Mplx Lp (NYSE:MPLX) Shares Sold by Obermeyer Wood Investment Counsel Lllp

Obermeyer Wood Investment Counsel Lllp trimmed its position in Mplx Lp (NYSE:MPLX) by 3.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,681 shares of the pipeline company’s stock after selling 981 shares during the quarter. Obermeyer Wood Investment Counsel Lllp’s holdings in Mplx were worth $1,264,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nomura Holdings Inc. bought a new position in Mplx during the 4th quarter worth $67,253,000. BNP Paribas Financial Markets boosted its stake in Mplx by 53.9% during the 1st quarter. BNP Paribas Financial Markets now owns 1,826,484 shares of the pipeline company’s stock valued at $75,909,000 after purchasing an additional 639,851 shares during the period. CIBC Private Wealth Group LLC grew its position in Mplx by 23.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,028,327 shares of the pipeline company’s stock worth $111,200,000 after purchasing an additional 574,737 shares during the last quarter. ING Groep NV increased its stake in shares of Mplx by 21.2% in the fourth quarter. ING Groep NV now owns 2,740,500 shares of the pipeline company’s stock valued at $100,631,000 after purchasing an additional 480,000 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in shares of Mplx by 170.6% during the fourth quarter. Allianz Asset Management GmbH now owns 637,100 shares of the pipeline company’s stock valued at $23,394,000 after buying an additional 401,700 shares during the last quarter. 24.25% of the stock is owned by institutional investors and hedge funds.

Mplx Trading Up 0.3 %

Shares of NYSE:MPLX traded up $0.13 during midday trading on Friday, reaching $42.88. The company had a trading volume of 1,072,390 shares, compared to its average volume of 1,948,190. The company has a fifty day simple moving average of $42.32 and a two-hundred day simple moving average of $41.25. The firm has a market cap of $43.76 billion, a price-to-earnings ratio of 11.05, a price-to-earnings-growth ratio of 1.19 and a beta of 1.37. Mplx Lp has a 1-year low of $34.47 and a 1-year high of $43.42. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.95 and a current ratio of 0.99.

Mplx (NYSE:MPLX) last announced its earnings results on Tuesday, August 6th. The pipeline company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.98 by $0.17. Mplx had a net margin of 35.95% and a return on equity of 32.68%. The company had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same period last year, the company posted $0.91 earnings per share. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. Research analysts predict that Mplx Lp will post 4.24 earnings per share for the current year.

Mplx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 9th were issued a $0.85 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.93%. Mplx’s payout ratio is currently 87.63%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MPLX shares. Wells Fargo & Company raised their price target on Mplx from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 price target on shares of Mplx in a research note on Wednesday. StockNews.com upgraded shares of Mplx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 11th. Finally, Barclays upped their price objective on Mplx from $43.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, July 12th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $46.33.

Mplx Company Profile

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.