M&T Bank Corp Reduces Holdings in Mplx Lp (NYSE:MPLX)

M&T Bank Corp reduced its position in Mplx Lp (NYSE:MPLX) by 36.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,494 shares of the pipeline company’s stock after selling 16,000 shares during the period. M&T Bank Corp’s holdings in Mplx were worth $1,471,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of MPLX. VSM Wealth Advisory LLC bought a new position in Mplx during the 4th quarter valued at $31,000. Rossby Financial LCC acquired a new stake in shares of Mplx in the 1st quarter valued at about $33,000. JFS Wealth Advisors LLC bought a new position in shares of Mplx during the first quarter worth about $37,000. MorganRosel Wealth Management LLC acquired a new position in Mplx in the first quarter worth about $48,000. Finally, Generali Asset Management SPA SGR bought a new stake in Mplx in the fourth quarter valued at about $56,000. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MPLX has been the topic of a number of research analyst reports. Barclays increased their target price on Mplx from $52.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday. Royal Bank Of Canada raised their price objective on Mplx from $55.00 to $58.00 and gave the stock an “outperform” rating in a research note on Monday, March 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Mplx presently has an average rating of “Moderate Buy” and a consensus target price of $55.63.

Mplx Trading Up 0.5%

NYSE:MPLX opened at $50.71 on Monday. The firm has a market capitalization of $51.76 billion, a P/E ratio of 11.71, a P/E/G ratio of 1.58 and a beta of 0.73. The business has a 50 day simple moving average of $50.98 and a 200 day simple moving average of $51.35. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 1.04. Mplx Lp has a 12-month low of $39.95 and a 12-month high of $54.87.

Mplx (NYSE:MPLX) last announced its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.03. Mplx had a net margin of 36.34% and a return on equity of 32.08%. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities research analysts predict that Mplx Lp will post 4.41 EPS for the current year.

Mplx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 9th were given a $0.9565 dividend. This represents a $3.83 annualized dividend and a yield of 7.54%. The ex-dividend date was Friday, May 9th. Mplx’s dividend payout ratio (DPR) is 88.22%.

Mplx Profile

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Crude Oil and Products Logistics and Natural Gas and NGL Services segments. The Crude Oil and Products Logistics segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.