Johnson Financial Group LLC purchased a new stake in MPLX LP (NYSE:MPLX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,612 shares of the pipeline company’s stock, valued at approximately $254,000.
Other large investors have also recently added to or reduced their stakes in the company. Linscomb & Williams Inc. boosted its stake in shares of MPLX by 0.3% in the first quarter. Linscomb & Williams Inc. now owns 13,990 shares of the pipeline company’s stock valued at $505,000 after buying an additional 41 shares during the last quarter. Signaturefd LLC raised its position in MPLX by 4.1% in the first quarter. Signaturefd LLC now owns 6,895 shares of the pipeline company’s stock worth $249,000 after buying an additional 270 shares during the period. Keybank National Association OH raised its position in MPLX by 3.3% in the first quarter. Keybank National Association OH now owns 8,735 shares of the pipeline company’s stock worth $315,000 after buying an additional 275 shares during the period. Pinnacle Associates Ltd. raised its position in MPLX by 5.8% in the first quarter. Pinnacle Associates Ltd. now owns 6,170 shares of the pipeline company’s stock worth $223,000 after buying an additional 337 shares during the period. Finally, Suntrust Banks Inc. raised its position in MPLX by 4.9% in the first quarter. Suntrust Banks Inc. now owns 8,016 shares of the pipeline company’s stock worth $289,000 after buying an additional 378 shares during the period. 69.59% of the stock is owned by hedge funds and other institutional investors.
Shares of MPLX LP (MPLX) traded down 0.71% during trading on Friday, hitting $33.35. The stock had a trading volume of 996,832 shares. The stock’s 50-day moving average price is $34.67 and its 200 day moving average price is $35.58. The stock has a market cap of $12.96 billion, a price-to-earnings ratio of 39.84 and a beta of 1.35. MPLX LP has a one year low of $30.09 and a one year high of $39.43.
MPLX (NYSE:MPLX) last posted its quarterly earnings data on Thursday, July 27th. The pipeline company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.10. The company had revenue of $916 million during the quarter, compared to analyst estimates of $884.70 million. MPLX had a net margin of 19.07% and a return on equity of 6.13%. The company’s revenue was up 31.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.11) earnings per share. On average, equities analysts forecast that MPLX LP will post $0.97 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, August 7th will be issued a $0.5625 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $2.25 dividend on an annualized basis and a dividend yield of 6.75%. This is a positive change from MPLX’s previous quarterly dividend of $0.44. MPLX’s dividend payout ratio (DPR) is currently 271.09%.
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MPLX has been the topic of several research reports. Zacks Investment Research raised MPLX from a “sell” rating to a “hold” rating in a research note on Thursday, May 18th. Jefferies Group LLC restated a “buy” rating and set a $44.00 price target on shares of MPLX in a research note on Wednesday, April 19th. BidaskClub upgraded MPLX from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. TheStreet raised MPLX from a “c” rating to a “b-” rating in a research note on Friday, April 28th. Finally, Scotiabank set a $44.00 price objective on MPLX and gave the company a “buy” rating in a research note on Saturday, July 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $42.55.
In related news, CEO Gary R. Heminger purchased 9,000 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was acquired at an average price of $33.26 per share, with a total value of $299,340.00. Following the completion of the acquisition, the chief executive officer now directly owns 167,896 shares in the company, valued at approximately $5,584,220.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
MPLX Company Profile
MPLX LP is a master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets. The Company is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids (NGLs), and the gathering, transportation and storage of crude oil and refined petroleum products.
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