Progeny 3 Inc. Grows Position in Mplx Lp (NYSE:MPLX)

Progeny 3 Inc. grew its holdings in Mplx Lp (NYSE:MPLX) by 2.0% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 995,659 shares of the pipeline company’s stock after buying an additional 19,800 shares during the period. Mplx accounts for approximately 4.1% of Progeny 3 Inc.’s portfolio, making the stock its 12th largest position. Progeny 3 Inc. owned about 0.10% of Mplx worth $42,405,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MPLX. Mcdonald Partners LLC raised its holdings in Mplx by 1.4% during the second quarter. Mcdonald Partners LLC now owns 17,180 shares of the pipeline company’s stock worth $732,000 after purchasing an additional 239 shares in the last quarter. Sound Income Strategies LLC raised its stake in shares of Mplx by 10.4% during the 2nd quarter. Sound Income Strategies LLC now owns 2,992 shares of the pipeline company’s stock worth $127,000 after buying an additional 282 shares in the last quarter. Belfer Management LLC lifted its holdings in shares of Mplx by 4.4% in the 1st quarter. Belfer Management LLC now owns 7,733 shares of the pipeline company’s stock valued at $321,000 after buying an additional 325 shares during the period. Prossimo Advisors LLC boosted its stake in shares of Mplx by 6.3% in the second quarter. Prossimo Advisors LLC now owns 6,509 shares of the pipeline company’s stock valued at $277,000 after buying an additional 386 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its holdings in Mplx by 5.9% during the second quarter. Brown Brothers Harriman & Co. now owns 7,505 shares of the pipeline company’s stock worth $320,000 after acquiring an additional 415 shares during the period. 24.25% of the stock is owned by hedge funds and other institutional investors.

Mplx Stock Performance

Mplx stock opened at $44.69 on Tuesday. Mplx Lp has a fifty-two week low of $34.52 and a fifty-two week high of $44.74. The company has a market capitalization of $45.41 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 1.19 and a beta of 1.37. The stock has a fifty day moving average of $42.62 and a two-hundred day moving average of $41.71. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.95 and a current ratio of 0.99.

Mplx (NYSE:MPLX) last announced its earnings results on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share 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 during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the previous year, the company posted $0.91 EPS. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, analysts anticipate that Mplx Lp will post 4.24 EPS for the current fiscal year.

Mplx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 9th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.40 dividend on an annualized basis and a yield of 7.61%. Mplx’s dividend payout ratio (DPR) is currently 87.63%.

Wall Street Analyst Weigh In

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

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.