Miller Howard Investments Inc. NY Has $71.15 Million Holdings in Mplx Lp (NYSE:MPLX)

Miller Howard Investments Inc. NY lessened its holdings in Mplx Lp (NYSE:MPLXGet Rating) by 11.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,144,399 shares of the pipeline company’s stock after selling 287,123 shares during the quarter. Mplx makes up approximately 2.5% of Miller Howard Investments Inc. NY’s investment portfolio, making the stock its 5th largest position. Miller Howard Investments Inc. NY owned 0.21% of Mplx worth $71,151,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. National Bank of Canada FI acquired a new stake in Mplx during the 4th quarter valued at approximately $25,000. Exchange Traded Concepts LLC acquired a new stake in shares of Mplx during the 4th quarter worth approximately $28,000. Chilton Capital Management LLC acquired a new stake in shares of Mplx during the 4th quarter worth approximately $32,000. Farmers & Merchants Investments Inc. acquired a new stake in shares of Mplx during the 1st quarter worth approximately $38,000. Finally, TCTC Holdings LLC acquired a new stake in shares of Mplx during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 24.73% of the company’s stock.

In other Mplx news, COO Gregory Scott Floerke sold 2,500 shares of Mplx stock in a transaction dated Tuesday, April 19th. The stock was sold at an average price of $35.00, for a total transaction of $87,500.00. Following the completion of the transaction, the chief operating officer now owns 80,212 shares of the company’s stock, valued at approximately $2,807,420. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

NYSE MPLX opened at $29.66 on Friday. The stock has a market capitalization of $30.02 billion, a price-to-earnings ratio of 10.02 and a beta of 1.58. Mplx Lp has a one year low of $26.01 and a one year high of $35.49. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.63 and a quick ratio of 0.58. The business’s fifty day moving average is $31.30 and its 200-day moving average is $31.84.

Mplx (NYSE:MPLXGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The pipeline company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.01. Mplx had a return on equity of 26.83% and a net margin of 30.72%. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.45 billion. During the same quarter last year, the firm posted $0.68 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Research analysts expect that Mplx Lp will post 3.25 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Friday, May 6th were issued a dividend of $0.705 per share. This represents a $2.82 dividend on an annualized basis and a yield of 9.51%. The ex-dividend date of this dividend was Thursday, May 5th. Mplx’s payout ratio is presently 95.27%.

Several analysts have recently commented on MPLX shares. Raymond James raised their price objective on shares of Mplx from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 20th. Morgan Stanley increased their target price on Mplx from $37.00 to $39.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 26th. Finally, StockNews.com initiated coverage on Mplx in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Mplx has an average rating of “Moderate Buy” and an average price target of $36.71.

Mplx Company Profile (Get Rating)

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, exchange, 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 sale of residue gas and condensate.

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Institutional Ownership by Quarter for Mplx (NYSE:MPLX)

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