Mplx Lp $MPLX Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lowered its stake in Mplx Lp (NYSE:MPLX) by 1.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,688,090 shares of the pipeline company’s stock after selling 35,979 shares during the period. CIBC Private Wealth Group LLC owned 0.26% of Mplx worth $134,270,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Chickasaw Capital Management LLC lifted its position in Mplx by 2.2% during the 3rd quarter. Chickasaw Capital Management LLC now owns 5,611,824 shares of the pipeline company’s stock worth $280,311,000 after acquiring an additional 120,216 shares during the period. Caprock Group LLC acquired a new position in shares of Mplx in the third quarter valued at about $2,698,000. Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Mplx in the third quarter worth about $990,000. Bridges Investment Management Inc. raised its stake in shares of Mplx by 53.2% in the third quarter. Bridges Investment Management Inc. now owns 103,351 shares of the pipeline company’s stock worth $5,162,000 after purchasing an additional 35,869 shares during the last quarter. Finally, Natixis lifted its holdings in shares of Mplx by 1,585.3% during the second quarter. Natixis now owns 403,758 shares of the pipeline company’s stock worth $20,798,000 after purchasing an additional 379,800 shares during the period. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on MPLX shares. Stifel Nicolaus upped their target price on Mplx from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Raymond James Financial lowered shares of Mplx from an “outperform” rating to a “market perform” rating in a research report on Monday, January 5th. JPMorgan Chase & Co. lifted their price objective on shares of Mplx from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, March 10th. Royal Bank Of Canada upped their price objective on shares of Mplx from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, November 21st. Finally, Citigroup increased their price objective on shares of Mplx from $54.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.88.

Mplx Stock Up 0.3%

Mplx stock opened at $58.29 on Wednesday. The firm has a market cap of $59.18 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 5.28 and a beta of 0.56. Mplx Lp has a 52 week low of $44.60 and a 52 week high of $59.84. The business’s 50-day moving average price is $56.63 and its 200 day moving average price is $53.54. 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 (NYSE:MPLX) last announced its quarterly earnings results on Tuesday, February 3rd. The pipeline company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.07. Mplx had a return on equity of 34.37% and a net margin of 37.79%.The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.23 billion. During the same period in the previous year, the company posted $1.07 earnings per share. Mplx’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Dividend Announcement

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

Mplx Company 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.