JPMorgan Chase & Co. Reduces Holdings in Mplx Lp $MPLX

JPMorgan Chase & Co. decreased its position in shares of Mplx Lp (NYSE:MPLX) by 4.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,658,261 shares of the pipeline company’s stock after selling 209,052 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.46% of Mplx worth $232,680,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MPLX. Elevation Point Wealth Partners LLC bought a new position in Mplx during the second quarter worth about $26,000. FSC Wealth Advisors LLC bought a new stake in shares of Mplx in the second quarter valued at approximately $29,000. Operose Advisors LLC lifted its stake in shares of Mplx by 216.2% during the 2nd quarter. Operose Advisors LLC now owns 585 shares of the pipeline company’s stock valued at $30,000 after buying an additional 400 shares in the last quarter. Caldwell Trust Co bought a new position in Mplx in the 2nd quarter worth approximately $33,000. Finally, Root Financial Partners LLC bought a new position in Mplx in the 3rd quarter worth approximately $39,000. 24.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MPLX shares. JPMorgan Chase & Co. reissued a “neutral” rating and set a $57.00 target price on shares of Mplx in a report on Monday, December 1st. Morgan Stanley lifted their price target on Mplx from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 25th. Royal Bank Of Canada increased their price objective on Mplx from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, November 21st. Raymond James Financial downgraded Mplx from an “outperform” rating to a “market perform” rating in a research note on Monday, January 5th. Finally, Barclays lifted their target price on Mplx from $53.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, November 17th. 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $58.29.

Mplx Price Performance

NYSE:MPLX opened at $58.23 on Friday. The firm has a market capitalization of $59.22 billion, a price-to-earnings ratio of 12.08, a P/E/G ratio of 5.14 and a beta of 0.57. Mplx Lp has a 52-week low of $44.60 and a 52-week high of $58.56. The stock has a fifty day moving average of $54.97 and a 200 day moving average of $52.52. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.26 and a current ratio of 1.31.

Mplx (NYSE:MPLX) last announced its earnings results on Tuesday, February 3rd. The pipeline company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.07. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.23 billion. Mplx had a return on equity of 34.56% and a net margin of 37.79%.The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.07 EPS. On average, research analysts expect that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th were given a dividend of $1.0765 per share. The ex-dividend date was Monday, February 9th. This represents a $4.31 annualized dividend and a yield of 7.4%. Mplx’s payout ratio is presently 89.42%.

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.