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

Truist Financial Corp reduced its position in shares of Mplx Lp (NYSE:MPLX) by 6.6% during the 2nd quarter, HoldingsChannel.com reports. The firm 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 quarter.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Royal Bank of Canada boosted their target price on shares of Mplx from $47.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday. StockNews.com raised Mplx from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company upped their target price on Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Barclays lifted their target price on Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Bank of America began coverage on Mplx in a research note on Thursday. They issued an “underperform” rating and a $43.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Mplx has an average rating of “Moderate Buy” and an average price target of $47.67.

Mplx Stock Up 0.0 %

Shares of NYSE:MPLX opened at $44.34 on Friday. 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 Lp has a 52-week low of $35.06 and a 52-week high of $45.24. The business’s 50 day simple moving average is $43.38 and its two-hundred day simple moving average is $42.19. The firm has a market cap 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 issued its earnings results on Tuesday, August 6th. The pipeline company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.17. The company had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $2.96 billion. Mplx had a return on equity of 32.68% and a net margin of 35.95%. Mplx’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period last year, the business earned $0.91 EPS. As a group, research analysts forecast that Mplx Lp will post 4.24 EPS for the current fiscal year.

Mplx Announces Dividend

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

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.