Eagle Global Advisors LLC raised its position in shares of Mplx Lp (NYSE:MPLX) by 1.4% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,795,813 shares of the pipeline company’s stock after buying an additional 24,950 shares during the period. Mplx Lp accounts for approximately 1.7% of Eagle Global Advisors LLC’s portfolio, making the stock its 16th largest position. Eagle Global Advisors LLC owned 0.48% of Mplx Lp worth $59,980,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the stock. Linscomb & Williams Inc. raised its position in shares of Mplx Lp by 0.3% in the first quarter. Linscomb & Williams Inc. now owns 13,990 shares of the pipeline company’s stock worth $505,000 after buying an additional 41 shares during the last quarter. Signaturefd LLC raised its position in shares of Mplx Lp 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 last quarter. Keybank National Association OH raised its position in shares of Mplx Lp 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 last quarter. Pinnacle Associates Ltd. raised its position in shares of Mplx Lp 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 last quarter. Finally, Suntrust Banks Inc. raised its position in shares of Mplx Lp 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 last quarter. 66.81% of the stock is owned by hedge funds and other institutional investors.
Mplx Lp (NYSE:MPLX) traded up 1.01% during mid-day trading on Friday, hitting $32.89. The company had a trading volume of 627,167 shares. The company’s 50 day moving average price is $34.75 and its 200-day moving average price is $35.42. The firm has a market capitalization of $12.78 billion, a PE ratio of 39.30 and a beta of 1.35. Mplx Lp has a 12-month low of $30.09 and a 12-month high of $39.43.
Mplx Lp (NYSE:MPLX) last posted its earnings results on Thursday, July 27th. The pipeline company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.10. Mplx Lp 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 analyst estimates of $884.70 million. During the same quarter in the prior year, the business posted ($0.11) EPS. The firm’s revenue was up 31.2% compared to the same quarter last year. On average, analysts forecast that Mplx Lp will post $0.97 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, August 7th were issued a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date of this dividend was Thursday, August 3rd. This is a positive change from Mplx Lp’s previous quarterly dividend of $0.44. Mplx Lp’s dividend payout ratio is currently 271.09%.
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Several research analysts have recently issued reports on MPLX shares. BidaskClub lowered Mplx Lp from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Zacks Investment Research upgraded Mplx Lp from a “sell” rating to a “hold” rating in a research report on Thursday, May 18th. Royal Bank Of Canada restated a “buy” rating on shares of Mplx Lp in a research report on Friday, July 28th. TheStreet upgraded Mplx Lp from a “c” rating to a “b-” rating in a research report on Friday, April 28th. Finally, Scotiabank set a $44.00 target price on Mplx Lp and gave the stock a “buy” rating in a report on Saturday, July 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Mplx Lp has an average rating of “Buy” and a consensus target price of $42.55.
In other Mplx Lp news, CEO Gary R. Heminger bought 9,000 shares of the stock in a transaction that occurred on Monday, June 12th. The shares were bought at an average price of $33.26 per share, for a total transaction of $299,340.00. Following the acquisition, the chief executive officer now directly owns 167,896 shares of the company’s stock, valued at approximately $5,584,220.96. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Mplx Lp 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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