Dividend Assets Capital LLC lowered its position in shares of MPLX LP (NYSE:MPLX) by 20.5% during the second quarter, Holdings Channel reports. The firm owned 9,970 shares of the pipeline company’s stock after selling 2,578 shares during the period. Dividend Assets Capital LLC’s holdings in MPLX were worth $333,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. First Trust Advisors LP bought a new stake in shares of MPLX during the second quarter worth $5,064,000. TradeLink Capital LLC bought a new stake in shares of MPLX during the second quarter worth $671,000. Boston Partners raised its stake in shares of MPLX by 11.2% in the second quarter. Boston Partners now owns 567,359 shares of the pipeline company’s stock worth $18,950,000 after buying an additional 57,024 shares during the period. Joel Isaacson & Co. LLC bought a new stake in shares of MPLX during the second quarter worth $334,000. Finally, Tortoise Capital Advisors L.L.C. raised its stake in shares of MPLX by 1.1% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 19,105,648 shares of the pipeline company’s stock worth $638,129,000 after buying an additional 202,094 shares during the period. 66.81% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MPLX LP (MPLX) opened at 33.35 on Monday. MPLX LP has a 12-month low of $30.09 and a 12-month high of $39.43. The firm has a 50-day moving average of $34.67 and a 200 day moving average of $35.58. The stock has a market capitalization of $12.96 billion, a price-to-earnings ratio of 39.84 and a beta of 1.35.
MPLX (NYSE:MPLX) last announced its quarterly earnings results on Thursday, July 27th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.10. MPLX had a net margin of 19.07% and a return on equity of 6.13%. The company had revenue of $916 million for the quarter, compared to the consensus estimate of $884.70 million. During the same quarter in the prior year, the firm earned ($0.11) earnings per share. The company’s revenue for the quarter was up 31.2% compared to the same quarter last year. Equities analysts forecast that MPLX LP will post $0.97 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be issued a $0.5625 dividend. This represents a $2.25 annualized dividend and a dividend yield of 6.75%. The ex-dividend date of this dividend is Thursday, August 3rd. This is an increase from MPLX’s previous quarterly dividend of $0.44. MPLX’s dividend payout ratio is 271.09%.
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A number of equities research analysts have recently weighed in on the stock. BidaskClub lowered shares of MPLX from a “buy” rating to a “hold” rating in a report on Sunday, August 6th. Royal Bank Of Canada reissued a “buy” rating on shares of MPLX in a report on Friday, July 28th. Scotiabank set a $44.00 price objective on shares of MPLX and gave the company a “buy” rating in a report on Saturday, July 22nd. Guggenheim assumed coverage on shares of MPLX in a report on Thursday, July 20th. They set a “buy” rating and a $40.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of MPLX from a “hold” rating to a “strong sell” rating in a report on Saturday, July 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $42.55.
In other MPLX news, CEO Gary R. Heminger purchased 9,000 shares of MPLX stock in a transaction on Monday, June 12th. The shares were bought 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 of the company’s stock, valued at $5,584,220.96. The transaction was disclosed in a document filed with the SEC, which is available through this link.
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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