Mplx Lp (NYSE:MPLX) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its stake in shares of Mplx Lp (NYSE:MPLX) by 10.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,755 shares of the pipeline company’s stock after selling 3,461 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Mplx were worth $1,195,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MPLX. PSI Advisors LLC boosted its stake in shares of Mplx by 63.6% in the fourth quarter. PSI Advisors LLC now owns 900 shares of the pipeline company’s stock valued at $33,000 after buying an additional 350 shares in the last quarter. Quent Capital LLC acquired a new position in shares of Mplx during the 1st quarter worth $35,000. HBC Financial Services PLLC purchased a new position in shares of Mplx in the 4th quarter valued at about $36,000. Fortitude Family Office LLC acquired a new stake in shares of Mplx in the fourth quarter valued at about $41,000. Finally, Pacifica Partners Inc. purchased a new stake in Mplx during the first quarter worth about $41,000. Institutional investors and hedge funds own 24.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Mplx from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. boosted their target price on Mplx from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Barclays raised their price target on Mplx from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday. UBS Group boosted their price objective on shares of Mplx from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, StockNews.com cut shares of Mplx from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 24th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $45.33.

Mplx Trading Up 0.2 %

Shares of MPLX opened at $41.91 on Monday. Mplx Lp has a fifty-two week low of $34.24 and a fifty-two week high of $43.07. The stock has a fifty day moving average of $41.32 and a two-hundred day moving average of $40.08. 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 company has a market capitalization of $42.59 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 2.10 and a beta of 1.37.

Mplx (NYSE:MPLX) last released its earnings results on Tuesday, April 30th. The pipeline company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.01). The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Mplx had a return on equity of 31.70% and a net margin of 34.96%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 earnings per share. As a group, analysts forecast that Mplx Lp will post 4.01 EPS for the current year.

Mplx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Friday, May 3rd were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 8.11%. The ex-dividend date was Thursday, May 2nd. Mplx’s dividend payout ratio is currently 87.63%.

Mplx Company 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.