BNP Paribas Financial Markets Increases Holdings in Mplx Lp $MPLX

BNP Paribas Financial Markets lifted its position in shares of Mplx Lp (NYSE:MPLX) by 4.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,106,127 shares of the pipeline company’s stock after buying an additional 44,125 shares during the period. BNP Paribas Financial Markets’ holdings in Mplx were worth $59,034,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Belfer Management LLC lifted its stake in Mplx by 2.4% in the 4th quarter. Belfer Management LLC now owns 7,849 shares of the pipeline company’s stock valued at $419,000 after buying an additional 181 shares in the last quarter. Trueblood Wealth Management LLC lifted its stake in Mplx by 1.9% in the 4th quarter. Trueblood Wealth Management LLC now owns 9,736 shares of the pipeline company’s stock valued at $520,000 after buying an additional 186 shares in the last quarter. Wealthstar Advisors LLC lifted its stake in Mplx by 1.5% in the 4th quarter. Wealthstar Advisors LLC now owns 12,598 shares of the pipeline company’s stock valued at $672,000 after buying an additional 190 shares in the last quarter. Cobblestone Capital Advisors LLC NY lifted its stake in Mplx by 4.0% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 5,198 shares of the pipeline company’s stock valued at $260,000 after buying an additional 198 shares in the last quarter. Finally, Burford Brothers Inc. lifted its stake in Mplx by 1.2% in the 4th quarter. Burford Brothers Inc. now owns 17,449 shares of the pipeline company’s stock valued at $931,000 after buying an additional 209 shares in the last quarter. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on MPLX. 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 note on Wednesday, May 20th. Weiss Ratings lowered Mplx from a “buy (a)” rating to a “buy (a-)” rating in a research note on Monday, May 18th. Truist Financial reduced their target price on Mplx from $67.00 to $66.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Barclays upped their target price on Mplx from $58.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Finally, Citigroup upped their target price on Mplx from $54.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.60.

Mplx Trading Up 1.1%

Shares of Mplx stock opened at $55.59 on Wednesday. Mplx Lp has a fifty-two week low of $47.80 and a fifty-two week high of $59.98. The firm has a market cap of $56.41 billion, a PE ratio of 12.03, a P/E/G ratio of 5.28 and a beta of 0.48. The business’s fifty day moving average is $55.95 and its two-hundred day moving average is $55.64. The company has a quick ratio of 1.05, a current ratio of 1.10 and a debt-to-equity ratio of 1.71.

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

Mplx Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date of this dividend was Friday, May 8th. Mplx’s dividend payout ratio is currently 93.29%.

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.