Mplx Lp $MPLX Shares Acquired by Oxbow Advisors LLC

Oxbow Advisors LLC increased its stake in shares of Mplx Lp (NYSE:MPLX) by 7.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 434,012 shares of the pipeline company’s stock after buying an additional 28,838 shares during the quarter. Mplx comprises approximately 2.1% of Oxbow Advisors LLC’s investment portfolio, making the stock its 6th biggest holding. Oxbow Advisors LLC’s holdings in Mplx were worth $24,769,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Invesco Ltd. lifted its position in Mplx by 0.7% during the 3rd quarter. Invesco Ltd. now owns 19,561,938 shares of the pipeline company’s stock worth $977,119,000 after acquiring an additional 143,361 shares during the period. Bank of America Corp DE increased its holdings in shares of Mplx by 8.3% in the second 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Mplx by 4.4% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,060,024 shares of the pipeline company’s stock valued at $352,648,000 after purchasing an additional 300,321 shares during the period. Morgan Stanley raised its stake in shares of Mplx by 23.7% in the fourth quarter. Morgan Stanley now owns 5,763,110 shares of the pipeline company’s stock worth $307,577,000 after purchasing an additional 1,104,510 shares during the last quarter. Finally, Energy Income Partners LLC lifted its holdings in shares of Mplx by 2.1% during the third quarter. Energy Income Partners LLC now owns 5,659,885 shares of the pipeline company’s stock worth $282,711,000 after purchasing an additional 118,090 shares during the period. 24.25% of the stock is owned by institutional investors and hedge funds.

Mplx Price Performance

Shares of NYSE MPLX opened at $57.20 on Friday. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.10 and a quick ratio of 1.05. The stock has a market capitalization of $58.04 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 5.48 and a beta of 0.47. The firm’s 50 day simple moving average is $55.89 and its 200-day simple moving average is $56.03. Mplx Lp has a 12 month low of $47.80 and a 12 month high of $59.98.

Mplx (NYSE:MPLX) last posted its earnings results on Tuesday, May 5th. The pipeline company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.15). Mplx had a net margin of 36.38% and a return on equity of 32.74%. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the prior year, the firm earned $1.10 earnings per share. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. Analysts expect that Mplx Lp will post 4.22 EPS for the current year.

Mplx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were given a $1.0765 dividend. The ex-dividend date was Friday, May 8th. This represents a $4.31 dividend on an annualized basis and a dividend yield of 7.5%. Mplx’s dividend payout ratio is 93.29%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MPLX. JPMorgan Chase & Co. increased their price target on shares of Mplx from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, March 10th. Barclays increased their price objective on shares of Mplx from $58.00 to $59.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. UBS Group raised their target price on shares of Mplx from $64.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Wells Fargo & Company lowered their price target on shares of Mplx from $63.00 to $61.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Finally, Zacks Research upgraded Mplx from a “strong sell” rating to a “hold” rating in a research note on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.60.

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.