NBW Capital LLC lessened its holdings in Mplx Lp (NYSE:MPLX) by 2.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 216,118 shares of the pipeline company’s stock after selling 5,941 shares during the quarter. Mplx makes up about 2.0% of NBW Capital LLC’s holdings, making the stock its 21st largest position. NBW Capital LLC owned 0.05% of Mplx worth $7,666,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Ameritas Investment Partners Inc. purchased a new position in Mplx in the third quarter valued at $193,000. Stuart Chaussee & Associates Inc. purchased a new position in Mplx in the fourth quarter valued at $195,000. American Century Companies Inc. purchased a new position in Mplx in the fourth quarter valued at $204,000. Quadrant Private Wealth Management LLC purchased a new position in Mplx in the fourth quarter valued at $227,000. Finally, Pitcairn Co. purchased a new position in Mplx in the fourth quarter valued at $229,000. 32.23% of the stock is currently owned by hedge funds and other institutional investors.
MPLX has been the subject of several research analyst reports. Royal Bank of Canada restated a “buy” rating and issued a $46.00 price objective on shares of Mplx in a research note on Wednesday, November 15th. Guggenheim downgraded shares of Mplx from a “buy” rating to a “neutral” rating and set a $36.00 price objective for the company. in a research note on Monday, December 18th. Credit Suisse Group initiated coverage on shares of Mplx in a research note on Thursday, January 4th. They issued an “outperform” rating and a $43.00 price objective for the company. Bank of America initiated coverage on shares of Mplx in a research note on Tuesday, January 9th. They issued a “buy” rating for the company. Finally, Zacks Investment Research downgraded shares of Mplx from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $41.80.
Mplx (NYSE:MPLX) last announced its earnings results on Thursday, February 1st. The pipeline company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.03). Mplx had a return on equity of 6.98% and a net margin of 17.90%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $937.04 million. During the same quarter last year, the company posted $0.17 EPS. Mplx’s quarterly revenue was up 27.9% on a year-over-year basis. research analysts expect that Mplx Lp will post 1.94 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Monday, February 5th were paid a dividend of $0.6075 per share. This is an increase from Mplx’s previous quarterly dividend of $0.44. The ex-dividend date was Friday, February 2nd. This represents a $2.43 annualized dividend and a dividend yield of 6.93%. Mplx’s dividend payout ratio is 231.43%.
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MPLX LP is a master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets. The Company is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids (NGLs), and the gathering, transportation and storage of crude oil and refined petroleum products.
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