Oppenheimer Asset Management Inc. Raises Stock Position in Mplx Lp (NYSE:MPLX)

Oppenheimer Asset Management Inc. raised its stake in shares of Mplx Lp (NYSE:MPLX) by 12.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,171 shares of the pipeline company’s stock after purchasing an additional 3,550 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Mplx were worth $1,475,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Lindbrook Capital LLC lifted its position in shares of Mplx by 27.2% in the third quarter. Lindbrook Capital LLC now owns 52,128 shares of the pipeline company’s stock valued at $2,318,000 after acquiring an additional 11,144 shares in the last quarter. Verdence Capital Advisors LLC purchased a new stake in Mplx during the 3rd quarter valued at about $229,000. CWA Asset Management Group LLC acquired a new stake in Mplx in the 3rd quarter valued at about $922,000. Avidian Wealth Enterprises LLC boosted its holdings in shares of Mplx by 34.7% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 12,155 shares of the pipeline company’s stock worth $540,000 after purchasing an additional 3,130 shares during the last quarter. Finally, Crescent Grove Advisors LLC grew its position in shares of Mplx by 2.0% in the third quarter. Crescent Grove Advisors LLC now owns 68,403 shares of the pipeline company’s stock valued at $3,041,000 after purchasing an additional 1,330 shares in the last quarter. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Price Performance

Shares of MPLX opened at $47.02 on Monday. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40. Mplx Lp has a fifty-two week low of $35.31 and a fifty-two week high of $47.62. The company has a market cap of $47.99 billion, a P/E ratio of 11.09, a PEG ratio of 1.28 and a beta of 1.37. The firm’s 50 day moving average price is $44.51 and its 200 day moving average price is $42.73.

Mplx (NYSE:MPLX) last announced its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.04). Mplx had a net margin of 36.77% and a return on equity of 32.70%. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the previous year, the business posted $0.89 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. On average, research analysts forecast that Mplx Lp will post 4.31 earnings per share for the current fiscal year.

Mplx Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a $0.9565 dividend. This represents a $3.83 annualized dividend and a dividend yield of 8.14%. The ex-dividend date was Friday, November 8th. This is a boost from Mplx’s previous quarterly dividend of $0.85. Mplx’s dividend payout ratio (DPR) is presently 90.33%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Bank of America assumed coverage on Mplx in a research note on Thursday, October 17th. They set an “underperform” rating and a $43.00 price objective on the stock. Royal Bank of Canada raised their price objective on shares of Mplx from $47.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company boosted their target price on shares of Mplx from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. StockNews.com upgraded shares of Mplx from a “buy” rating to a “strong-buy” rating in a report on Thursday. Finally, Barclays boosted their price objective on shares of Mplx from $45.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.44.

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.