Penserra Capital Management LLC Takes Position in Mplx Lp (NYSE:MPLX)

Penserra Capital Management LLC bought a new stake in Mplx Lp (NYSE:MPLX) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,940 shares of the pipeline company’s stock, valued at approximately $82,000.

Several other large investors also recently added to or reduced their stakes in MPLX. FMR LLC raised its position in Mplx by 6.4% during 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. increased its stake in shares of Mplx by 122.9% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 463,730 shares of the pipeline company’s stock worth $15,253,000 after purchasing an additional 255,707 shares during the last quarter. Mcmillion Capital Management Inc. acquired a new position in shares of Mplx during the 2nd quarter worth about $113,000. Doliver Advisors LP raised its holdings in shares of Mplx by 13.3% in the 2nd quarter. Doliver Advisors LP now owns 8,521 shares of the pipeline company’s stock valued at $274,000 after purchasing an additional 1,000 shares during the period. Finally, Karpas Strategies LLC raised its holdings in shares of Mplx by 1.4% in the 2nd quarter. Karpas Strategies LLC now owns 71,763 shares of the pipeline company’s stock valued at $2,310,000 after purchasing an additional 1,000 shares during the period. 31.70% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts recently commented on MPLX shares. ValuEngine upgraded Mplx from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Citigroup dropped their price objective on Mplx from $40.00 to $32.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Mplx in a research report on Tuesday, September 3rd. Barclays reaffirmed an “overweight” rating and issued a $33.00 price objective on shares of Mplx in a research report on Monday, August 19th. Finally, Royal Bank of Canada set a $33.00 target price on Mplx and gave the stock a “buy” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $35.17.

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Shares of MPLX stock opened at $23.50 on Tuesday. Mplx Lp has a 52 week low of $22.60 and a 52 week high of $35.85. The company has a market capitalization of $24.80 billion, a price-to-earnings ratio of 10.26 and a beta of 1.03. The company has a 50-day simple moving average of $25.19 and a 200 day simple moving average of $28.68. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.60 and a current ratio of 0.65.

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

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were given a $0.6775 dividend. This is an increase from Mplx’s previous quarterly dividend of $0.44. The ex-dividend date was Friday, November 1st. This represents a $2.71 annualized dividend and a dividend yield of 11.53%. Mplx’s dividend payout ratio is presently 118.34%.

About Mplx

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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