ORG Partners LLC Increases Stake in Mplx Lp (NYSE:MPLX)

ORG Partners LLC lifted its stake in shares of Mplx Lp (NYSE:MPLX) by 17.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 6,870 shares of the pipeline company’s stock after purchasing an additional 1,025 shares during the period. ORG Partners LLC’s holdings in Mplx were worth $295,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Sei Investments Co. increased its holdings in shares of Mplx by 47.4% in the 1st quarter. Sei Investments Co. now owns 51,740 shares of the pipeline company’s stock valued at $2,150,000 after acquiring an additional 16,637 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in Mplx by 170.6% during the fourth quarter. Allianz Asset Management GmbH now owns 637,100 shares of the pipeline company’s stock worth $23,394,000 after purchasing an additional 401,700 shares in the last quarter. Pingora Partners LLC purchased a new stake in shares of Mplx during the 4th quarter worth approximately $1,253,000. GSA Capital Partners LLP acquired a new position in shares of Mplx in the 1st quarter valued at $799,000. Finally, Miller Howard Investments Inc. NY grew its position in shares of Mplx by 1.0% in the 1st quarter. Miller Howard Investments Inc. NY now owns 2,385,733 shares of the pipeline company’s stock valued at $99,151,000 after buying an additional 22,734 shares during the last quarter. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Mplx Stock Performance

NYSE:MPLX traded up $0.79 during midday trading on Wednesday, reaching $41.41. The stock had a trading volume of 2,346,363 shares, compared to its average volume of 2,010,214. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 1.44. The stock has a market cap of $42.08 billion, a P/E ratio of 10.47, a P/E/G ratio of 2.13 and a beta of 1.37. The firm has a fifty day simple moving average of $41.98 and a two-hundred day simple moving average of $40.87. Mplx Lp has a 12-month low of $34.47 and a 12-month high of $43.42.

Mplx (NYSE:MPLX) last released its earnings results on Tuesday, August 6th. The pipeline company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.98 by $0.17. The company had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Mplx had a net margin of 34.96% and a return on equity of 31.70%. The business’s revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the business earned $0.91 EPS. On average, equities analysts expect that Mplx Lp will post 4.02 EPS for the current year.

Mplx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Friday, August 9th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 8.21%. The ex-dividend date of this dividend is Friday, August 9th. Mplx’s payout ratio is 87.63%.

Analysts Set New Price Targets

Several research firms have issued reports on MPLX. JPMorgan Chase & Co. upped their price objective on shares of Mplx from $45.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Stifel Nicolaus upped their target price on Mplx from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Wells Fargo & Company lifted their price target on Mplx from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. StockNews.com raised Mplx from a “buy” rating to a “strong-buy” rating in a report on Sunday. Finally, Truist Financial lifted their target price on shares of Mplx from $43.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $46.22.

Mplx Profile

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.