American International Group Inc. bought a new stake in shares of Mplx Lp (NYSE:MPLX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 550,000 shares of the pipeline company’s stock, valued at approximately $566,000.
Several other institutional investors have also recently made changes to their positions in MPLX. The Manufacturers Life Insurance Company raised its holdings in shares of Mplx by 8.3% during the second quarter. The Manufacturers Life Insurance Company now owns 11,186 shares of the pipeline company’s stock valued at $374,000 after acquiring an additional 856 shares during the last quarter. Keybank National Association OH raised its holdings in shares of Mplx by 34.7% during the third quarter. Keybank National Association OH now owns 12,100 shares of the pipeline company’s stock valued at $424,000 after acquiring an additional 3,120 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Mplx by 20.6% during the third quarter. Jennison Associates LLC now owns 969,445 shares of the pipeline company’s stock valued at $33,940,000 after acquiring an additional 165,502 shares during the last quarter. Dividend Assets Capital LLC raised its holdings in shares of Mplx by 5,689.7% during the third quarter. Dividend Assets Capital LLC now owns 577,229 shares of the pipeline company’s stock valued at $20,209,000 after acquiring an additional 567,259 shares during the last quarter. Finally, CIBC Asset Management Inc raised its holdings in shares of Mplx by 29.7% during the third quarter. CIBC Asset Management Inc now owns 12,280 shares of the pipeline company’s stock valued at $430,000 after acquiring an additional 2,814 shares during the last quarter. 32.20% of the stock is owned by institutional investors and hedge funds.
Shares of Mplx Lp (MPLX) opened at $35.06 on Friday. Mplx Lp has a fifty-two week low of $30.88 and a fifty-two week high of $39.38. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.43 and a quick ratio of 0.48. The company has a market capitalization of $28,370.00, a P/E ratio of 33.39, a P/E/G ratio of 3.17 and a beta of 1.32.
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Monday, February 5th were issued a $0.6075 dividend. This represents a $2.43 annualized dividend and a dividend yield of 6.93%. The ex-dividend date was Friday, February 2nd. This is a boost from Mplx’s previous quarterly dividend of $0.44. Mplx’s dividend payout ratio (DPR) is currently 231.43%.
MPLX has been the subject of a number of research analyst reports. Bank of America initiated coverage on Mplx in a report on Tuesday, January 9th. They set a “buy” rating for the company. Royal Bank of Canada reissued a “buy” rating and set a $46.00 target price on shares of Mplx in a report on Wednesday, November 15th. Citigroup reissued a “buy” rating and set a $46.00 target price on shares of Mplx in a report on Friday, February 2nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $45.00 price target on shares of Mplx in a report on Thursday, February 1st. Finally, Barclays cut Mplx from an “overweight” rating to an “equal weight” rating and set a $39.00 price target for the company. in a report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $41.80.
In other Mplx news, VP Gregory Scott Floerke sold 2,000 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $37.00, for a total transaction of $74,000.00. Following the completion of the sale, the vice president now owns 77,598 shares of the company’s stock, valued at $2,871,126. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
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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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