Mplx Lp $MPLX Stock Holdings Lessened by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC trimmed its stake in Mplx Lp (NYSE:MPLX) by 24.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 274,980 shares of the pipeline company’s stock after selling 89,411 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Mplx were worth $14,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in MPLX. CIBC Bancorp USA Inc. purchased a new stake in shares of Mplx in the third quarter worth approximately $134,319,000. Bank of America Corp DE lifted its position in shares of Mplx by 8.3% in the second quarter. Bank of America Corp DE now owns 9,873,619 shares of the pipeline company’s stock worth $508,590,000 after purchasing an additional 757,569 shares in the last quarter. Merewether Investment Management LP purchased a new stake in shares of Mplx in the second quarter worth approximately $16,988,000. Alps Advisors Inc. increased its holdings in Mplx by 1.2% in the third quarter. Alps Advisors Inc. now owns 26,409,654 shares of the pipeline company’s stock worth $1,319,162,000 after buying an additional 325,451 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Mplx by 4.4% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,060,024 shares of the pipeline company’s stock worth $352,648,000 after buying an additional 300,321 shares during the last quarter. 24.25% of the stock is owned by hedge funds and other institutional investors.

Mplx Stock Down 1.2%

MPLX opened at $54.85 on Friday. Mplx Lp has a 1-year low of $47.80 and a 1-year high of $59.98. The company has a current ratio of 1.10, a quick ratio of 1.05 and a debt-to-equity ratio of 1.71. The stock has a market capitalization of $55.66 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 5.30 and a beta of 0.49. The business has a 50 day moving average of $56.01 and a 200-day moving average of $55.59.

Mplx (NYSE:MPLX) last posted its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.15). Mplx had a net margin of 36.38% and a return on equity of 32.74%. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the prior year, the company posted $1.10 earnings per share. The firm’s revenue was down 2.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Mplx Lp will post 4.24 earnings per share for the current year.

Mplx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were given a $1.0765 dividend. This represents a $4.31 annualized dividend and a dividend yield of 7.9%. The ex-dividend date of this dividend was Friday, May 8th. Mplx’s dividend payout ratio is currently 93.29%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Truist Financial dropped their price objective on Mplx from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Wells Fargo & Company dropped their price objective on Mplx from $63.00 to $61.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. JPMorgan Chase & Co. increased their price objective on Mplx from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, March 10th. Citigroup increased their price objective on Mplx from $54.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Finally, Barclays increased their price objective on Mplx from $58.00 to $59.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. One 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $61.60.

About Mplx

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.