Neuberger Berman Group LLC Buys 47,037 Shares of Mplx Lp $MPLX

Neuberger Berman Group LLC lifted its stake in shares of Mplx Lp (NYSE:MPLX) by 4.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,095,181 shares of the pipeline company’s stock after acquiring an additional 47,037 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.11% of Mplx worth $54,704,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alps Advisors Inc. grew its stake in Mplx by 1.2% in the third quarter. Alps Advisors Inc. now owns 26,409,654 shares of the pipeline company’s stock worth $1,319,162,000 after purchasing an additional 325,451 shares in the last quarter. Bank of America Corp DE raised its position in Mplx by 8.3% during the 2nd quarter. Bank of America Corp DE now owns 9,873,619 shares of the pipeline company’s stock valued at $508,590,000 after purchasing an additional 757,569 shares in the last quarter. Chickasaw Capital Management LLC raised its position in Mplx by 2.2% during the 3rd quarter. Chickasaw Capital Management LLC now owns 5,611,824 shares of the pipeline company’s stock valued at $280,311,000 after purchasing an additional 120,216 shares in the last quarter. Energy Income Partners LLC lifted its holdings in shares of Mplx by 4.5% in the 2nd quarter. Energy Income Partners LLC now owns 5,541,795 shares of the pipeline company’s stock worth $285,458,000 after buying an additional 236,932 shares during the period. Finally, Miller Howard Investments Inc. NY lifted its holdings in shares of Mplx by 0.8% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 2,258,674 shares of the pipeline company’s stock worth $112,821,000 after buying an additional 18,538 shares during the period. Institutional investors own 24.25% of the company’s stock.

Mplx Stock Down 0.0%

Mplx stock opened at $58.64 on Friday. Mplx Lp has a 1-year low of $44.60 and a 1-year high of $59.84. The business has a fifty day moving average price of $55.93 and a 200-day moving average price of $53.11. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.23 and a quick ratio of 1.26. The stock has a market capitalization of $59.64 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 5.26 and a beta of 0.56.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, February 3rd. The pipeline company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.07. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.23 billion. Mplx had a net margin of 37.79% and a return on equity of 34.37%. Mplx’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.07 EPS. Equities research analysts forecast that Mplx Lp will post 4.41 EPS for the current fiscal year.

Mplx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th were given a dividend of $1.0765 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $4.31 dividend on an annualized basis and a yield of 7.3%. Mplx’s payout ratio is currently 89.42%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Stifel Nicolaus raised their price target on Mplx from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday. Royal Bank Of Canada upped their price objective on shares of Mplx from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, November 21st. Barclays increased their target price on shares of Mplx from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Weiss Ratings restated a “buy (a-)” rating on shares of Mplx in a report on Monday, December 29th. Finally, Citigroup upped their price target on shares of Mplx from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Mplx presently has an average rating of “Moderate Buy” and a consensus price target of $58.14.

Mplx Company Profile

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.