BROOKFIELD Corp ON Sells 355,070 Shares of Mplx Lp $MPLX

BROOKFIELD Corp ON decreased its holdings in Mplx Lp (NYSE:MPLX) by 8.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,866,545 shares of the pipeline company’s stock after selling 355,070 shares during the period. Mplx comprises about 1.2% of BROOKFIELD Corp ON’s investment portfolio, making the stock its 14th biggest holding. BROOKFIELD Corp ON owned 0.38% of Mplx worth $206,938,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of MPLX. Kayne Anderson Capital Advisors LP increased its holdings in shares of Mplx by 38.2% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 7,788,063 shares of the pipeline company’s stock worth $416,817,000 after purchasing an additional 2,153,490 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Mplx by 14.9% in the first quarter. JPMorgan Chase & Co. now owns 5,045,968 shares of the pipeline company’s stock worth $270,060,000 after purchasing an additional 654,489 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in Mplx by 54.8% in the first quarter. Neuberger Berman Group LLC now owns 996,777 shares of the pipeline company’s stock worth $53,348,000 after purchasing an additional 352,782 shares during the last quarter. Fractal Investments LLC boosted its holdings in Mplx by 18.1% in the first quarter. Fractal Investments LLC now owns 2,256,503 shares of the pipeline company’s stock worth $120,768,000 after purchasing an additional 345,654 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in Mplx by 21.0% in the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,822,709 shares of the pipeline company’s stock worth $97,551,000 after purchasing an additional 315,747 shares during the last quarter. Institutional investors own 24.25% of the company’s stock.

Mplx Price Performance

NYSE MPLX opened at $50.80 on Friday. The company has a market capitalization of $51.77 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.36 and a beta of 0.74. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.97 and a current ratio of 1.03. The business’s fifty day moving average is $50.72 and its 200 day moving average is $51.18. Mplx Lp has a fifty-two week low of $42.92 and a fifty-two week high of $54.87.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, August 5th. The pipeline company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.05). Mplx had a net margin of 35.44% and a return on equity of 30.95%. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the prior year, the firm earned $1.15 EPS. Mplx’s revenue for the quarter was down 1.6% compared to the same quarter last year. Sell-side analysts predict that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 8th were issued a dividend of $0.9565 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $3.83 annualized dividend and a yield of 7.5%. Mplx’s payout ratio is currently 90.97%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MPLX shares. Barclays raised their target price on shares of Mplx from $52.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Stifel Nicolaus raised their target price on shares of Mplx from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 14th. Wall Street Zen cut shares of Mplx from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Morgan Stanley raised their target price on shares of Mplx from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 26th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Mplx presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.89.

About Mplx

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Crude Oil and Products Logistics and Natural Gas and NGL Services segments. The Crude Oil and Products Logistics segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.