SG Americas Securities LLC boosted its holdings in Mplx Lp (NYSE:MPLX – Get Rating) by 10.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,030 shares of the pipeline company’s stock after acquiring an additional 2,013 shares during the period. SG Americas Securities LLC’s holdings in Mplx were worth $731,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Pacer Advisors Inc. increased its stake in shares of Mplx by 1.6% in the fourth quarter. Pacer Advisors Inc. now owns 21,153 shares of the pipeline company’s stock valued at $626,000 after purchasing an additional 330 shares during the period. Griffin Asset Management Inc. lifted its holdings in Mplx by 2.2% in the first quarter. Griffin Asset Management Inc. now owns 17,913 shares of the pipeline company’s stock worth $594,000 after purchasing an additional 390 shares during the period. HighTower Trust Services LTA grew its position in Mplx by 0.9% in the 1st quarter. HighTower Trust Services LTA now owns 44,299 shares of the pipeline company’s stock valued at $1,470,000 after buying an additional 401 shares in the last quarter. American Financial Group Inc. increased its stake in Mplx by 2.3% during the 4th quarter. American Financial Group Inc. now owns 22,000 shares of the pipeline company’s stock valued at $651,000 after buying an additional 500 shares during the period. Finally, Belpointe Asset Management LLC raised its position in shares of Mplx by 11.7% during the 1st quarter. Belpointe Asset Management LLC now owns 4,835 shares of the pipeline company’s stock worth $160,000 after buying an additional 507 shares in the last quarter. 24.73% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on MPLX shares. US Capital Advisors cut shares of Mplx from an “overweight” rating to a “hold” rating in a report on Tuesday, July 26th. Raymond James lifted their price target on Mplx from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, April 20th. UBS Group decreased their target price on Mplx from $41.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, July 8th. Finally, Morgan Stanley boosted their price target on shares of Mplx from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 26th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.14.
Mplx Price Performance
Mplx (NYSE:MPLX – Get Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The pipeline company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.81 by $0.02. Mplx had a net margin of 30.72% and a return on equity of 26.83%. The business had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.59 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. The firm’s quarterly revenue was up 22.8% on a year-over-year basis. On average, analysts forecast that Mplx Lp will post 3.24 earnings per share for the current year.
Mplx Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Friday, August 5th will be paid a $0.705 dividend. This represents a $2.82 annualized dividend and a yield of 8.81%. The ex-dividend date is Thursday, August 4th. Mplx’s dividend payout ratio is currently 95.27%.
MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, exchange, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products; and sale of residue gas and condensate.
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