CIBC Asset Management Inc Buys 2,814 Shares of Mplx Lp (MPLX)
CIBC Asset Management Inc increased its stake in Mplx Lp (NYSE:MPLX) by 29.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,280 shares of the pipeline company’s stock after acquiring an additional 2,814 shares during the period. CIBC Asset Management Inc’s holdings in Mplx Lp were worth $430,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Alps Advisors Inc. grew its position in Mplx Lp by 16.8% in the third quarter. Alps Advisors Inc. now owns 23,435,667 shares of the pipeline company’s stock worth $820,483,000 after acquiring an additional 3,379,395 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its position in Mplx Lp by 1.1% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 19,105,648 shares of the pipeline company’s stock worth $638,129,000 after acquiring an additional 202,094 shares in the last quarter. Atlantic Trust Group LLC grew its position in Mplx Lp by 2.9% in the second quarter. Atlantic Trust Group LLC now owns 6,753,284 shares of the pipeline company’s stock worth $225,561,000 after acquiring an additional 187,807 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Mplx Lp by 9.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,812,175 shares of the pipeline company’s stock worth $127,327,000 after acquiring an additional 327,092 shares in the last quarter. Finally, ING Groep NV grew its position in Mplx Lp by 2.1% in the second quarter. ING Groep NV now owns 2,375,000 shares of the pipeline company’s stock worth $79,325,000 after acquiring an additional 49,300 shares in the last quarter. Institutional investors own 58.55% of the company’s stock.
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MPLX has been the subject of several recent research reports. Scotiabank reiterated a “buy” rating and issued a $44.00 price target on shares of Mplx Lp in a research report on Wednesday, October 4th. Mizuho reiterated a “buy” rating and issued a $40.00 price target on shares of Mplx Lp in a research report on Friday, October 20th. Barclays PLC reiterated a “buy” rating and issued a $39.00 price target on shares of Mplx Lp in a research report on Thursday, October 19th. BidaskClub upgraded Mplx Lp from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of Mplx Lp in a research report on Friday, July 28th. Two analysts have rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the stock. Mplx Lp currently has an average rating of “Buy” and a consensus price target of $41.67.
In other news, VP C Corwin Bromley sold 2,500 shares of Mplx Lp stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $34.50, for a total transaction of $86,250.00. Following the completion of the sale, the vice president now owns 123,705 shares of the company’s stock, valued at $4,267,822.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 8,000 shares of company stock valued at $276,910 in the last ninety days.
Shares of Mplx Lp (NYSE:MPLX) opened at $34.47 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.48 and a current ratio of 0.54. Mplx Lp has a 12 month low of $30.88 and a 12 month high of $39.43. The firm has a market cap of $14,317.91, a P/E ratio of 37.88, a PEG ratio of 4.89 and a beta of 1.35.
Mplx Lp (NYSE:MPLX) last posted its quarterly earnings results on Thursday, October 26th. The pipeline company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. Mplx Lp had a net margin of 16.79% and a return on equity of 5.87%. The firm had revenue of $980.00 million during the quarter, compared to the consensus estimate of $965.07 million. During the same quarter in the previous year, the firm posted $0.21 earnings per share. The company’s revenue was up 16.9% on a year-over-year basis. sell-side analysts expect that Mplx Lp will post 1.01 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Monday, November 6th were paid a dividend of $0.5875 per share. This represents a $2.35 annualized dividend and a dividend yield of 6.82%. The ex-dividend date of this dividend was Friday, November 3rd. This is an increase from Mplx Lp’s previous quarterly dividend of $0.56. Mplx Lp’s payout ratio is currently 258.24%.
About Mplx Lp
MPLX LP is a master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets. The Company is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids (NGLs), and the gathering, transportation and storage of crude oil and refined petroleum products.
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