SG Americas Securities LLC Sells 453 Shares of Mplx Lp (MPLX)
SG Americas Securities LLC decreased its stake in shares of Mplx Lp (NYSE:MPLX) by 1.5% in the first quarter, Holdings Channel reports. The institutional investor owned 30,176 shares of the pipeline company’s stock after selling 453 shares during the quarter. SG Americas Securities LLC’s holdings in Mplx were worth $992,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Tortoise Index Solutions LLC raised its stake in Mplx by 110.5% during the fourth quarter. Tortoise Index Solutions LLC now owns 104,242 shares of the pipeline company’s stock valued at $3,159,000 after buying an additional 54,725 shares during the last quarter. Energy Income Partners LLC raised its stake in shares of Mplx by 19.1% in the fourth quarter. Energy Income Partners LLC now owns 1,556,537 shares of the pipeline company’s stock worth $47,163,000 after purchasing an additional 249,145 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Mplx by 10.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 219,219 shares of the pipeline company’s stock worth $6,642,000 after purchasing an additional 20,561 shares during the last quarter. MAI Capital Management raised its stake in shares of Mplx by 22.2% in the fourth quarter. MAI Capital Management now owns 135,092 shares of the pipeline company’s stock worth $4,093,000 after purchasing an additional 24,579 shares during the last quarter. Finally, HITE Hedge Asset Management LLC purchased a new position in shares of Mplx in the fourth quarter worth $6,973,000. Institutional investors and hedge funds own 30.43% of the company’s stock.
Several research analysts have recently weighed in on MPLX shares. Evercore ISI started coverage on Mplx in a research note on Tuesday, February 5th. They issued an “outperform” rating for the company. Zacks Investment Research upgraded Mplx from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research note on Wednesday, February 6th. UBS Group decreased their price target on Mplx to $41.00 and set an “overweight” rating for the company in a research note on Thursday, February 7th. Credit Suisse Group decreased their price target on Mplx from $44.00 to $39.00 and set an “outperform” rating for the company in a research note on Tuesday, March 12th. Finally, Barclays restated a “buy” rating and issued a $38.00 price target on shares of Mplx in a research note on Wednesday, March 13th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $39.44.
Mplx (NYSE:MPLX) last posted its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.02. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Mplx had a return on equity of 27.44% and a net margin of 28.57%. Mplx’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 earnings per share. As a group, research analysts anticipate that Mplx Lp will post 2.45 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, May 9th were given a dividend of $0.6575 per share. This represents a $2.63 dividend on an annualized basis and a yield of 8.38%. The ex-dividend date of this dividend was Wednesday, May 8th. This is a boost from Mplx’s previous quarterly dividend of $0.65. Mplx’s dividend payout ratio is 114.85%.
Mplx Company Profile
MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. The company also provides fuels distribution services. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; and transportation, storage, and distribution of crude oil and refined petroleum products.
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