Fort Washington Investment Advisors Inc. OH Sells 20,706 Shares of Mplx Lp $MPLX

Fort Washington Investment Advisors Inc. OH cut its position in Mplx Lp (NYSE:MPLX) by 27.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 55,851 shares of the pipeline company’s stock after selling 20,706 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Mplx were worth $3,187,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Solstein Capital LLC purchased a new stake in shares of Mplx during the third quarter valued at approximately $25,000. EQ Wealth Advisors LLC bought a new stake in shares of Mplx during the fourth quarter valued at approximately $32,000. Wiser Advisor Group LLC purchased a new position in Mplx in the 3rd quarter worth approximately $38,000. Prosperity Bancshares Inc purchased a new position in Mplx in the 4th quarter worth approximately $43,000. Finally, Groesbeck Investment Management Corp NJ bought a new position in Mplx in the 4th quarter valued at approximately $49,000. Institutional investors own 24.25% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on MPLX shares. Morgan Stanley cut their target price on Mplx from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 20th. Zacks Research upgraded Mplx from a “strong sell” rating to a “hold” rating in a research note on Friday, June 5th. Barclays upped their price target on Mplx from $58.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. The Goldman Sachs Group increased their price objective on Mplx from $55.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Finally, UBS Group lifted their price objective on Mplx from $64.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, March 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Mplx presently has an average rating of “Moderate Buy” and a consensus price target of $61.60.

Mplx Price Performance

Shares of MPLX opened at $56.27 on Tuesday. The firm has a market cap of $57.10 billion, a PE ratio of 12.18, a P/E/G ratio of 5.42 and a beta of 0.48. 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 firm has a fifty day simple moving average of $55.81 and a two-hundred day simple moving average of $55.98. Mplx Lp has a 1-year low of $47.80 and a 1-year 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 for the quarter, missing the consensus estimate of $1.05 by ($0.15). Mplx had a net margin of 36.38% and a return on equity of 32.74%. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the previous year, the company earned $1.10 earnings per share. Mplx’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities analysts anticipate that Mplx Lp will post 4.22 EPS for the current year.

Mplx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were given a $1.0765 dividend. This represents a $4.31 annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend was Friday, May 8th. Mplx’s dividend payout ratio (DPR) 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.