Keybank National Association OH Decreases Holdings in Mplx Lp $MPLX

Keybank National Association OH cut its stake in shares of Mplx Lp (NYSE:MPLX) by 6.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 40,646 shares of the pipeline company’s stock after selling 2,763 shares during the period. Keybank National Association OH’s holdings in Mplx were worth $2,094,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in MPLX. Rossby Financial LCC purchased a new stake in Mplx during the 1st quarter valued at $33,000. Private Trust Co. NA purchased a new stake in Mplx during the 1st quarter valued at $65,000. Aviance Capital Partners LLC raised its stake in Mplx by 18.2% during the 1st quarter. Aviance Capital Partners LLC now owns 12,974 shares of the pipeline company’s stock valued at $694,000 after buying an additional 2,000 shares during the last quarter. Silver Oak Securities Incorporated raised its stake in Mplx by 9.8% during the 1st quarter. Silver Oak Securities Incorporated now owns 8,555 shares of the pipeline company’s stock valued at $462,000 after buying an additional 764 shares during the last quarter. Finally, Brookstone Capital Management raised its stake in Mplx by 50.2% during the 1st quarter. Brookstone Capital Management now owns 34,794 shares of the pipeline company’s stock valued at $1,862,000 after buying an additional 11,633 shares during the last quarter. 24.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Barclays boosted their target price on shares of Mplx from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Weiss Ratings downgraded shares of Mplx from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, October 8th. Wells Fargo & Company cut their price objective on shares of Mplx from $60.00 to $59.00 and set an “overweight” rating for the company in a research report on Tuesday, September 23rd. Stifel Nicolaus boosted their price objective on shares of Mplx from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 14th. Finally, Wall Street Zen downgraded shares of Mplx from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.50.

Mplx Stock Up 0.4%

MPLX opened at $50.79 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.97 and a current ratio of 1.03. Mplx Lp has a fifty-two week low of $44.07 and a fifty-two week high of $54.87. The firm’s fifty day moving average is $50.16 and its 200 day moving average is $50.68. The stock has a market cap of $51.76 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 1.56 and a beta of 0.68.

Mplx (NYSE:MPLX) last released its earnings results on Tuesday, August 5th. The pipeline company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter last year, the firm posted $1.15 EPS. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, sell-side analysts forecast that Mplx Lp will post 4.41 earnings per share for the current fiscal year.

Mplx Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, November 7th will be paid a $1.0765 dividend. This represents a $4.31 annualized dividend and a yield of 8.5%. The ex-dividend date is Friday, November 7th. This is an increase from Mplx’s previous quarterly dividend of $0.96. Mplx’s dividend payout ratio is presently 90.97%.

Mplx Company Profile

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.