Delphi Financial Group Inc. Raises Stake in Mplx Lp (NYSE:MPLX)

Delphi Financial Group Inc. boosted its holdings in Mplx Lp (NYSE:MPLX) by 235.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,275,000 shares of the pipeline company’s stock after purchasing an additional 895,000 shares during the quarter. Mplx accounts for about 12.2% of Delphi Financial Group Inc.’s portfolio, making the stock its 3rd biggest position. Delphi Financial Group Inc.’s holdings in Mplx were worth $35,713,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of MPLX. FMR LLC raised its position in Mplx by 6.4% in the first quarter. FMR LLC now owns 336,101 shares of the pipeline company’s stock worth $11,054,000 after acquiring an additional 20,300 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its position in Mplx by 122.9% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 463,730 shares of the pipeline company’s stock worth $15,253,000 after acquiring an additional 255,707 shares in the last quarter. Walnut Private Equity Partners LLC raised its position in Mplx by 24.1% in the second quarter. Walnut Private Equity Partners LLC now owns 61,846 shares of the pipeline company’s stock worth $1,976,000 after acquiring an additional 12,000 shares in the last quarter. XR Securities LLC bought a new stake in Mplx in the second quarter worth about $364,000. Finally, Adams Asset Advisors LLC bought a new stake in Mplx in the second quarter worth about $1,007,000. Hedge funds and other institutional investors own 24.28% of the company’s stock.

Several analysts have issued reports on the company. TheStreet downgraded Mplx from a “b-” rating to a “c+” rating in a report on Thursday, October 24th. Credit Suisse Group restated an “outperform” rating and set a $33.00 price objective (down previously from $38.00) on shares of Mplx in a report on Monday, August 12th. Royal Bank of Canada set a $33.00 price objective on Mplx and gave the stock a “buy” rating in a report on Friday, November 1st. Citigroup cut their price objective on Mplx from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Finally, Barclays restated an “overweight” rating and set a $33.00 price objective on shares of Mplx in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $35.50.

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NYSE MPLX opened at $24.75 on Friday. The stock’s 50-day moving average price is $27.26 and its two-hundred day moving average price is $29.63. The company has a current ratio of 0.65, a quick ratio of 0.68 and a debt-to-equity ratio of 1.09. The company has a market cap of $26.35 billion, a PE ratio of 10.81 and a beta of 1.07. Mplx Lp has a 1 year low of $24.33 and a 1 year high of $35.85.

Mplx (NYSE:MPLX) last posted its quarterly earnings data on Thursday, October 31st. The pipeline company reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.02. The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.05 billion. Mplx had a return on equity of 21.25% and a net margin of 28.17%. The business’s revenue for the quarter was up 33.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.62 EPS. Research analysts forecast that Mplx Lp will post 2.41 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be issued a $0.6775 dividend. This is an increase from Mplx’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.71 dividend on an annualized basis and a dividend yield of 10.95%. Mplx’s dividend payout ratio is currently 118.34%.

Mplx Company Profile

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. The company also provides fuels distribution services. 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; and transportation, storage, and distribution of crude oil and refined petroleum products.

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Institutional Ownership by Quarter for Mplx (NYSE:MPLX)

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