Smith Moore & CO. trimmed its holdings in Mplx Lp (NYSE:MPLX) by 4.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,010 shares of the pipeline company’s stock after selling 1,350 shares during the quarter. Smith Moore & CO.’s holdings in Mplx were worth $948,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of MPLX. Tortoise Capital Advisors L.L.C. raised its holdings in shares of Mplx by 6,608.7% during the first quarter. Tortoise Capital Advisors L.L.C. now owns 18,712,587 shares of the pipeline company’s stock valued at $479,604,000 after acquiring an additional 18,433,656 shares during the period. Salient Capital Advisors LLC raised its stake in Mplx by 53.6% during the 1st quarter. Salient Capital Advisors LLC now owns 5,029,337 shares of the pipeline company’s stock valued at $128,902,000 after purchasing an additional 1,754,632 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Mplx by 36.2% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 2,615,810 shares of the pipeline company’s stock valued at $67,043,000 after purchasing an additional 694,837 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Mplx by 255.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 717,916 shares of the pipeline company’s stock worth $18,400,000 after buying an additional 515,736 shares during the period. Finally, Citigroup Inc. grew its holdings in shares of Mplx by 11.4% during the second quarter. Citigroup Inc. now owns 2,716,166 shares of the pipeline company’s stock valued at $80,425,000 after buying an additional 278,833 shares in the last quarter. 26.97% of the stock is owned by institutional investors.
A number of analysts have recently issued reports on MPLX shares. US Capital Advisors reissued an “overweight” rating on shares of Mplx in a research report on Tuesday, July 20th. Barclays raised their price target on shares of Mplx from $29.00 to $32.00 and gave the company an “overweight” rating in a report on Tuesday, May 18th. Wolfe Research cut shares of Mplx from an “outperform” rating to a “peer perform” rating and set a $30.00 price objective for the company. in a report on Friday, July 16th. They noted that the move was a valuation call. Morgan Stanley raised their target price on Mplx from $32.00 to $33.00 and gave the company an “equal weight” rating in a report on Friday, June 18th. Finally, Wells Fargo & Company upped their price target on Mplx from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, June 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Mplx presently has an average rating of “Buy” and a consensus price target of $29.37.
Mplx (NYSE:MPLX) last announced its quarterly earnings results on Wednesday, August 4th. The pipeline company reported $0.66 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.66. Mplx had a net margin of 30.35% and a return on equity of 22.71%. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the firm posted $0.58 earnings per share. The business’s revenue was up 15.1% on a year-over-year basis. Sell-side analysts forecast that Mplx Lp will post 2.73 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 13th. Stockholders of record on Friday, August 6th were issued a $0.6875 dividend. The ex-dividend date of this dividend was Thursday, August 5th. This represents a $2.75 dividend on an annualized basis and a dividend yield of 9.79%. Mplx’s dividend payout ratio (DPR) is 112.70%.
MPLX LP engages in the operation of midstream energy infrastructure and logistics assets; and distribution fuels services. It operates through the Logistics and Storage (L&S), and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products and water.
Want to see what other hedge funds are holding MPLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mplx Lp (NYSE:MPLX).
Receive News & Ratings for Mplx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mplx and related companies with MarketBeat.com's FREE daily email newsletter.