PNC Financial Services Group Inc. Has $5.65 Million Stock Position in Mplx Lp $MPLX

PNC Financial Services Group Inc. increased its stake in Mplx Lp (NYSE:MPLX) by 21.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 113,023 shares of the pipeline company’s stock after buying an additional 20,229 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Mplx were worth $5,645,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC raised its position in Mplx by 4.1% during the first quarter. NewEdge Advisors LLC now owns 24,049 shares of the pipeline company’s stock worth $1,287,000 after acquiring an additional 939 shares in the last quarter. CWM LLC increased its stake in shares of Mplx by 177.8% during the 2nd quarter. CWM LLC now owns 1,711 shares of the pipeline company’s stock worth $88,000 after purchasing an additional 1,095 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Mplx by 22.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 16,198 shares of the pipeline company’s stock valued at $832,000 after purchasing an additional 2,998 shares during the period. Private Trust Co. NA lifted its stake in Mplx by 64.2% in the 2nd quarter. Private Trust Co. NA now owns 2,000 shares of the pipeline company’s stock valued at $103,000 after purchasing an additional 782 shares during the last quarter. Finally, D.A. Davidson & CO. grew its holdings in Mplx by 6.4% during the second quarter. D.A. Davidson & CO. now owns 28,900 shares of the pipeline company’s stock worth $1,489,000 after purchasing an additional 1,743 shares during the period. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Mplx Stock Performance

Shares of NYSE:MPLX opened at $57.39 on Friday. Mplx Lp has a 12-month low of $44.60 and a 12-month high of $58.27. The company’s 50 day moving average price is $54.90 and its two-hundred day moving average price is $52.48. The firm has a market cap of $58.36 billion, a PE ratio of 11.91, a PEG ratio of 5.09 and a beta of 0.57. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 1.66.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, February 3rd. The pipeline company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.07. The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Mplx had a return on equity of 34.56% and a net margin of 37.79%.The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.07 earnings per share. Equities research analysts predict that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 9th were given a dividend of $1.0765 per share. This represents a $4.31 dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date was Monday, February 9th. Mplx’s dividend payout ratio is presently 89.42%.

Analyst Ratings Changes

MPLX has been the topic of several research analyst reports. Citigroup upped their price objective on Mplx from $54.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Morgan Stanley increased their price target on Mplx from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 25th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Mplx in a report on Monday, December 29th. Royal Bank Of Canada upped their price objective on shares of Mplx from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, November 21st. Finally, Raymond James Financial lowered shares of Mplx from an “outperform” rating to a “market perform” rating in a research report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $58.29.

Mplx 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.