Fifth Third Bancorp Has $177,000 Stock Position in Mplx Lp (NYSE:MPLX)

Fifth Third Bancorp lowered its position in shares of Mplx Lp (NYSE:MPLX) by 16.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,167 shares of the pipeline company’s stock after selling 833 shares during the quarter. Fifth Third Bancorp’s holdings in Mplx were worth $177,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Quent Capital LLC acquired a new position in Mplx during the 1st quarter valued at about $35,000. Pacifica Partners Inc. bought a new position in Mplx in the first quarter valued at approximately $41,000. Crewe Advisors LLC acquired a new stake in Mplx during the 1st quarter worth $41,000. Register Financial Advisors LLC acquired a new stake in Mplx during the 1st quarter worth $42,000. Finally, CWM LLC raised its position in shares of Mplx by 73.3% during the 2nd quarter. CWM LLC now owns 1,066 shares of the pipeline company’s stock valued at $45,000 after acquiring an additional 451 shares during the last quarter. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Trading Up 0.7 %

MPLX opened at $42.63 on Friday. The stock has a market capitalization of $43.32 billion, a P/E ratio of 10.99, a P/E/G ratio of 2.13 and a beta of 1.37. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 1.44. Mplx Lp has a 12 month low of $34.47 and a 12 month high of $43.42. The firm’s fifty day simple moving average is $42.16 and its 200 day simple moving average is $41.09.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.17. The company had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.96 billion. Mplx had a return on equity of 31.70% and a net margin of 34.96%. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 earnings per share. As a group, research analysts anticipate that Mplx Lp will post 4.02 EPS for the current fiscal year.

Mplx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 9th were paid a dividend of $0.85 per share. The ex-dividend date was Friday, August 9th. This represents a $3.40 annualized dividend and a dividend yield of 7.98%. Mplx’s dividend payout ratio is currently 87.63%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MPLX shares. StockNews.com raised Mplx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 11th. Wells Fargo & Company boosted their target price on Mplx from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Truist Financial increased their price target on shares of Mplx from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Barclays boosted their price objective on shares of Mplx from $43.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, July 12th. Finally, Stifel Nicolaus increased their target price on shares of Mplx from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Mplx presently has a consensus rating of “Buy” and an average 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.