Hodges Capital Management Inc. Has $206,000 Position in Mplx Lp (NYSE:MPLX)
Hodges Capital Management Inc. held its stake in Mplx Lp (NYSE:MPLX) during the second quarter, Holdings Channel reports. The firm owned 6,165 shares of the pipeline company’s stock at the end of the second quarter. Hodges Capital Management Inc.’s holdings in Mplx Lp were worth $206,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. Kayne Anderson Capital Advisors LP increased its stake in Mplx Lp by 4.5% in the first quarter. Kayne Anderson Capital Advisors LP now owns 12,607,101 shares of the pipeline company’s stock worth $454,846,000 after buying an additional 539,300 shares during the last quarter. Atlantic Trust Group LLC increased its stake in Mplx Lp by 5.8% in the first quarter. Atlantic Trust Group LLC now owns 6,565,477 shares of the pipeline company’s stock worth $236,883,000 after buying an additional 362,343 shares during the last quarter. Bank of Montreal Can increased its stake in Mplx Lp by 36.3% in the second quarter. Bank of Montreal Can now owns 6,234,136 shares of the pipeline company’s stock worth $208,220,000 after buying an additional 1,661,578 shares during the last quarter. Bank of America Corp DE increased its stake in Mplx Lp by 130.8% in the first quarter. Bank of America Corp DE now owns 6,196,080 shares of the pipeline company’s stock worth $223,555,000 after buying an additional 3,511,264 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Mplx Lp by 9.5% in the first quarter. JPMorgan Chase & Co. now owns 4,915,070 shares of the pipeline company’s stock worth $177,336,000 after buying an additional 427,617 shares during the last quarter. Institutional investors and hedge funds own 69.59% of the company’s stock.
Shares of Mplx Lp (NYSE MPLX) opened at 33.59 on Friday. The firm has a market capitalization of $13.05 billion, a P/E ratio of 40.13 and a beta of 1.35. The firm’s 50-day moving average price is $34.60 and its 200-day moving average price is $35.60. Mplx Lp has a one year low of $30.09 and a one year high of $39.43.
Mplx Lp (NYSE:MPLX) last issued its quarterly earnings data on Thursday, July 27th. The pipeline company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.16 by $0.10. The firm had revenue of $916 million during the quarter, compared to the consensus estimate of $884.70 million. Mplx Lp had a net margin of 19.07% and a return on equity of 6.13%. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.11) earnings per share. On average, equities analysts forecast that Mplx Lp will post $0.97 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be paid a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a dividend yield of 6.70%. This is an increase from Mplx Lp’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, August 3rd. Mplx Lp’s dividend payout ratio is 271.09%.
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MPLX has been the subject of a number of recent research reports. Jefferies Group LLC restated a “buy” rating and issued a $44.00 price objective on shares of Mplx Lp in a report on Wednesday, April 19th. BidaskClub downgraded Mplx Lp from a “buy” rating to a “hold” rating in a report on Sunday, August 6th. Zacks Investment Research upgraded Mplx Lp from a “sell” rating to a “hold” rating in a report on Thursday, May 18th. TheStreet upgraded Mplx Lp from a “c” rating to a “b-” rating in a report on Friday, April 28th. Finally, Scotiabank set a $44.00 price objective on Mplx Lp and gave the company a “buy” rating in a report on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Mplx Lp has a consensus rating of “Buy” and an average price target of $42.55.
In other news, CEO Gary R. Heminger acquired 9,000 shares of the stock in a transaction dated Monday, June 12th. The stock was purchased at an average cost of $33.26 per share, with a total value of $299,340.00. Following the completion of the purchase, the chief executive officer now owns 167,896 shares in the company, valued at approximately $5,584,220.96. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.
Mplx Lp Company Profile
MPLX LP is a master limited partnership (MLP) formed by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets. The Company is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids (NGLs), and the gathering, transportation and storage of crude oil and refined petroleum products.
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