BROOKFIELD Corp ON Sells 786,014 Shares of Mplx Lp $MPLX

BROOKFIELD Corp ON cut its position in Mplx Lp (NYSE:MPLX) by 26.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,173,816 shares of the pipeline company’s stock after selling 786,014 shares during the quarter. Mplx comprises 0.2% of BROOKFIELD Corp ON’s investment portfolio, making the stock its 20th biggest position. BROOKFIELD Corp ON’s holdings in Mplx were worth $124,060,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Assetmark Inc. increased its holdings in shares of Mplx by 81.5% in the first quarter. Assetmark Inc. now owns 559 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 251 shares during the period. EQ Wealth Advisors LLC bought a new stake in Mplx during the fourth quarter valued at $32,000. Wiser Advisor Group LLC purchased a new position in Mplx during the third quarter worth about $38,000. Prosperity Bancshares Inc purchased a new position in Mplx during the fourth quarter worth about $43,000. Finally, Groesbeck Investment Management Corp NJ bought a new position in Mplx in the 4th quarter worth about $49,000. 24.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MPLX has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their price target on Mplx from $55.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Morgan Stanley dropped their target price on shares of Mplx from $62.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 20th. Wall Street Zen cut shares of Mplx from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Royal Bank Of Canada reissued an “outperform” rating and issued a $60.00 price target on shares of Mplx in a report on Thursday, July 2nd. Finally, Barclays raised their price objective on shares of Mplx from $58.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.60.

Mplx Stock Performance

NYSE:MPLX opened at $58.74 on Monday. The company has a market capitalization of $59.61 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 5.66 and a beta of 0.47. The business has a 50 day moving average of $56.47 and a 200 day moving average of $56.39. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.10 and a quick ratio of 1.05. Mplx Lp has a 1-year low of $47.80 and a 1-year high of $59.98.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.15). The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $3.09 billion. Mplx had a net margin of 36.38% and a return on equity of 32.74%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.10 earnings per share. On average, sell-side analysts predict that Mplx Lp will post 4.19 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were paid a $1.0765 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $4.31 dividend on an annualized basis and a dividend yield of 7.3%. Mplx’s dividend payout ratio is 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.