Mplx Lp $MPLX Position Cut by Lido Advisors LLC

Lido Advisors LLC reduced its holdings in Mplx Lp (NYSE:MPLX) by 41.4% during the 1st quarter, Holdings Channel reports. The fund owned 37,155 shares of the pipeline company’s stock after selling 26,249 shares during the quarter. Lido Advisors LLC’s holdings in Mplx were worth $2,120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Miller Howard Investments Inc. NY lifted its holdings in Mplx by 2.5% in the fourth quarter. Miller Howard Investments Inc. NY now owns 2,315,921 shares of the pipeline company’s stock worth $123,601,000 after purchasing an additional 57,247 shares during the period. Merit Financial Group LLC increased its stake in Mplx by 126.0% during the 4th quarter. Merit Financial Group LLC now owns 43,234 shares of the pipeline company’s stock valued at $2,307,000 after buying an additional 24,107 shares during the period. Clearbridge Investments LLC increased its stake in Mplx by 7.9% during the 4th quarter. Clearbridge Investments LLC now owns 2,343,689 shares of the pipeline company’s stock valued at $125,083,000 after buying an additional 172,000 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in shares of Mplx by 8.7% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,883,800 shares of the pipeline company’s stock worth $100,538,000 after buying an additional 150,000 shares in the last quarter. Finally, Americana Partners LLC raised its position in shares of Mplx by 38.6% during the 4th quarter. Americana Partners LLC now owns 760,306 shares of the pipeline company’s stock worth $40,578,000 after buying an additional 211,694 shares in the last quarter. Institutional investors own 24.25% of the company’s stock.

Mplx Stock Performance

NYSE:MPLX opened at $58.74 on Monday. The company has a current ratio of 1.10, a quick ratio of 1.05 and a debt-to-equity ratio of 1.71. The company has a 50-day moving average of $56.47 and a 200-day moving average of $56.39. Mplx Lp has a twelve month low of $47.80 and a twelve month high of $59.98. The firm has a market cap of $59.61 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 5.66 and a beta of 0.47.

Mplx (NYSE:MPLX) last issued its earnings results on Tuesday, May 5th. The pipeline company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.15). The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $3.09 billion. Mplx had a return on equity of 32.74% and a net margin of 36.38%.The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.10 earnings per share. Analysts forecast that Mplx Lp will post 4.19 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were given a dividend of $1.0765 per share. This represents a $4.31 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date was Friday, May 8th. Mplx’s dividend payout ratio is 93.29%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of Mplx from $63.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Truist Financial dropped their target price on Mplx from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. The Goldman Sachs Group upped their target price on Mplx from $55.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Morgan Stanley decreased their price target on Mplx from $62.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 20th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $60.00 price target on shares of Mplx in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.60.

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.