Mplx Lp $MPLX Shares Sold by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT cut its position in shares of Mplx Lp (NYSE:MPLX) by 1.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,859,100 shares of the pipeline company’s stock after selling 24,700 shares during the quarter. Mplx accounts for 5.3% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s investment portfolio, making the stock its 4th biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Mplx were worth $106,099,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MPLX. EQ Wealth Advisors LLC purchased a new stake in shares of Mplx in the 4th quarter worth about $32,000. Wiser Advisor Group LLC acquired a new stake in Mplx in the 3rd quarter valued at about $38,000. Prosperity Bancshares Inc purchased a new position in Mplx during the 4th quarter valued at about $43,000. Groesbeck Investment Management Corp NJ purchased a new position in Mplx during the 4th quarter valued at about $49,000. Finally, WFA of San Diego LLC acquired a new position in Mplx during the second quarter worth about $52,000. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MPLX has been the topic of several recent research reports. Morgan Stanley reduced their price target on shares of Mplx from $62.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 20th. Royal Bank Of Canada restated an “outperform” rating and set a $60.00 price objective on shares of Mplx in a research report on Thursday. JPMorgan Chase & Co. upped their target price on Mplx from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, March 10th. Truist Financial lowered their target price on Mplx from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Finally, Zacks Research raised Mplx from a “strong sell” rating to a “hold” rating in a research report on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $61.60.

Mplx Price Performance

NYSE:MPLX opened at $57.20 on Monday. The firm has a market cap of $58.04 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 5.48 and a beta of 0.47. The company has a current ratio of 1.10, a quick ratio of 1.05 and a debt-to-equity ratio of 1.71. The company’s 50-day moving average is $55.89 and its two-hundred day moving average is $56.04. Mplx Lp has a 12-month low of $47.80 and a 12-month high of $59.98.

Mplx (NYSE:MPLX) last released its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.15). The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $3.09 billion. Mplx had a return on equity of 32.74% and a net margin of 36.38%.Mplx’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.10 earnings per share. Research analysts expect that Mplx Lp will post 4.22 EPS for the current year.

Mplx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were paid a dividend of $1.0765 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $4.31 annualized dividend and a dividend yield of 7.5%. Mplx’s dividend payout ratio is presently 93.29%.

Mplx 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.