King Luther Capital Management Corp Decreases Position in Mplx Lp (MPLX)
King Luther Capital Management Corp cut its position in shares of Mplx Lp (NYSE:MPLX) by 14.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,486 shares of the pipeline company’s stock after selling 1,831 shares during the quarter. King Luther Capital Management Corp’s holdings in Mplx were worth $372,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company grew its holdings in shares of Mplx by 8.3% during the second quarter. The Manufacturers Life Insurance Company now owns 11,186 shares of the pipeline company’s stock worth $374,000 after buying an additional 856 shares in the last quarter. Texas Yale Capital Corp. grew its stake in Mplx by 1.3% in the third quarter. Texas Yale Capital Corp. now owns 132,038 shares of the pipeline company’s stock valued at $4,623,000 after purchasing an additional 1,725 shares in the last quarter. Groesbeck Investment Management Corp NJ grew its stake in Mplx by 5.5% in the fourth quarter. Groesbeck Investment Management Corp NJ now owns 35,384 shares of the pipeline company’s stock valued at $1,255,000 after purchasing an additional 1,830 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Mplx by 1.3% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 150,240 shares of the pipeline company’s stock valued at $5,260,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Johnson Financial Group LLC grew its stake in Mplx by 28.1% in the third quarter. Johnson Financial Group LLC now owns 9,753 shares of the pipeline company’s stock valued at $341,000 after purchasing an additional 2,141 shares in the last quarter. Institutional investors and hedge funds own 62.29% of the company’s stock.
In other news, VP Gregory Scott Floerke sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $37.00, for a total value of $74,000.00. Following the completion of the sale, the vice president now directly owns 77,598 shares of the company’s stock, valued at $2,871,126. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of Mplx Lp (NYSE MPLX) opened at $34.58 on Friday. Mplx Lp has a 52-week low of $30.88 and a 52-week high of $39.38. The stock has a market capitalization of $27,447.88, a P/E ratio of 32.93, a PEG ratio of 3.19 and a beta of 1.32. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.54 and a quick ratio of 0.48.
Mplx (NYSE:MPLX) last released its quarterly earnings data on Thursday, February 1st. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.03). Mplx had a net margin of 17.90% and a return on equity of 6.99%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $937.04 million. During the same period in the previous year, the business earned $0.17 earnings per share. The business’s quarterly revenue was up 27.9% on a year-over-year basis. sell-side analysts anticipate that Mplx Lp will post 1.94 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Monday, February 5th were given a $0.6075 dividend. This represents a $2.43 dividend on an annualized basis and a dividend yield of 7.03%. This is a boost from Mplx’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Friday, February 2nd. Mplx’s dividend payout ratio (DPR) is presently 231.43%.
Mplx Company Profile
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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