Mplx Lp (NYSE:MPLX) Shares Sold by Mizuho Markets Americas LLC

Mizuho Markets Americas LLC reduced its position in shares of Mplx Lp (NYSE:MPLX) by 16.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,479 shares of the pipeline company’s stock after selling 8,000 shares during the period. Mizuho Markets Americas LLC’s holdings in Mplx were worth $1,844,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. ING Groep NV increased its stake in shares of Mplx by 69.8% during the 3rd quarter. ING Groep NV now owns 6,628,400 shares of the pipeline company’s stock valued at $294,699,000 after acquiring an additional 2,725,000 shares during the last quarter. Catalyst Capital Advisors LLC grew its holdings in Mplx by 7.4% in the third quarter. Catalyst Capital Advisors LLC now owns 280,885 shares of the pipeline company’s stock valued at $12,488,000 after purchasing an additional 19,320 shares during the period. Sei Investments Co. increased its position in Mplx by 47.4% during the first quarter. Sei Investments Co. now owns 51,740 shares of the pipeline company’s stock worth $2,150,000 after purchasing an additional 16,637 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Mplx by 22.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 81,884 shares of the pipeline company’s stock worth $3,487,000 after purchasing an additional 14,782 shares during the period. Finally, Lindbrook Capital LLC raised its stake in Mplx by 27.2% during the third quarter. Lindbrook Capital LLC now owns 52,128 shares of the pipeline company’s stock worth $2,318,000 after purchasing an additional 11,144 shares during the period. 24.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MPLX has been the topic of several research reports. Barclays upped their target price on Mplx from $45.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Bank of America started coverage on shares of Mplx in a research note on Thursday, October 17th. They issued an “underperform” rating and a $43.00 target price for the company. Royal Bank of Canada boosted their price objective on shares of Mplx from $47.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. StockNews.com upgraded Mplx from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, Wells Fargo & Company boosted their price target on Mplx from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.44.

Mplx Stock Performance

MPLX stock opened at $47.02 on Friday. The stock’s fifty day moving average is $44.51 and its two-hundred day moving average is $42.72. The stock has a market capitalization of $47.99 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 1.28 and a beta of 1.37. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.95 and a current ratio of 0.99. Mplx Lp has a 1 year low of $35.31 and a 1 year high of $47.62.

Mplx (NYSE:MPLX) last announced its earnings results on Tuesday, November 5th. The pipeline company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.04). The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.09 billion. Mplx had a return on equity of 32.70% and a net margin of 36.77%. Mplx’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.89 EPS. On average, research analysts predict that Mplx Lp will post 4.31 EPS for the current year.

Mplx Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a $0.9565 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.83 annualized dividend and a dividend yield of 8.14%. This is a boost from Mplx’s previous quarterly dividend of $0.85. Mplx’s dividend payout ratio is currently 90.33%.

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.