Mplx Lp $MPLX Position Lowered by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY trimmed its holdings in Mplx Lp (NYSE:MPLX) by 3.3% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 2,239,694 shares of the pipeline company’s stock after selling 76,227 shares during the quarter. Mplx comprises approximately 3.5% of Miller Howard Investments Inc. NY’s portfolio, making the stock its biggest position. Miller Howard Investments Inc. NY owned about 0.22% of Mplx worth $127,819,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Belfer Management LLC boosted its holdings in shares of Mplx by 2.4% during the 4th quarter. Belfer Management LLC now owns 7,849 shares of the pipeline company’s stock valued at $419,000 after acquiring an additional 181 shares during the last quarter. Trueblood Wealth Management LLC raised its holdings in shares of Mplx by 1.9% during the fourth quarter. Trueblood Wealth Management LLC now owns 9,736 shares of the pipeline company’s stock valued at $520,000 after purchasing an additional 186 shares during the last quarter. Wealthstar Advisors LLC raised its holdings in shares of Mplx by 1.5% during the fourth quarter. Wealthstar Advisors LLC now owns 12,598 shares of the pipeline company’s stock valued at $672,000 after purchasing an additional 190 shares during the last quarter. Cobblestone Capital Advisors LLC NY lifted its position in Mplx by 4.0% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 5,198 shares of the pipeline company’s stock valued at $260,000 after purchasing an additional 198 shares during the period. Finally, Federation des caisses Desjardins du Quebec boosted its holdings in Mplx by 3.8% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 5,658 shares of the pipeline company’s stock worth $302,000 after purchasing an additional 208 shares during the last quarter. Institutional investors own 24.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on MPLX. JPMorgan Chase & Co. lifted their target price on shares of Mplx from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 10th. Zacks Research raised Mplx from a “strong sell” rating to a “hold” rating in a report on Friday, June 5th. Wells Fargo & Company dropped their price target on Mplx from $63.00 to $61.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Barclays upped their price objective on Mplx from $58.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Finally, Truist Financial lowered their target price on Mplx from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.60.

Mplx Price Performance

Shares of NYSE:MPLX opened at $57.60 on Wednesday. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.10 and a quick ratio of 1.05. Mplx Lp has a 1-year low of $47.80 and a 1-year high of $59.98. The company has a market capitalization of $58.45 billion, a P/E ratio of 12.47, a P/E/G ratio of 5.46 and a beta of 0.48. The firm’s 50 day simple moving average is $55.72 and its two-hundred day simple moving average is $55.96.

Mplx (NYSE:MPLX) last posted its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.15). The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $3.09 billion. Mplx had a return on equity of 32.74% and a net margin of 36.38%.The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.10 earnings per share. Research analysts expect that Mplx Lp will post 4.22 EPS for the current fiscal year.

Mplx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were issued a $1.0765 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $4.31 annualized dividend and a yield of 7.5%. Mplx’s dividend payout ratio is currently 93.29%.

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.