Sumitomo Mitsui Trust Holdings Inc. Buys 10,000 Shares of MPLX (MPLX)
Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of MPLX (NYSE:MPLX) by 6.7% in the 1st quarter, Holdings Channel reports. The firm owned 160,240 shares of the pipeline company’s stock after acquiring an additional 10,000 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in MPLX were worth $5,294,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently bought and sold shares of the company. M&T Bank Corp grew its holdings in shares of MPLX by 5.7% during the fourth quarter. M&T Bank Corp now owns 52,024 shares of the pipeline company’s stock valued at $1,845,000 after purchasing an additional 2,823 shares during the last quarter. EnTrustPermal Partners Offshore LP bought a new position in shares of MPLX during the fourth quarter valued at approximately $2,791,000. Pitcairn Co. bought a new position in shares of MPLX during the fourth quarter valued at approximately $229,000. BlackRock Inc. grew its holdings in shares of MPLX by 2.5% during the fourth quarter. BlackRock Inc. now owns 1,994,873 shares of the pipeline company’s stock valued at $70,758,000 after purchasing an additional 48,111 shares during the last quarter. Finally, Groesbeck Investment Management Corp NJ boosted its position in shares of MPLX by 5.5% during the fourth quarter. Groesbeck Investment Management Corp NJ now owns 35,384 shares of the pipeline company’s stock worth $1,255,000 after buying an additional 1,830 shares during the period. 32.22% of the stock is owned by institutional investors.
Several equities analysts have recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $43.00 price objective (down from $44.00) on shares of MPLX in a research report on Friday, February 2nd. Citigroup reiterated a “buy” rating and set a $46.00 price objective on shares of MPLX in a research report on Friday, February 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $45.00 price objective on shares of MPLX in a research report on Thursday, February 1st. Jefferies Group downgraded MPLX from a “buy” rating to a “hold” rating and set a $38.00 price objective for the company. in a research report on Monday, February 5th. Finally, Zacks Investment Research upgraded MPLX from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Tuesday, March 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. MPLX has a consensus rating of “Buy” and an average target price of $41.00.
MPLX (NYSE:MPLX) last released its earnings results on Monday, April 30th. The pipeline company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.19. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.10 billion. MPLX had a return on equity of 10.43% and a net margin of 21.88%. The firm’s revenue for the quarter was up 60.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 earnings per share. analysts predict that MPLX will post 2.23 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Monday, May 7th were given a $0.6175 dividend. This represents a $2.47 dividend on an annualized basis and a yield of 6.90%. This is an increase from MPLX’s previous quarterly dividend of $0.61. The ex-dividend date was Friday, May 4th. MPLX’s dividend payout ratio is 233.02%.
MPLX LP owns, operates, develops, and acquires midstream energy infrastructure assets. It operates in two segments, Logistics and Storage, and Gathering and Processing segments. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids (NGLs); and gathering, transportation, and storage of crude oil and refined petroleum products.
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