ProShare Advisors LLC Acquires 4,439 Shares of Mplx Lp $MPLX

ProShare Advisors LLC raised its holdings in shares of Mplx Lp (NYSE:MPLX) by 17.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 29,598 shares of the pipeline company’s stock after purchasing an additional 4,439 shares during the period. ProShare Advisors LLC’s holdings in Mplx were worth $1,525,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of MPLX. Parkside Financial Bank & Trust lifted its holdings in shares of Mplx by 2.2% during the second quarter. Parkside Financial Bank & Trust now owns 44,198 shares of the pipeline company’s stock valued at $2,277,000 after purchasing an additional 945 shares in the last quarter. Prospera Financial Services Inc increased its holdings in Mplx by 5.5% in the 2nd quarter. Prospera Financial Services Inc now owns 31,572 shares of the pipeline company’s stock worth $1,626,000 after buying an additional 1,634 shares in the last quarter. ORBA Wealth Advisors L.L.C. purchased a new position in Mplx in the 2nd quarter worth about $348,000. Cherry Creek Investment Advisors Inc. lifted its stake in Mplx by 1.8% during the 2nd quarter. Cherry Creek Investment Advisors Inc. now owns 15,013 shares of the pipeline company’s stock valued at $773,000 after acquiring an additional 270 shares during the period. Finally, HFG Advisors Inc. bought a new position in Mplx during the 2nd quarter valued at about $209,000. Institutional investors own 24.25% of the company’s stock.

Mplx Stock Up 2.3%

Shares of MPLX stock opened at $53.12 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 1.66. Mplx Lp has a 12 month low of $44.60 and a 12 month high of $54.87. The stock has a market cap of $54.03 billion, a P/E ratio of 11.25, a P/E/G ratio of 1.59 and a beta of 0.71. The company has a 50 day simple moving average of $50.37 and a two-hundred day simple moving average of $50.72.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, November 4th. The pipeline company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.45. The business had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Mplx had a net margin of 37.61% and a return on equity of 34.14%. On average, research analysts expect that Mplx Lp will post 4.41 earnings per share for the current year.

Mplx Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 7th were issued a dividend of $1.0765 per share. This is a boost from Mplx’s previous quarterly dividend of $0.96. This represents a $4.31 annualized dividend and a yield of 8.1%. The ex-dividend date of this dividend was Friday, November 7th. Mplx’s dividend payout ratio is presently 91.31%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Stifel Nicolaus lifted their price target on shares of Mplx from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 14th. Weiss Ratings cut shares of Mplx from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, October 8th. Zacks Research upgraded shares of Mplx from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Wall Street Zen cut Mplx from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Morgan Stanley raised their price target on Mplx from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 26th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.86.

Mplx Profile

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Crude Oil and Products Logistics and Natural Gas and NGL Services segments. The Crude Oil and Products Logistics segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.