Obermeyer Wood Investment Counsel Lllp cut its holdings in shares of Mplx Lp (NYSE:MPLX) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 222,133 shares of the pipeline company’s stock after selling 3,319 shares during the period. Obermeyer Wood Investment Counsel Lllp’s holdings in Mplx were worth $7,704,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the business. Stratos Wealth Partners LTD. bought a new stake in shares of Mplx in the 3rd quarter valued at about $133,000. Destination Wealth Management increased its stake in shares of Mplx by 319.9% in the 2nd quarter. Destination Wealth Management now owns 5,614 shares of the pipeline company’s stock valued at $192,000 after acquiring an additional 4,277 shares during the last quarter. Searle & CO. bought a new stake in shares of Mplx in the 2nd quarter valued at about $201,000. SL Advisors LLC bought a new stake in shares of Mplx in the 3rd quarter valued at about $203,000. Finally, Schmidt P J Investment Management Inc. bought a new stake in shares of Mplx in the 2nd quarter valued at about $205,000. Institutional investors own 31.03% of the company’s stock.
MPLX has been the subject of a number of recent analyst reports. Citigroup lowered their price target on Mplx from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, November 29th. Zacks Investment Research raised Mplx from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Wednesday, November 28th. Bank of America increased their target price on Mplx from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, November 2nd. Goldman Sachs Group reissued a “neutral” rating on shares of Mplx in a research note on Tuesday, October 9th. Finally, Credit Suisse Group initiated coverage on Mplx in a research note on Thursday, October 11th. They set an “outperform” rating and a $45.00 target price for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. Mplx currently has an average rating of “Buy” and a consensus price target of $39.69.
NYSE MPLX traded down $0.22 during trading hours on Wednesday, reaching $34.24. 2,165,011 shares of the company’s stock were exchanged, compared to its average volume of 1,502,397. Mplx Lp has a one year low of $31.60 and a one year high of $39.38. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.70 and a current ratio of 0.77. The stock has a market cap of $26.31 billion, a price-to-earnings ratio of 32.30, a PEG ratio of 2.37 and a beta of 1.30.
Mplx (NYSE:MPLX) last issued its quarterly earnings results on Thursday, November 1st. The pipeline company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.04. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Mplx had a net margin of 27.99% and a return on equity of 21.03%. The business’s quarterly revenue was up 74.7% on a year-over-year basis. During the same period last year, the business earned $0.29 EPS. On average, analysts predict that Mplx Lp will post 2.43 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Monday, November 5th were paid a dividend of $0.6375 per share. This is a boost from Mplx’s previous quarterly dividend of $0.44. This represents a $2.55 annualized dividend and a dividend yield of 7.45%. The ex-dividend date was Friday, November 2nd. Mplx’s dividend payout ratio (DPR) is currently 240.57%.
MPLX LP owns, operates, develops, and acquires midstream energy infrastructure assets. It operates in two segments, Logistics and Storage, and Gathering and Processing segments. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids (NGLs); and gathering, transportation, and storage of crude oil and refined petroleum products.
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