Truist Financial Corp Has $239,000 Stake in Mplx Lp (NYSE:MPLX)

Truist Financial Corp lowered its position in Mplx Lp (NYSE:MPLX) by 6.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,614 shares of the pipeline company’s stock after selling 397 shares during the quarter. Truist Financial Corp’s holdings in Mplx were worth $239,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in MPLX. Mather Group LLC. acquired a new stake in Mplx during the 1st quarter valued at $92,000. Global Assets Advisory LLC acquired a new stake in shares of Mplx during the 1st quarter worth about $4,551,000. Pacifica Partners Inc. bought a new stake in shares of Mplx during the 1st quarter worth about $41,000. Miller Howard Investments Inc. NY grew its stake in Mplx by 1.0% in the 1st quarter. Miller Howard Investments Inc. NY now owns 2,385,733 shares of the pipeline company’s stock valued at $99,151,000 after buying an additional 22,734 shares during the last quarter. Finally, F&V Capital Management LLC raised its holdings in Mplx by 32.5% in the 1st quarter. F&V Capital Management LLC now owns 7,750 shares of the pipeline company’s stock valued at $322,000 after acquiring an additional 1,900 shares during the period. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Stock Up 0.0 %

Shares of NYSE MPLX opened at $44.34 on Friday. Mplx Lp has a 52 week low of $35.06 and a 52 week high of $45.24. The stock’s fifty day moving average is $43.38 and its 200 day moving average is $42.19. 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 stock has a market capitalization of $45.06 billion, a P/E ratio of 11.43, a PEG ratio of 1.22 and a beta of 1.37.

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

Mplx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 9th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 7.67%. The ex-dividend date of this dividend was Friday, August 9th. Mplx’s payout ratio is presently 87.63%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MPLX shares. UBS Group boosted their price objective on Mplx from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Bank of America started coverage on Mplx in a research note on Thursday. They issued an “underperform” rating and a $43.00 price target for the company. Royal Bank of Canada increased their price objective on Mplx from $47.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday. Wells Fargo & Company lifted their target price on Mplx from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Finally, Barclays upped their price target on shares of Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Mplx has a consensus rating of “Moderate Buy” and an average target price of $47.67.

Mplx 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.