Heronetta Management L.P. Sells 32,425 Shares of Mplx Lp $MPLX

Heronetta Management L.P. lessened its holdings in Mplx Lp (NYSE:MPLX) by 9.1% during the fourth quarter, HoldingsChannel reports. The fund owned 323,639 shares of the pipeline company’s stock after selling 32,425 shares during the quarter. Mplx accounts for about 11.4% of Heronetta Management L.P.’s investment portfolio, making the stock its biggest holding. Heronetta Management L.P.’s holdings in Mplx were worth $17,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bridges Investment Management Inc. raised its holdings in shares of Mplx by 53.2% in the 3rd quarter. Bridges Investment Management Inc. now owns 103,351 shares of the pipeline company’s stock worth $5,162,000 after acquiring an additional 35,869 shares during the last quarter. Caprock Group LLC acquired a new stake in shares of Mplx in the 3rd quarter worth about $2,698,000. Texas Yale Capital Corp. raised its holdings in shares of Mplx by 8.9% in the 3rd quarter. Texas Yale Capital Corp. now owns 299,845 shares of the pipeline company’s stock worth $14,977,000 after acquiring an additional 24,405 shares during the last quarter. Alps Advisors Inc. raised its holdings in shares of Mplx by 1.2% in the 3rd quarter. Alps Advisors Inc. now owns 26,409,654 shares of the pipeline company’s stock worth $1,319,162,000 after acquiring an additional 325,451 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in Mplx by 16.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 149,367 shares of the pipeline company’s stock valued at $7,461,000 after buying an additional 20,777 shares during the last quarter. Institutional investors and hedge funds own 24.25% of the company’s stock.

Mplx Price Performance

Shares of NYSE:MPLX opened at $54.02 on Tuesday. The company’s 50-day moving average is $56.85 and its 200 day moving average is $55.16. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.05 and a current ratio of 1.10. The company has a market capitalization of $54.85 billion, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 5.05 and a beta of 0.49. Mplx Lp has a fifty-two week low of $47.80 and a fifty-two week high of $59.98.

Mplx (NYSE:MPLX) last issued its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.15). Mplx had a return on equity of 32.74% and a net margin of 36.38%.The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same period last year, the firm posted $1.10 earnings per share. Mplx’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities research analysts forecast that Mplx Lp will post 4.33 earnings per share for the current year.

Mplx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 8th will be paid a dividend of $1.0765 per share. The ex-dividend date is Friday, May 8th. This represents a $4.31 annualized dividend and a dividend yield of 8.0%. Mplx’s dividend payout ratio (DPR) is presently 93.29%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Truist Financial decreased their price objective on shares of Mplx from $67.00 to $66.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. JPMorgan Chase & Co. increased their price objective on shares of Mplx from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, March 10th. Wells Fargo & Company dropped their price target on Mplx from $63.00 to $61.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Wall Street Zen lowered Mplx from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Stifel Nicolaus lifted their price target on Mplx from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $61.70.

Mplx Profile

MPLX LP (NYSE: MPLX) is a midstream master limited partnership that owns, operates and develops energy infrastructure primarily across the United States. The company provides a range of midstream services including the gathering, transportation, storage and distribution of crude oil, refined petroleum products, natural gas and natural gas liquids (NGLs). MPLX also operates processing and fractionation facilities and supplies logistics services that connect producers, refiners and end-use markets.

The partnership’s asset base includes pipelines, storage terminals, rail and marine facilities, natural gas processing plants and NGL fractionators.