Van ECK Associates Corp Reduces Holdings in Mplx Lp (NYSE:MPLX)

Van ECK Associates Corp trimmed its position in shares of Mplx Lp (NYSE:MPLXFree Report) by 22.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,673 shares of the pipeline company’s stock after selling 12,372 shares during the quarter. Van ECK Associates Corp’s holdings in Mplx were worth $1,815,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Mcdonald Partners LLC boosted its stake in Mplx by 1.5% during the first quarter. Mcdonald Partners LLC now owns 16,941 shares of the pipeline company’s stock worth $704,000 after buying an additional 256 shares during the period. Avalon Trust Co lifted its position in shares of Mplx by 23.4% during the fourth quarter. Avalon Trust Co now owns 1,711 shares of the pipeline company’s stock worth $63,000 after purchasing an additional 324 shares during the last quarter. PSI Advisors LLC lifted its position in shares of Mplx by 63.6% during the fourth quarter. PSI Advisors LLC now owns 900 shares of the pipeline company’s stock worth $33,000 after purchasing an additional 350 shares during the last quarter. Cherry Creek Investment Advisors Inc. lifted its position in shares of Mplx by 2.9% during the first quarter. Cherry Creek Investment Advisors Inc. now owns 13,648 shares of the pipeline company’s stock worth $567,000 after purchasing an additional 382 shares during the last quarter. Finally, Linscomb & Williams Inc. lifted its position in shares of Mplx by 2.5% during the fourth quarter. Linscomb & Williams Inc. now owns 15,948 shares of the pipeline company’s stock worth $586,000 after purchasing an additional 389 shares during the last quarter. 24.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MPLX has been the subject of several research analyst reports. StockNews.com downgraded Mplx from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 24th. Barclays lifted their price objective on Mplx from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Truist Financial lifted their price objective on Mplx from $43.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Stifel Nicolaus lifted their price objective on Mplx from $45.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, UBS Group lifted their price objective on Mplx from $46.00 to $49.00 and gave the company a “buy” rating in a report on Friday, April 12th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.11.

Check Out Our Latest Analysis on Mplx

Mplx Stock Performance

Shares of Mplx stock opened at $42.49 on Monday. The company has a market capitalization of $43.18 billion, a PE ratio of 10.95, a P/E/G ratio of 2.13 and a beta of 1.37. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.67 and a current ratio of 0.72. The company has a 50-day simple moving average of $41.27 and a two-hundred day simple moving average of $39.89. Mplx Lp has a one year low of $33.96 and a one year high of $43.07.

Mplx (NYSE:MPLXGet Free Report) last announced its earnings results on Tuesday, April 30th. The pipeline company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.89 billion. Mplx had a return on equity of 31.70% and a net margin of 34.96%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 earnings per share. Research analysts expect that Mplx Lp will post 4.01 EPS for the current fiscal year.

Mplx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 13th. Stockholders of record on Friday, May 3rd were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $3.40 dividend on an annualized basis and a dividend yield of 8.00%. Mplx’s payout ratio is 87.63%.

About Mplx

(Free Report)

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.

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Institutional Ownership by Quarter for Mplx (NYSE:MPLX)

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