Raymond James Trust N.A. purchased a new position in Mplx Lp (NYSE:MPLX – Get Rating) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 6,960 shares of the pipeline company’s stock, valued at approximately $209,000.
Other institutional investors have also modified their holdings of the company. Cetera Advisors LLC lifted its stake in shares of Mplx by 15.0% in the second quarter. Cetera Advisors LLC now owns 10,797 shares of the pipeline company’s stock worth $315,000 after acquiring an additional 1,407 shares in the last quarter. AE Wealth Management LLC lifted its stake in shares of Mplx by 106.7% in the second quarter. AE Wealth Management LLC now owns 74,355 shares of the pipeline company’s stock worth $2,167,000 after acquiring an additional 38,378 shares in the last quarter. US Bancorp DE lifted its stake in shares of Mplx by 2.8% in the second quarter. US Bancorp DE now owns 48,584 shares of the pipeline company’s stock worth $1,417,000 after acquiring an additional 1,342 shares in the last quarter. Adams Asset Advisors LLC raised its stake in Mplx by 1.7% during the third quarter. Adams Asset Advisors LLC now owns 189,309 shares of the pipeline company’s stock valued at $5,681,000 after buying an additional 3,077 shares in the last quarter. Finally, Jackson Hole Capital Partners LLC lifted its holdings in Mplx by 6.4% during the 2nd quarter. Jackson Hole Capital Partners LLC now owns 43,535 shares of the pipeline company’s stock worth $1,269,000 after buying an additional 2,630 shares during the last quarter. Institutional investors and hedge funds own 23.62% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have commented on the company. Wells Fargo & Company reduced their target price on Mplx from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, November 7th. Citigroup assumed coverage on Mplx in a report on Thursday, December 8th. They set a “neutral” rating and a $33.50 target price on the stock. Wolfe Research raised Mplx from a “peer perform” rating to an “outperform” rating and set a $36.00 target price on the stock in a report on Monday, January 9th. Bank Of America (Bofa) downgraded Mplx to an “underperform” rating in a report on Thursday, September 29th. Finally, StockNews.com downgraded Mplx from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 15th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.31.
Mplx Trading Down 0.1 %
Mplx (NYSE:MPLX – Get Rating) last issued its quarterly earnings data on Tuesday, November 1st. The pipeline company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.15. Mplx had a return on equity of 30.60% and a net margin of 33.87%. The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $2.76 billion. Equities research analysts predict that Mplx Lp will post 3.86 EPS for the current year.
Mplx Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 22nd. Investors of record on Tuesday, November 15th were issued a $0.775 dividend. This represents a $3.10 dividend on an annualized basis and a yield of 9.09%. This is a positive change from Mplx’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Monday, November 14th. Mplx’s dividend payout ratio is 82.67%.
Mplx Company Profile
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.
- Get a free copy of the StockNews.com research report on Mplx (MPLX)
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