Bessemer Group Inc. Lowers Stock Position in Mplx Lp $MPLX

Bessemer Group Inc. cut its holdings in Mplx Lp (NYSE:MPLX) by 44.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,010 shares of the pipeline company’s stock after selling 11,071 shares during the quarter. Bessemer Group Inc.’s holdings in Mplx were worth $700,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of MPLX. NewEdge Advisors LLC boosted its stake in Mplx by 4.1% during the first quarter. NewEdge Advisors LLC now owns 24,049 shares of the pipeline company’s stock worth $1,287,000 after acquiring an additional 939 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Mplx by 509.0% during the second quarter. Blue Trust Inc. now owns 609 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 509 shares during the last quarter. Trust Co. of Toledo NA OH bought a new stake in shares of Mplx in the 2nd quarter worth approximately $39,000. CWM LLC boosted its position in shares of Mplx by 177.8% in the 2nd quarter. CWM LLC now owns 1,711 shares of the pipeline company’s stock worth $88,000 after purchasing an additional 1,095 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Mplx by 22.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 16,198 shares of the pipeline company’s stock worth $832,000 after buying an additional 2,998 shares during the last quarter. 24.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on MPLX shares. Zacks Research upgraded Mplx from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. JPMorgan Chase & Co. restated a “neutral” rating and set a $57.00 price target on shares of Mplx in a report on Monday, December 1st. Raymond James Financial lowered Mplx from an “outperform” rating to a “market perform” rating in a research report on Monday, January 5th. Royal Bank Of Canada upped their price target on shares of Mplx from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, November 21st. Finally, Morgan Stanley raised their price objective on shares of Mplx from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Mplx has an average rating of “Moderate Buy” and a consensus price target of $58.29.

Mplx Stock Performance

MPLX stock opened at $55.40 on Wednesday. The stock’s 50 day simple moving average is $54.72 and its 200 day simple moving average is $52.26. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 1.66. Mplx Lp has a 12-month low of $44.60 and a 12-month high of $57.15. The stock has a market capitalization of $56.35 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 4.94 and a beta of 0.57.

Mplx (NYSE:MPLX) last posted its quarterly earnings results on Tuesday, February 3rd. The pipeline company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.07. The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Mplx had a return on equity of 34.56% and a net margin of 37.79%.The company’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.07 earnings per share. As a group, research analysts forecast that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th will be given a $1.0765 dividend. The ex-dividend date of this dividend is Monday, February 9th. This represents a $4.31 dividend on an annualized basis and a yield of 7.8%. Mplx’s payout ratio is 89.42%.

Mplx Company Profile

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.