Citigroup Inc. Has $30.32 Million Stock Position in Mplx Lp $MPLX

Citigroup Inc. lifted its holdings in Mplx Lp (NYSE:MPLX) by 30.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 606,927 shares of the pipeline company’s stock after acquiring an additional 140,697 shares during the period. Citigroup Inc. owned approximately 0.06% of Mplx worth $30,316,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Bank of America Corp DE boosted its holdings in Mplx by 8.3% in the 2nd quarter. Bank of America Corp DE now owns 9,873,619 shares of the pipeline company’s stock valued at $508,590,000 after purchasing an additional 757,569 shares during the period. Natixis raised its position in shares of Mplx by 1,585.3% in the second quarter. Natixis now owns 403,758 shares of the pipeline company’s stock valued at $20,798,000 after buying an additional 379,800 shares in the last quarter. Merewether Investment Management LP bought a new stake in shares of Mplx in the second quarter valued at approximately $16,988,000. Alps Advisors Inc. grew its position in Mplx by 1.2% during the third quarter. Alps Advisors Inc. now owns 26,409,654 shares of the pipeline company’s stock worth $1,319,162,000 after buying an additional 325,451 shares in the last quarter. Finally, Energy Income Partners LLC increased its stake in Mplx by 4.5% during the 2nd quarter. Energy Income Partners LLC now owns 5,541,795 shares of the pipeline company’s stock worth $285,458,000 after acquiring an additional 236,932 shares during the period. 24.25% of the stock is owned by institutional investors.

Mplx Stock Down 0.6%

Shares of NYSE:MPLX opened at $58.55 on Thursday. Mplx Lp has a 52-week low of $44.60 and a 52-week high of $59.25. The company has a market capitalization of $59.55 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 5.28 and a beta of 0.57. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.26 and a current ratio of 1.31. The company has a fifty day moving average of $55.23 and a 200-day moving average of $52.70.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, February 3rd. The pipeline company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.07. Mplx had a return on equity of 34.56% and a net margin of 37.79%.The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter last year, the business posted $1.07 EPS. Mplx’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities analysts predict that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 9th were paid a $1.0765 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $4.31 annualized dividend and a dividend yield of 7.4%. Mplx’s dividend payout ratio is currently 89.42%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MPLX. Raymond James Financial downgraded Mplx from an “outperform” rating to a “market perform” rating in a research report on Monday, January 5th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Mplx in a research note on Monday, December 29th. Morgan Stanley raised their target price on shares of Mplx from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Tuesday, November 25th. Barclays upped their price target on shares of Mplx from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Finally, Citigroup lifted their price objective on shares of Mplx from $54.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.29.

Mplx Company Profile

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.