Walter & Keenan Financial Consulting Co. MI ADV continued to hold its position in shares of MPLX LP (NYSE:MPLX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,000 shares of the pipeline company’s stock at the end of the second quarter. Walter & Keenan Financial Consulting Co. MI ADV’s holdings in MPLX were worth $334,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in shares of MPLX by 9.5% in the first quarter. JPMorgan Chase & Co. now owns 4,915,070 shares of the pipeline company’s stock worth $177,336,000 after buying an additional 427,617 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of MPLX by 4.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 147,186 shares of the pipeline company’s stock worth $5,310,000 after buying an additional 6,760 shares during the period. American International Group Inc. purchased a new position in shares of MPLX during the first quarter worth about $567,000. Oppenheimer & Co. Inc. boosted its position in shares of MPLX by 3.4% in the first quarter. Oppenheimer & Co. Inc. now owns 25,703 shares of the pipeline company’s stock worth $928,000 after buying an additional 837 shares during the period. Finally, Advisory Services Network LLC purchased a new position in shares of MPLX during the first quarter worth about $330,000. 69.59% of the stock is currently owned by institutional investors and hedge funds.
Shares of MPLX LP (NYSE MPLX) opened at 34.46 on Thursday. The company has a market cap of $12.91 billion, a PE ratio of 41.17 and a beta of 1.35. The firm’s 50 day moving average is $34.53 and its 200-day moving average is $35.62. MPLX LP has a 1-year low of $30.09 and a 1-year high of $39.43.
MPLX (NYSE:MPLX) last posted its earnings results on Thursday, July 27th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $916 million for the quarter, compared to analysts’ expectations of $884.70 million. During the same period in the prior year, the company posted ($0.11) EPS. The business’s revenue for the quarter was up 31.2% compared to the same quarter last year. Equities analysts expect that MPLX LP will post $0.97 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be paid a $0.5625 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This is a boost from MPLX’s previous quarterly dividend of $0.44. This represents a $2.25 annualized dividend and a yield of 6.53%. MPLX’s dividend payout ratio is currently 271.09%.
MPLX has been the topic of a number of recent analyst reports. Jefferies Group LLC reissued a “buy” rating and issued a $44.00 price objective on shares of MPLX in a research note on Wednesday, April 19th. BidaskClub raised shares of MPLX from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Zacks Investment Research cut shares of MPLX from a “hold” rating to a “sell” rating in a research note on Friday, May 12th. Royal Bank Of Canada reissued a “buy” rating on shares of MPLX in a research note on Friday, July 28th. Finally, TheStreet raised shares of MPLX from a “c” rating to a “b-” rating in a research note on Friday, April 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $42.55.
In other news, CEO Gary R. Heminger bought 9,000 shares of the stock in a transaction on Monday, June 12th. The shares were acquired at an average cost of $33.26 per share, for a total transaction of $299,340.00. Following the purchase, the chief executive officer now directly owns 167,896 shares of the company’s stock, valued at approximately $5,584,220.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
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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