Janney Montgomery Scott LLC grew its stake in shares of Mplx Lp (NYSE:MPLX – Get Rating) by 7.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,088 shares of the pipeline company’s stock after buying an additional 2,163 shares during the period. Janney Montgomery Scott LLC’s holdings in Mplx were worth $933,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Cetera Advisors LLC lifted its position in shares of Mplx by 15.0% during the 2nd quarter. Cetera Advisors LLC now owns 10,797 shares of the pipeline company’s stock valued at $315,000 after buying an additional 1,407 shares in the last quarter. AE Wealth Management LLC lifted its position in shares of Mplx by 106.7% during the 2nd quarter. AE Wealth Management LLC now owns 74,355 shares of the pipeline company’s stock valued at $2,167,000 after buying an additional 38,378 shares in the last quarter. US Bancorp DE lifted its holdings in Mplx by 2.8% in the 2nd quarter. US Bancorp DE now owns 48,584 shares of the pipeline company’s stock worth $1,417,000 after purchasing an additional 1,342 shares in the last quarter. Adams Asset Advisors LLC lifted its holdings in Mplx by 1.7% in the 3rd quarter. Adams Asset Advisors LLC now owns 189,309 shares of the pipeline company’s stock worth $5,681,000 after purchasing an additional 3,077 shares in the last quarter. Finally, Jackson Hole Capital Partners LLC lifted its holdings in Mplx by 6.4% in the 2nd quarter. Jackson Hole Capital Partners LLC now owns 43,535 shares of the pipeline company’s stock worth $1,269,000 after purchasing an additional 2,630 shares in the last quarter. 23.62% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
MPLX has been the topic of a number of research analyst reports. Citigroup initiated coverage on Mplx in a report on Thursday, December 8th. They issued a “neutral” rating and a $33.50 price target on the stock. Wolfe Research raised Mplx from a “peer perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a report on Monday, January 9th. Wells Fargo & Company decreased their price objective on Mplx from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, November 7th. Morgan Stanley upped their price objective on Mplx from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Monday, January 9th. Finally, Bank Of America (Bofa) cut Mplx to an “underperform” rating in a report on Thursday, September 29th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $37.31.
Mplx Stock Performance
Mplx (NYSE:MPLX – Get Rating) last released its earnings results on Tuesday, November 1st. The pipeline company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.15. The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $2.76 billion. Mplx had a return on equity of 30.60% and a net margin of 33.87%. Sell-side analysts predict that Mplx Lp will post 3.86 earnings per share for the current year.
Mplx Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 22nd. Shareholders of record on Tuesday, November 15th were given a $0.775 dividend. This represents a $3.10 annualized dividend and a yield of 9.13%. The ex-dividend date of this dividend was Monday, November 14th. This is an increase from Mplx’s previous quarterly dividend of $0.71. Mplx’s dividend payout ratio is 82.67%.
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.
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