Groesbeck Investment Management Corp NJ Has $255,000 Stake in Mplx Lp (NYSE:MPLX)

Groesbeck Investment Management Corp NJ cut its stake in Mplx Lp (NYSE:MPLX) by 57.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 6,942 shares of the pipeline company’s stock after selling 9,558 shares during the quarter. Groesbeck Investment Management Corp NJ’s holdings in Mplx were worth $255,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC grew its position in shares of Mplx by 104,751.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 69,772,138 shares of the pipeline company’s stock valued at $2,291,317,000 after buying an additional 69,705,594 shares during the last quarter. Barclays PLC increased its holdings in Mplx by 440.5% during the 3rd quarter. Barclays PLC now owns 5,649,301 shares of the pipeline company’s stock worth $200,946,000 after purchasing an additional 4,604,066 shares in the last quarter. Alps Advisors Inc. increased its holdings in Mplx by 18.9% during the 3rd quarter. Alps Advisors Inc. now owns 28,771,793 shares of the pipeline company’s stock worth $1,023,413,000 after purchasing an additional 4,579,152 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Mplx by 519.6% during the 1st quarter. JPMorgan Chase & Co. now owns 4,298,506 shares of the pipeline company’s stock worth $148,083,000 after purchasing an additional 3,604,755 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Mplx by 18.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,309,208 shares of the pipeline company’s stock valued at $224,419,000 after acquiring an additional 976,033 shares in the last quarter. 24.25% of the stock is owned by institutional investors and hedge funds.

Mplx Stock Performance

MPLX traded up $0.38 during mid-day trading on Thursday, reaching $40.37. 577,092 shares of the company traded hands, compared to its average volume of 2,161,413. The stock has a market capitalization of $40.80 billion, a P/E ratio of 10.48 and a beta of 1.35. The company has a quick ratio of 1.01, a current ratio of 1.07 and a debt-to-equity ratio of 1.52. The company’s fifty day moving average price is $40.16 and its 200-day moving average price is $37.71. Mplx Lp has a 52-week low of $33.12 and a 52-week high of $42.89.

Mplx (NYSE:MPLX) last posted its quarterly earnings data on Tuesday, January 30th. The pipeline company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.95 by $0.15. Mplx had a return on equity of 31.85% and a net margin of 34.82%. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the business posted $0.78 EPS. Mplx’s revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts expect that Mplx Lp will post 4.11 EPS for the current year.

Mplx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Monday, February 5th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 8.42%. The ex-dividend date was Friday, February 2nd. Mplx’s dividend payout ratio (DPR) is presently 89.24%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Royal Bank of Canada increased their price objective on Mplx from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. UBS Group increased their target price on Mplx from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. StockNews.com upgraded Mplx from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 31st. Barclays raised their price target on Mplx from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Finally, Raymond James raised their price target on Mplx from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $43.86.

Mplx Profile

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. 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; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.