Mplx Lp (NYSE:MPLX) Shares Acquired by Miller Howard Investments Inc. NY
Miller Howard Investments Inc. increased its stake in Mplx Lp (NYSE:MPLX) by 7.8% in Q2, now owning 2,571,817 shares, making it its largest position. Other funds have also recently bought shares. Analysts have given Mplx a "Buy" rating with an average price target of $33.33. The stock experienced a drop of 0.7% on a recent trading day. Mplx reported earnings of $0.15 per share, exceeding estimates, and announced a quarterly dividend yielding 8.08%.
Miller Howard Investments Inc. NY increased its position in shares of Mplx Lp (NYSE:MPLX - Free Report) by 7.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,571,817 shares of the pipeline company's stock after acquiring an additional 186,084 shares during the period. Mplx makes up about 3.6% of Miller Howard Investments Inc. NY's investment portfolio, making the stock its largest position. Miller Howard Investments Inc. NY owned approximately 0.25% of Mplx worth $109,534,000 at the end of the most recent quarter.
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Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Quent Capital LLC acquired a new stake in shares of Mplx during the 1st quarter valued at $35,000. Pacifica Partners Inc. purchased a new stake in shares of Mplx during the first quarter valued at $41,000. Crewe Advisors LLC acquired a new position in shares of Mplx in the 1st quarter valued at $41,000. Register Financial Advisors LLC purchased a new position in Mplx in the 1st quarter worth about $42,000. Finally, CWM LLC raised its holdings in Mplx by 73.3% during the 2nd quarter. CWM LLC now owns 1,066 shares of the pipeline company's stock worth $45,000 after buying an additional 451 shares during the period. 24.25% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
MPLX has been the subject of several recent analyst reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $47.00 target price on shares of Mplx in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Mplx from $45.00 to $46.00 and gave the stock an "overweight" rating in a research report on Friday, May 3rd. Wells Fargo & Company increased their target price on Mplx from $47.00 to $50.00 and gave the company an "overweight" rating in a report on Wednesday, August 7th. StockNews.com raised Mplx from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 11th. Finally, Barclays raised their price objective on Mplx from $43.00 to $45.00 and gave the stock an "overweight" rating in a research report on Friday, July 12th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Mplx presently has an average rating of "Buy" and an average price target of $46.33.
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Read Our Latest Research Report on MPLX
Mplx Stock Down 0.7 %
Shares of NYSE:MPLX traded down $0.29 during midday trading on Wednesday, hitting $42.07. 1,472,653 shares of the stock were exchanged, compared to its average volume of 1,971,027. The company has a market capitalization of $42.75 billion, a PE ratio of 10.84, a P/E/G ratio of 2.13 and a beta of 1.37. Mplx Lp has a 52-week low of $34.47 and a 52-week high of $43.42. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.67 and a current ratio of 0.72. The business's fifty day simple moving average is $42.25 and its two-hundred day simple moving average is $41.18.
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Mplx (NYSE:MPLX - Get Free Report) last posted its quarterly 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. The company had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $2.96 billion. Mplx had a return on equity of 31.70% and a net margin of 34.96%. The business's quarterly revenue was up 13.5% on a year-over-year basis. During the same period last year, the business earned $0.91 EPS. As a group, research analysts predict that Mplx Lp will post 4.02 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 $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 8.08%. The ex-dividend date was Friday, August 9th. Mplx's dividend payout ratio (DPR) is presently 87.63%.
About Mplx
(Free Report)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.
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