen & Steers Inc.’s holdings in Mplx were worth $46,997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in MPLX. CIBC Bancorp USA Inc. acquired a new position in Mplx during the 3rd quarter valued at about $134,319,000. Bank of America Corp DE increased its position in Mplx by 8.3% during the 2nd quarter. Bank of America Corp DE now owns 9,873,619 shares of the pipeline company’s stock valued at $508,590,000 after buying an additional 757,569 shares in the last quarter. Merewether Investment Management LP acquired a new position in Mplx during the 2nd quarter valued at about $16,988,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Mplx by 4.4% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,060,024 shares of the pipeline company’s stock valued at $352,648,000 after buying an additional 300,321 shares in the last quarter. Finally, Americana Partners LLC increased its position in Mplx by 38.6% during the 4th quarter. Americana Partners LLC now owns 760,306 shares of the pipeline company’s stock valued at $40,578,000 after buying an additional 211,694 shares in the last quarter. 24.25% of the stock is owned by institutional investors and hedge funds.

Mplx Stock Up 0.3%

Mplx stock opened at $56.65 on Friday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.05 and a current ratio of 1.10. The business’s 50-day simple moving average is $55.63 and its two-hundred day simple moving average is $55.82. The company has a market cap of $57.48 billion, a PE ratio of 12.26, a PEG ratio of 5.42 and a beta of 0.48. Mplx Lp has a fifty-two week low of $47.80 and a fifty-two week high of $59.98.

Mplx (NYSE:MPLX) last posted its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.15). The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $3.09 billion. Mplx had a net margin of 36.38% and a return on equity of 32.74%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.10 EPS. Equities analysts anticipate that Mplx Lp will post 4.22 EPS for the current year.

Mplx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were paid a dividend of $1.0765 per share. This represents a $4.31 annualized dividend and a yield of 7.6%. The ex-dividend date was Friday, May 8th. Mplx’s payout ratio is presently 93.29%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Mplx from $58.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, March 10th. Barclays upped their target price on Mplx from $58.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Zacks Research raised Mplx from a “strong sell” rating to a “hold” rating in a research report on Friday, June 5th. Wells Fargo & Company reduced their target price on Mplx from $63.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Finally, Morgan Stanley reduced their target price on Mplx from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.60.

Mplx Company 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.