Mplx Lp (NYSE:MPLX) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lowered its holdings in Mplx Lp (NYSE:MPLX) by 9.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,226 shares of the pipeline company’s stock after selling 2,922 shares during the period. ProShare Advisors LLC’s holdings in Mplx were worth $1,160,000 at the end of the most recent reporting period.

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

Mplx Trading Up 0.5 %

NYSE:MPLX opened at $44.68 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.95 and a current ratio of 0.99. The company has a market capitalization of $45.40 billion, a P/E ratio of 11.52, a P/E/G ratio of 1.24 and a beta of 1.37. The stock’s 50 day moving average price is $42.78 and its 200 day moving average price is $41.82. Mplx Lp has a 52 week low of $34.52 and a 52 week high of $45.24.

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

Mplx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 9th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.40 annualized dividend and a yield of 7.61%. Mplx’s dividend payout ratio (DPR) is presently 87.63%.

Wall Street Analyst Weigh In

MPLX has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on shares of Mplx from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. UBS Group raised their target price on Mplx from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Royal Bank of Canada reissued an “outperform” rating and set a $47.00 price target on shares of Mplx in a research report on Wednesday, August 28th. StockNews.com lowered Mplx from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 23rd. Finally, Barclays dropped their target price on Mplx from $46.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Mplx presently has an average rating of “Buy” and an average price target of $46.56.

About Mplx

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.