CIBC Bancorp USA Inc. Takes $134.32 Million Position in Mplx Lp $MPLX

CIBC Bancorp USA Inc. bought a new stake in Mplx Lp (NYSE:MPLX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,689,070 shares of the pipeline company’s stock, valued at approximately $134,319,000. CIBC Bancorp USA Inc. owned approximately 0.26% of Mplx at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MPLX. Bank of America Corp DE increased its holdings in Mplx by 8.3% in the 2nd quarter. Bank of America Corp DE now owns 9,873,619 shares of the pipeline company’s stock valued at $508,590,000 after buying an additional 757,569 shares during the period. Natixis lifted its holdings in shares of Mplx by 1,585.3% during the 2nd quarter. Natixis now owns 403,758 shares of the pipeline company’s stock worth $20,798,000 after acquiring an additional 379,800 shares during the period. Merewether Investment Management LP bought a new position in shares of Mplx during the 2nd quarter worth about $16,988,000. Alps Advisors Inc. boosted its position in shares of Mplx by 1.2% during the 3rd quarter. Alps Advisors Inc. now owns 26,409,654 shares of the pipeline company’s stock valued at $1,319,162,000 after acquiring an additional 325,451 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Mplx by 4.4% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,060,024 shares of the pipeline company’s stock valued at $352,648,000 after acquiring an additional 300,321 shares in the last quarter. 24.25% of the stock is owned by institutional investors.

Mplx Stock Up 0.3%

NYSE:MPLX opened at $58.29 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.23 and a debt-to-equity ratio of 1.66. Mplx Lp has a 12-month low of $44.60 and a 12-month high of $59.84. The stock’s fifty day simple moving average is $56.63 and its 200-day simple moving average is $53.54. The firm has a market capitalization of $59.18 billion, a P/E ratio of 12.09, a P/E/G ratio of 5.28 and a beta of 0.56.

Mplx (NYSE:MPLX) last released its quarterly earnings data on Tuesday, February 3rd. The pipeline company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.07. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.23 billion. Mplx had a return on equity of 34.37% and a net margin of 37.79%.The firm’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.07 earnings per share. Equities research analysts expect that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on MPLX. Morgan Stanley increased their price target on shares of Mplx from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. UBS Group lifted their price objective on Mplx from $64.00 to $73.00 and gave the company a “buy” rating in a report on Monday. JPMorgan Chase & Co. upped their price objective on Mplx from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, March 10th. Weiss Ratings reissued a “buy (a-)” rating on shares of Mplx in a report on Monday, December 29th. Finally, Citigroup raised their target price on Mplx from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Mplx presently has an average rating of “Moderate Buy” and a consensus target price of $60.88.

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.