NEOS Investment Management LLC Has $27.38 Million Holdings in Mplx Lp $MPLX

NEOS Investment Management LLC increased its position in shares of Mplx Lp (NYSE:MPLX) by 45.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 486,025 shares of the pipeline company’s stock after buying an additional 152,041 shares during the period. NEOS Investment Management LLC’s holdings in Mplx were worth $27,378,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Energy Income Partners LLC acquired a new stake in Mplx during the 2nd quarter worth about $303,072,000. Morgan Stanley lifted its stake in shares of Mplx by 23.7% in the 4th quarter. Morgan Stanley now owns 5,763,110 shares of the pipeline company’s stock valued at $307,577,000 after purchasing an additional 1,104,510 shares during the period. Bank of America Corp DE lifted its stake in shares of Mplx by 8.3% in 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 purchasing an additional 757,569 shares during the period. Royal Bank of Canada boosted its position in shares of Mplx by 45.5% during the 1st quarter. Royal Bank of Canada now owns 1,151,905 shares of the pipeline company’s stock valued at $65,739,000 after purchasing an additional 360,427 shares in the last quarter. Finally, Merewether Investment Management LP bought a new stake in shares of Mplx during the 2nd quarter valued at about $16,988,000. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Stock Up 0.6%

Shares of NYSE:MPLX opened at $59.68 on Friday. The business’s 50 day simple moving average is $58.22 and its two-hundred day simple moving average is $57.19. The firm has a market cap of $60.51 billion, a P/E ratio of 12.83, a PEG ratio of 5.62 and a beta of 0.48. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.83 and a current ratio of 0.89. Mplx Lp has a 52-week low of $47.80 and a 52-week high of $60.95.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $1.06 EPS for the quarter, meeting analysts’ consensus estimates of $1.06. The firm had revenue of $3.13 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Mplx had a return on equity of 32.83% and a net margin of 35.75%.The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 earnings per share. As a group, research analysts forecast that Mplx Lp will post 4.28 EPS for the current fiscal year.

Mplx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, August 7th were paid a dividend of $1.0765 per share. This represents a $4.31 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date was Friday, August 7th. Mplx’s payout ratio is 92.69%.

Analysts Set New Price Targets

MPLX has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on Mplx from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Weiss Ratings reissued a “buy (a-)” rating on shares of Mplx in a research note on Thursday, August 13th. Barclays increased their price target on Mplx from $59.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Zacks Research upgraded shares of Mplx from a “strong sell” rating to a “hold” rating in a research note on Friday, June 5th. Finally, Wolfe Research downgraded shares of Mplx from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $63.20.

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.