Zimmer Partners LP boosted its stake in Mplx Lp (NYSE:MPLX) by 32.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,884,849 shares of the pipeline company’s stock after purchasing an additional 458,375 shares during the period. Mplx comprises about 1.6% of Zimmer Partners LP’s holdings, making the stock its 20th largest holding. Zimmer Partners LP owned about 0.45% of Mplx worth $66,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently modified their holdings of the company. Captrust Financial Advisors bought a new position in Mplx in the 4th quarter valued at approximately $179,000. Stuart Chaussee & Associates Inc. acquired a new position in Mplx in the 4th quarter valued at approximately $195,000. Ameritas Investment Partners Inc. acquired a new position in Mplx in the 3rd quarter valued at approximately $193,000. American Century Companies Inc. acquired a new position in Mplx in the 4th quarter valued at approximately $204,000. Finally, Quadrant Private Wealth Management LLC acquired a new position in Mplx in the 4th quarter valued at approximately $227,000. 32.23% of the stock is owned by institutional investors and hedge funds.
MPLX has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Mplx from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research report on Tuesday. Bank of America initiated coverage on shares of Mplx in a research report on Tuesday, January 9th. They issued a “buy” rating for the company. Royal Bank of Canada restated a “buy” rating and issued a $46.00 price target on shares of Mplx in a research report on Wednesday, November 15th. Citigroup restated a “buy” rating and issued a $46.00 price target on shares of Mplx in a research report on Friday, February 2nd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $45.00 price target on shares of Mplx in a research report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $41.55.
Mplx (NYSE:MPLX) last posted its quarterly earnings data on Thursday, February 1st. The pipeline company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ 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 firm 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 earned $0.17 earnings per share. The company’s quarterly revenue was up 27.9% compared to the same quarter last year. research analysts anticipate that Mplx Lp will post 1.93 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Monday, February 5th were given a dividend of $0.6075 per share. The ex-dividend date of this dividend was Friday, February 2nd. This is a boost from Mplx’s previous quarterly dividend of $0.44. This represents a $2.43 annualized dividend and a dividend yield of 6.89%. 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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