Parkside Financial Bank & Trust increased its holdings in Mplx Lp (NYSE:MPLX) by 53.1% in the third quarter, HoldingsChannel reports. The firm owned 49,377 shares of the pipeline company’s stock after purchasing an additional 17,125 shares during the period. Parkside Financial Bank & Trust’s holdings in Mplx were worth $1,383,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Mcmillion Capital Management Inc. acquired a new position in Mplx during the 2nd quarter worth $113,000. Cadence Capital Management LLC raised its position in Mplx by 67.3% in the third quarter. Cadence Capital Management LLC now owns 945,960 shares of the pipeline company’s stock worth $6,496,000 after purchasing an additional 380,366 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Mplx by 21.4% in the third quarter. Envestnet Asset Management Inc. now owns 73,372 shares of the pipeline company’s stock worth $2,055,000 after purchasing an additional 12,954 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in Mplx by 183.9% in the third quarter. CIBC Private Wealth Group LLC now owns 9,511,080 shares of the pipeline company’s stock worth $266,404,000 after purchasing an additional 6,161,044 shares in the last quarter. Finally, Berman Capital Advisors LLC raised its position in Mplx by 146.2% in the second quarter. Berman Capital Advisors LLC now owns 975 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 579 shares in the last quarter. Hedge funds and other institutional investors own 24.28% of the company’s stock.
Mplx stock traded down $0.17 during trading hours on Friday, hitting $24.75. 2,718,906 shares of the stock were exchanged, compared to its average volume of 2,127,089. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.68 and a current ratio of 0.65. The stock has a market capitalization of $26.35 billion, a P/E ratio of 10.81 and a beta of 1.07. Mplx Lp has a 12 month low of $24.33 and a 12 month high of $35.85. The business’s 50-day moving average is $27.26 and its two-hundred day moving average is $29.63.
Mplx (NYSE:MPLX) last issued its quarterly earnings data on Thursday, October 31st. The pipeline company reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.02. The firm had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Mplx had a net margin of 28.17% and a return on equity of 21.25%. The company’s quarterly revenue was up 33.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 earnings per share. On average, equities analysts predict that Mplx Lp will post 2.41 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be paid a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a yield of 10.95%. This is a boost from Mplx’s previous quarterly dividend of $0.44. The ex-dividend date is Friday, November 1st. Mplx’s dividend payout ratio is currently 118.34%.
MPLX has been the subject of several recent research reports. Raymond James dropped their price target on shares of Mplx from $34.00 to $32.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Scotiabank initiated coverage on shares of Mplx in a research report on Tuesday, September 3rd. They issued an “outperform” rating and a $36.00 price target for the company. Citigroup dropped their price target on shares of Mplx from $40.00 to $32.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Barclays reissued an “overweight” rating and issued a $33.00 price target on shares of Mplx in a research report on Monday, August 19th. Finally, Royal Bank of Canada set a $33.00 price target on shares of Mplx and gave the stock a “buy” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $35.50.
Mplx Company Profile
MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. The company also provides fuels distribution services. 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; and transportation, storage, and distribution of crude oil and refined petroleum products.
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