Credit Suisse AG increased its holdings in shares of Mplx Lp (NYSE:MPLX) by 2.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 350,182 shares of the pipeline company’s stock after purchasing an additional 8,449 shares during the quarter. Credit Suisse AG’s holdings in Mplx were worth $12,144,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Tortoise Capital Advisors L.L.C. boosted its position in Mplx by 4.7% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 28,187,706 shares of the pipeline company’s stock worth $977,550,000 after acquiring an additional 1,269,600 shares during the last quarter. Alps Advisors Inc. boosted its holdings in shares of Mplx by 5.7% in the 3rd quarter. Alps Advisors Inc. now owns 25,426,675 shares of the pipeline company’s stock valued at $881,797,000 after buying an additional 1,382,018 shares during the last quarter. OppenheimerFunds Inc. boosted its holdings in shares of Mplx by 1.4% in the 2nd quarter. OppenheimerFunds Inc. now owns 11,613,781 shares of the pipeline company’s stock valued at $396,494,000 after buying an additional 158,163 shares during the last quarter. Chickasaw Capital Management LLC boosted its holdings in shares of Mplx by 74.1% in the 3rd quarter. Chickasaw Capital Management LLC now owns 5,708,264 shares of the pipeline company’s stock valued at $197,963,000 after buying an additional 2,430,097 shares during the last quarter. Finally, Miller Howard Investments Inc. NY boosted its holdings in shares of Mplx by 2.2% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 3,721,954 shares of the pipeline company’s stock valued at $129,077,000 after buying an additional 79,027 shares during the last quarter. 31.03% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently commented on MPLX. Zacks Investment Research raised Mplx from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 24th. Goldman Sachs Group reissued a “neutral” rating on shares of Mplx in a report on Tuesday, October 9th. Citigroup cut their price objective on Mplx from $44.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, November 29th. Bank of America reissued a “neutral” rating and issued a $41.00 price objective (up previously from $36.00) on shares of Mplx in a report on Thursday. Finally, Credit Suisse Group began coverage on Mplx in a report on Thursday, October 11th. They issued an “outperform” rating and a $45.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. Mplx currently has a consensus rating of “Buy” and a consensus target price of $40.08.
Mplx (NYSE:MPLX) last announced its quarterly earnings results on Thursday, November 1st. The pipeline company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. Mplx had a return on equity of 21.03% and a net margin of 27.99%. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter last year, the firm posted $0.29 EPS. The company’s quarterly revenue was up 74.7% on a year-over-year basis. On average, sell-side analysts forecast that Mplx Lp will post 2.44 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Monday, November 5th were issued a dividend of $0.6375 per share. This is an increase from Mplx’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Friday, November 2nd. This represents a $2.55 annualized dividend and a yield of 7.48%. Mplx’s dividend payout ratio (DPR) is currently 240.57%.
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MPLX LP owns, operates, develops, and acquires midstream energy infrastructure assets. It operates in two segments, Logistics and Storage, and Gathering and Processing segments. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids (NGLs); and gathering, transportation, and storage of crude oil and refined petroleum products.
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