Mplx Lp $MPLX Position Boosted by Energy Income Partners LLC

Energy Income Partners LLC boosted its stake in shares of Mplx Lp (NYSE:MPLX) by 4.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,541,795 shares of the pipeline company’s stock after acquiring an additional 236,932 shares during the period. Mplx accounts for 5.6% of Energy Income Partners LLC’s portfolio, making the stock its 3rd largest holding. Energy Income Partners LLC’s holdings in Mplx were worth $285,458,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Curi Capital LLC boosted its holdings in shares of Mplx by 401.5% during the 2nd quarter. Curi Capital LLC now owns 38,839 shares of the pipeline company’s stock valued at $2,001,000 after purchasing an additional 31,094 shares during the last quarter. Bank of America Corp DE boosted its stake in Mplx by 8.3% during 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 buying an additional 757,569 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Mplx by 1.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 63,195 shares of the pipeline company’s stock valued at $3,255,000 after buying an additional 674 shares in the last quarter. Progeny 3 Inc. increased its stake in Mplx by 0.5% in the 2nd quarter. Progeny 3 Inc. now owns 1,060,459 shares of the pipeline company’s stock worth $54,624,000 after acquiring an additional 4,900 shares during the last quarter. Finally, Ausdal Financial Partners Inc. raised its holdings in shares of Mplx by 151.1% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 11,167 shares of the pipeline company’s stock worth $575,000 after acquiring an additional 6,719 shares in the last quarter. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Mplx Trading Up 0.4%

Shares of MPLX opened at $54.74 on Friday. The company’s fifty day simple moving average is $51.89 and its 200-day simple moving average is $51.22. The company has a market cap of $55.68 billion, a P/E ratio of 11.60 and a beta of 0.56. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 1.66. Mplx Lp has a twelve month low of $44.60 and a twelve month high of $56.26.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, November 4th. The pipeline company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.07 by $0.45. Mplx had a net margin of 37.61% and a return on equity of 34.14%. The company had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $3.16 billion. As a group, analysts expect that Mplx Lp will post 4.41 EPS for the current year.

Mplx Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, November 7th were issued a $1.0765 dividend. The ex-dividend date was Friday, November 7th. This is a positive change from Mplx’s previous quarterly dividend of $0.96. This represents a $4.31 annualized dividend and a dividend yield of 7.9%. Mplx’s dividend payout ratio (DPR) is currently 91.31%.

Analyst Upgrades and Downgrades

MPLX has been the subject of a number of recent research reports. Morgan Stanley raised 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. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $57.00 price objective on shares of Mplx in a research note on Monday, December 1st. Zacks Research upgraded shares of Mplx from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Wells Fargo & Company decreased their target price on shares of Mplx from $60.00 to $59.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 23rd. Finally, Royal Bank Of Canada lifted their price target on Mplx from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, November 21st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.00.

Mplx Company Profile

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Crude Oil and Products Logistics and Natural Gas and NGL Services segments. The Crude Oil and Products Logistics segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.