CIBC Bancorp USA Inc. Invests $134.32 Million in Mplx Lp $MPLX

CIBC Bancorp USA Inc. purchased a new stake in Mplx Lp (NYSE:MPLX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,689,070 shares of the pipeline company’s stock, valued at approximately $134,319,000.

A number of other large investors have also made changes to their positions in the company. Captrust Financial Advisors lifted its holdings in Mplx by 5.4% during the third quarter. Captrust Financial Advisors now owns 76,835 shares of the pipeline company’s stock worth $3,838,000 after acquiring an additional 3,922 shares in the last quarter. Mizuho Markets Cayman LP increased its holdings in shares of Mplx by 8.2% in the third quarter. Mizuho Markets Cayman LP now owns 55,025 shares of the pipeline company’s stock worth $2,748,000 after acquiring an additional 4,157 shares in the last quarter. Advisory Services Network LLC increased its holdings in shares of Mplx by 12.1% in the third quarter. Advisory Services Network LLC now owns 46,788 shares of the pipeline company’s stock worth $2,337,000 after acquiring an additional 5,037 shares in the last quarter. Fulcrum Asset Management LLP acquired a new stake in shares of Mplx during the third quarter worth about $106,000. Finally, Greenline Partners LLC raised its position in shares of Mplx by 22.9% during the third quarter. Greenline Partners LLC now owns 17,857 shares of the pipeline company’s stock worth $892,000 after purchasing an additional 3,330 shares during the period. Institutional investors own 24.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Morgan Stanley boosted their price objective on Mplx from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 25th. Stifel Nicolaus raised their target price on shares of Mplx from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Wells Fargo & Company lifted their price target on shares of Mplx from $59.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, March 13th. Wall Street Zen cut shares of Mplx from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of Mplx in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.88.

Mplx Stock Up 0.3%

MPLX stock opened at $58.29 on Wednesday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.23 and a quick ratio of 1.18. The stock has a market capitalization of $59.18 billion, a P/E ratio of 12.09, a P/E/G ratio of 5.28 and a beta of 0.56. The business has a 50-day moving average of $56.63 and a 200-day moving average of $53.54. Mplx Lp has a fifty-two week low of $44.60 and a fifty-two week high of $59.84.

Mplx (NYSE:MPLX) last posted its quarterly earnings data on Tuesday, February 3rd. The pipeline company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.07. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.23 billion. Mplx had a return on equity of 34.37% and a net margin of 37.79%.Mplx’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the company earned $1.07 earnings per share. On average, sell-side analysts anticipate that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 9th were paid a dividend of $1.0765 per share. This represents a $4.31 annualized dividend and a dividend yield of 7.4%. The ex-dividend date of this dividend was Monday, February 9th. Mplx’s dividend payout ratio (DPR) is currently 89.42%.

Mplx 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.