Oppenheimer Asset Management Inc. Has $1.26 Million Holdings in Mplx Lp (NYSE:MPLX)

Oppenheimer Asset Management Inc. grew its position in shares of Mplx Lp (NYSE:MPLX) by 3.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,621 shares of the pipeline company’s stock after buying an additional 866 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Mplx were worth $1,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Tortoise Capital Advisors L.L.C. raised its position in Mplx by 2.4% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 14,825,905 shares of the pipeline company’s stock valued at $631,435,000 after acquiring an additional 353,324 shares in the last quarter. Chickasaw Capital Management LLC raised its holdings in shares of Mplx by 2.5% during the 2nd quarter. Chickasaw Capital Management LLC now owns 5,545,393 shares of the pipeline company’s stock valued at $236,178,000 after purchasing an additional 136,013 shares in the last quarter. Energy Income Partners LLC lifted its stake in shares of Mplx by 5.1% in the 1st quarter. Energy Income Partners LLC now owns 5,224,918 shares of the pipeline company’s stock valued at $217,148,000 after purchasing an additional 255,211 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in Mplx by 4.0% in the first quarter. Clearbridge Investments LLC now owns 5,200,759 shares of the pipeline company’s stock worth $216,144,000 after purchasing an additional 201,500 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in Mplx by 23.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,028,327 shares of the pipeline company’s stock worth $111,200,000 after buying an additional 574,737 shares during the last quarter. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. UBS Group boosted their price target on Mplx from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $47.00 target price on shares of Mplx in a research report on Wednesday, August 28th. Barclays dropped their price target on shares of Mplx from $46.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday. Wells Fargo & Company raised their target price on shares of Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, StockNews.com raised shares of Mplx from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 11th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $46.56.

Mplx Price Performance

Shares of Mplx stock opened at $44.05 on Thursday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.99 and a quick ratio of 0.95. The company has a market cap of $44.76 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 1.19 and a beta of 1.37. The firm has a fifty day moving average price of $42.48 and a two-hundred day moving average price of $41.62. Mplx Lp has a fifty-two week low of $34.52 and a fifty-two week high of $44.49.

Mplx (NYSE:MPLX) last released its earnings results on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.17. Mplx had a return on equity of 32.68% and a net margin of 35.95%. The business had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same period last year, the business earned $0.91 earnings per share. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. Analysts expect that Mplx Lp will post 4.24 EPS for the current year.

Mplx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 9th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.72%. The ex-dividend date of this dividend was Friday, August 9th. Mplx’s dividend payout ratio is presently 87.63%.

Mplx Company Profile

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. 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; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.