Parkside Financial Bank & Trust lifted its stake in shares of Mplx Lp (NYSE:MPLX) by 53.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,377 shares of the pipeline company’s stock after acquiring an additional 17,125 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Mplx were worth $1,383,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in MPLX. Taylor Hoffman Wealth Management purchased a new position in shares of Mplx in the third quarter worth about $97,000. Delphi Financial Group Inc. grew its stake in Mplx by 235.5% during the 3rd quarter. Delphi Financial Group Inc. now owns 1,275,000 shares of the pipeline company’s stock worth $35,713,000 after purchasing an additional 895,000 shares in the last quarter. Doliver Advisors LP grew its stake in Mplx by 15.3% during the 3rd quarter. Doliver Advisors LP now owns 9,821 shares of the pipeline company’s stock worth $267,000 after purchasing an additional 1,300 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its stake in Mplx by 29.1% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 11,259,552 shares of the pipeline company’s stock worth $315,368,000 after purchasing an additional 2,536,883 shares in the last quarter. Finally, Alps Advisors Inc. grew its stake in Mplx by 5.6% during the 3rd quarter. Alps Advisors Inc. now owns 29,266,923 shares of the pipeline company’s stock worth $819,767,000 after purchasing an additional 1,544,357 shares in the last quarter. Institutional investors own 24.28% of the company’s stock.
Several research analysts recently commented on MPLX shares. Royal Bank of Canada set a $33.00 target price on Mplx and gave the stock a “buy” rating in a research note on Friday, November 1st. Jefferies Financial Group reaffirmed a “buy” rating and set a $35.00 price objective on shares of Mplx in a research note on Tuesday, September 3rd. ValuEngine raised Mplx from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Credit Suisse Group reaffirmed an “outperform” rating and set a $33.00 price objective (down from $38.00) on shares of Mplx in a research note on Monday, August 12th. Finally, Scotiabank assumed coverage on Mplx in a research note on Tuesday, September 3rd. They set an “outperform” rating and a $36.00 price objective for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. Mplx has an average rating of “Buy” and a consensus target price of $35.50.
MPLX traded down $0.17 on Friday, hitting $24.75. 2,718,906 shares of the company traded hands, compared to its average volume of 2,127,089. The company has a 50 day moving average of $27.26 and a 200-day moving average of $29.63. The company has a quick ratio of 0.68, a current ratio of 0.65 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $26.35 billion, a PE ratio of 10.81 and a beta of 1.07. Mplx Lp has a 12-month low of $24.33 and a 12-month high of $35.85.
Mplx (NYSE:MPLX) last posted its quarterly earnings data on Thursday, October 31st. The pipeline company reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.02. The firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.05 billion. Mplx had a return on equity of 21.25% and a net margin of 28.17%. The firm’s revenue was up 33.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.62 EPS. On average, research analysts anticipate that Mplx Lp will post 2.41 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be paid a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 10.95%. This is an increase from Mplx’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Friday, November 1st. Mplx’s dividend payout ratio is 118.34%.
Mplx Company Profile
MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. The company also provides fuels distribution services. 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, storage, and marketing of natural gas liquids; and transportation, storage, and distribution of crude oil and refined petroleum products.
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