11,895 Shares in Mplx Lp (NYSE:MPLX) Acquired by Nwam LLC
Nwam LLC bought a new position in Mplx Lp (NYSE:MPLX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 11,895 shares of the pipeline company’s stock, valued at approximately $383,000.
A number of other hedge funds also recently modified their holdings of the stock. OppenheimerFunds Inc. boosted its holdings in Mplx by 0.5% in the first quarter. OppenheimerFunds Inc. now owns 10,004,010 shares of the pipeline company’s stock worth $329,032,000 after purchasing an additional 52,835 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in Mplx by 5.5% in the first quarter. Clearbridge Investments LLC now owns 2,861,419 shares of the pipeline company’s stock worth $94,112,000 after purchasing an additional 150,130 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted its holdings in Mplx by 1.9% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 2,401,939 shares of the pipeline company’s stock worth $79,000,000 after purchasing an additional 45,848 shares during the last quarter. Duff & Phelps Investment Management Co. boosted its holdings in Mplx by 5.6% in the first quarter. Duff & Phelps Investment Management Co. now owns 1,909,120 shares of the pipeline company’s stock worth $62,791,000 after purchasing an additional 100,790 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Mplx by 76.7% in the first quarter. Wells Fargo & Company MN now owns 1,019,525 shares of the pipeline company’s stock worth $33,532,000 after purchasing an additional 442,448 shares during the last quarter. Institutional investors own 30.66% of the company’s stock.
Several equities research analysts recently issued reports on MPLX shares. Raymond James started coverage on shares of Solar Capital in a report on Tuesday, April 16th. They issued an “outperform” rating and a $22.50 target price on the stock. Wells Fargo & Co decreased their price target on shares of Teva Pharmaceutical Industries from $18.00 to $17.00 and set a “market perform” rating on the stock in a research report on Thursday, May 9th. Zacks Investment Research upgraded shares of Garrett Motion from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Bank of America increased their price target on shares of Armstrong World Industries from $95.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Finally, ValuEngine upgraded shares of United States Steel from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $38.22.
Mplx (NYSE:MPLX) last released its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.02. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. Mplx had a net margin of 28.57% and a return on equity of 27.44%. The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the firm earned $0.61 earnings per share. Analysts expect that Mplx Lp will post 2.83 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Monday, August 5th will be given a dividend of $0.668 per share. This represents a $2.67 annualized dividend and a dividend yield of 9.14%. This is an increase from Mplx’s previous quarterly dividend of $0.44. The ex-dividend date is Friday, August 2nd. Mplx’s dividend payout ratio (DPR) is presently 114.85%.
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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