Bank of America Corp DE raised its position in Mplx Lp (NYSE:MPLX – Get Rating) by 19.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 14,397,878 shares of the pipeline company’s stock after purchasing an additional 2,389,661 shares during the period. Bank of America Corp DE’s holdings in Mplx were worth $477,722,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of MPLX. Private Advisor Group LLC acquired a new position in shares of Mplx in the 4th quarter worth approximately $254,000. Bank of Montreal Can increased its stake in shares of Mplx by 43.4% in the 4th quarter. Bank of Montreal Can now owns 1,024,106 shares of the pipeline company’s stock valued at $29,842,000 after acquiring an additional 309,900 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Mplx by 1.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 14,475,655 shares of the pipeline company’s stock valued at $428,335,000 after acquiring an additional 170,707 shares in the last quarter. LPL Financial LLC increased its stake in shares of Mplx by 16.2% in the 4th quarter. LPL Financial LLC now owns 142,516 shares of the pipeline company’s stock valued at $4,217,000 after acquiring an additional 19,877 shares in the last quarter. Finally, Progeny 3 Inc. increased its stake in shares of Mplx by 68.6% in the 4th quarter. Progeny 3 Inc. now owns 306,837 shares of the pipeline company’s stock valued at $9,079,000 after acquiring an additional 124,892 shares in the last quarter. Institutional investors and hedge funds own 23.62% of the company’s stock.
Mplx Stock Performance
Shares of MPLX stock opened at $32.49 on Monday. The firm has a market capitalization of $32.89 billion, a PE ratio of 10.38 and a beta of 1.52. The firm has a fifty day simple moving average of $31.89 and a two-hundred day simple moving average of $31.96. The company has a current ratio of 0.74, a quick ratio of 0.68 and a debt-to-equity ratio of 1.63. Mplx Lp has a 12 month low of $27.43 and a 12 month high of $35.49.
Mplx Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Friday, August 5th were issued a dividend of $0.705 per share. This represents a $2.82 dividend on an annualized basis and a yield of 8.68%. The ex-dividend date was Thursday, August 4th. Mplx’s dividend payout ratio is 90.10%.
Analyst Ratings Changes
Several analysts have recently weighed in on MPLX shares. UBS Group lowered their price objective on shares of Mplx from $41.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, July 8th. US Capital Advisors lowered shares of Mplx from an “overweight” rating to a “hold” rating in a research note on Tuesday, July 26th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Mplx presently has a consensus rating of “Moderate Buy” and an average target price of $38.14.
Mplx Company Profile
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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